Depositor risks

Depositing USDG into a vault buys shares of a pooled strategy. Depositors share profits and losses. Nothing about a vault is guaranteed, insured, or advice.

The risks, plainly

• Loss of principal. Strategies lose money; shares can be worth less — or much less — than deposited.
• No guaranteed yield. No APY promises exist anywhere in this product, and none would be honest.
• Not FDIC-insured. Vault deposits are not bank deposits.
• Economic exposure only. Tokenized stocks are Robinhood Chain ERC-8056 tokens giving economic exposure — no voting rights, no shareholder claims against the issuer.
• Oracle pauses. Feeds hold last price off-hours and pause during corporate actions; rebalances and exits can be delayed.
• Liquidity. On-chain venues for tokenized equities are early; routing stays disabled per asset until verified, and execution can cost more than expected.
• Sequencer risk. Robinhood Chain is an L2; transactions can be delayed and Robinhood offers builders no uptime guarantee.
• Creator risk. Fuses, skin-in-game floors, and audits bound creators — they do not make strategies good.
• Issuer restrictions. Tokenized equities are U.S.-person restricted by the issuer — an asset disclosure, not a HISS eligibility gate. Separately, the public deposit gate can revoke public deposits at any time.
• Lockups. Withdrawals may wait out a disclosed lockup; emergency exit distributes in kind.
• Fees you do not pay. HISS charges no deposit fee and no withdrawal fee, and there is no hidden spread. Depositors pay no separate HISS performance fee — the HISS protocol share comes from the creator fee, not depositor principal. Chain gas, liquidity unwind, slippage, and actual execution costs are disclosed separately.

The acknowledgment

Every field must be literally true with a valid timestamp before a deposit intent compiles. The hash is stored with your receipt; no PII goes on-chain.

{
  "acknowledgedDepositorsShareProfitsAndLosses": true,
  "acknowledgedLossOfPrincipalRisk": true,
  "acknowledgedNoGuaranteedYield": true,
  "acknowledgedNotFDICInsured": true,
  "acknowledgedTokenizedStocksAreEconomicExposureNotDirectOwnership": true,
  "acknowledgedJurisdictionRestrictions": true,
  "acknowledgedHissNotBrokerDealerInvestmentAdviserCustodianOrOrderRouter": true,
  "acknowledgedRobinhoodDoesNotEndorseHissVaults": true,
  "acknowledgedRobinhoodMcpNotUsedForPooledVaultExecution": true,
  "acknowledgedVaultChainIsRobinhoodChain": true,
  "acknowledgedX402MaySettleOnBaseWhereConfigured": true,
  "timestamp": "ISO-8601 string"
}