> For the complete documentation index, see [llms.txt](https://delpho.gitbook.io/delpho-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://delpho.gitbook.io/delpho-docs/legal/risk-disclosure-statement.md).

# Risk disclosure statement

> **Status**: Counsel-drafted. 

This page is the formal risk disclosure for Delpho users.

The statement covers:

* The variable nature of sUSDV yield, including the possibility of zero or negative yield in sustained negative-funding windows.
* USDV peg risk, including the conditions under which the peg may deviate from $1.
* Smart-contract risk and audit limitations.
* Hedge venue concentration risk on Hyperliquid.
* Oracle dependence and the consequences of oracle failure.
* Regulatory uncertainty around synthetic-dollar instruments.
* Additional risks identified during the pre-launch counsel review.

For the operational treatment of these risks, see the [Risk](/delpho-docs/risk.md) chapter.