Risks

What the vault guarantees, and what no vault can.

Two different risks get mixed together in products like this. There is the risk that the thing you deposited into misbehaves, and the risk that the market moves. The first is largely engineered away here. The second is real, and worth understanding before you deposit.

What is guaranteed

These are not promises, which can be broken. They are properties of code that has no function capable of doing otherwise.

Your money cannot be locked inNo time lock, no cooldown, no epoch, no withdrawal queue, and no exit fee on principal. There is no key that can block an exit and no staleness condition that pauses one.Always

The fee cannot be raisedSet at construction. There is no setter in the contracts, and no owner who could call one.Ever

The code cannot be swappedNo proxy and no upgrade path. What you read today is what runs tomorrow.Ever

Nobody can pause itThere is no pause function, so there is no emergency in which somebody decides on your behalf that you cannot leave.Ever

Nothing gets strandedBurning the last share removes the entire position, including fees too small to have been collected yet. Liquidity that no share can claim is a live bug in other products of this shape; here a test pins it shut.Guaranteed

The trade behind all of that is worth naming: because nothing can be changed, a bug cannot be patched either. That is why the deposit cap is fixed at construction, to bound what is ever at risk, and why a vault is cheap enough to abandon and redeploy rather than administer.

This code has not been audited

No third party has reviewed these contracts. What has been done: a large test suite including fuzzing and a multi-day invariant campaign, differential checks against a replay engine, and three real bugs found and fixed by testing against live pools rather than mocks. That is meaningful work, and it is not a substitute for an audit. Size your deposit accordingly.

Only pools that actually trade

Fees only exist where there is volume, and most pools of this kind stop trading within days. So every pool is screened on whether it traded on each of its last three days, and across 2,281 replayed pools, dead ones included, that screen made this much difference to finding a pool still alive when you deposit:

Still trading when you deposit, unscreened19.8%

Still trading when you deposit, screened97.0%

Which pool you enter matters far more than any strategy setting, and that screen is applied for you rather than left as something to research.

The market is still the market

Screening finds pools that trade. It cannot make a token go up. What you hold here is a liquidity position in a volatile pair, and it behaves like one.

Other things worth knowing

Providing liquidity is not lending. If the token falls against ETH your position can be worth less than what you put in. Fees offset that; they do not cancel it.
Listing is not endorsement. Anyone can list a pool, and a pool appearing in the picker is not a recommendation to deposit into it.
The deposit cap cannot be raised. It is set when the vault is deployed. It bounds deposits rather than the position, so earned fees keep compounding in once the cap is reached rather than being stranded.
A projection is not a forecast. It runs a pool's own measured history forward and assumes your share and its volume both stay put. Neither does, and someone else depositing dilutes you.
A narrow band earns less, not more, unless it is re-centred. Across 38 pools a fixed band earned roughly half what full range earned, which is why full range is the default.