What can go wrong

This page is deliberately blunt. Everything below is a way you can lose money or access, written before you deposit rather than after.

The contracts are unaudited

No third party has reviewed them. They are currently on BNB Chain testnet and hold nothing of value. Treat any deployment as experimental software that can lose everything in it.

The authority key can remove assets

Emergency withdrawal exists so a stuck or half rebalanced vault can be recovered by hand. It also means the holder of that key can take vault assets. That is a deliberate trade of trustlessness for operability, it is disclosed here rather than buried, and it means you are trusting the key as well as the code.

You hold a claim, not a share

Equities are held as xStocks, issued by Backed Assets (JE) Limited. That is a claim on an issuer, carrying issuer, custody and redemption risk a brokerage account does not. No shareholder rights come with it: no vote, no dividend unless it is explicitly passed through.

Baskets are stale by construction

A 13F is filed up to 45 days after the quarter it describes, and congressional disclosures run to similar delays. You are following where a manager was, not where they are. Some of them have certainly traded since.

Part of most baskets is not the basket

Where a disclosed position has no tokenized equivalent, that weight is held as BNB. Every tracker states its split. One of them is close to half cash. Those trackers will not follow their subject closely, and the card says so.

Backtests are not performance

Trailing year figures on this site are computed from the currently published weights held unchanged. No vault held them. Nothing here is a track record, a forecast, or a promise.

Markets close, liquidity thins

Tokenized equity liquidity is thinner outside US market hours and thinner on BNB Chain than elsewhere. A large redemption at the wrong hour can move the price against you. Redeeming in kind needs no oracle and no liquidity, which is why that path exists.

Nothing here is advice

This is not an ETF, not a registered fund, and not investment advice. The protocol is not affiliated with, endorsed by, or connected to any person whose disclosures it tracks. Access may be restricted where you live and it is your responsibility to know.