Disclosures.

The full risk model — smart-contract, counterparty, stablecoin issuer, impermanent loss, oracle/venue, liquidity, custody, regulatory, variable rate.

Allocation buckets, target ranges, venue types, key risks per bucket. Specific counterparties not disclosed publicly.

Strategy selection, blended-yield math, concentration limits, reserves and redemption policy.

Hot/warm/cold multi-signature treasury, controls, monitoring, and the limits of what custody alone protects.

Exposure limits, position-level stops, drawdown thresholds, escalation, independent oversight.

Investment committee, two-person rules, conflict-of-interest and related-party policies.

Ordinary flow, allowlists, security review, queue policy under stress.

Methodology and honest limits of point-in-time reserves attestations.

What independent assurance we use, what it does and does not prove.

Where Northvault is not available and how eligibility is determined.

KYC, sanctions screening, source-of-funds review, and ongoing monitoring.

Material product changes and policy updates, dated.