Risk Disclosure

VAULT targets an annual yield of up to 10%, but this is not guaranteed. Actual yield depends on STRC dividend payments from Strategy Inc. These dividends are variable and may be reduced, suspended, or eliminated at Strategy Inc.'s discretion or due to market conditions. There is no assurance that any yield will be paid.

STRC is a preferred stock issued by Strategy Inc., a company whose primary treasury asset is Bitcoin. The value of STRC and its ability to pay dividends is significantly influenced by the price of Bitcoin. A substantial decline in Bitcoin's price could:

• Reduce or eliminate STRC dividend payments.
• Lower the collateral ratio below the current ~5:1 level.
• Impair Strategy Inc.'s financial position and ability to service preferred stock obligations.
• Reduce the market price of STRC.

VAULT's yield is derived entirely from Strategy Inc.'s STRC preferred stock. As such, VAULT holders are exposed to Strategy Inc.'s business and financial risks, including but not limited to:

• Corporate financial distress or bankruptcy.
• Changes to dividend policy or preferred stock terms.
• Regulatory actions against Strategy Inc.
• Loss or mismanagement of Bitcoin holdings.
• Dilution from additional issuances of preferred or common stock.

VAULT tokens exist on the Solana blockchain and are governed by smart contracts. Smart contracts may contain bugs, vulnerabilities, or design flaws that could result in loss of funds. While smart contracts may be audited, no audit guarantees the absence of vulnerabilities.

The Solana blockchain may experience:

• Network congestion, outages, or degraded performance.
• Consensus failures or chain reorganizations.
• Protocol-level changes that affect token functionality.
• Validator failures or centralization concerns.

Any of these events could temporarily or permanently impair your ability to access, transfer, or sell your VAULT tokens.

While VAULT tokens can be sold for USDC on Solana, there is no guarantee of sufficient liquidity at any given time. In periods of market stress, you may be unable to sell your tokens at $1.00 or at all. VAULT does not guarantee a redemption price.

The regulatory landscape for digital assets is evolving rapidly. Changes in laws or regulations in any jurisdiction could:

• Restrict or prohibit the purchase, sale, or holding of VAULT tokens.
• Require additional compliance measures that limit functionality.
• Subject VAULT to new tax obligations or reporting requirements.
• Force the Service to cease operations in certain jurisdictions.

You are exposed to counterparty risk with VAULT's operators, brokerage and custody providers, compliance service providers, and any other third parties involved in the operation of the Service. Failure or insolvency of any counterparty could result in loss of funds.

VAULT tokens are held in your personal Solana wallet. You are solely responsible for the security of your wallet, private keys, and seed phrases. Loss of access to your wallet means permanent loss of your tokens. VAULT cannot recover lost or stolen tokens.

VAULT tokens are not bank deposits and are not insured by the FDIC, SIPC, or any government agency. There is no guarantee of principal repayment. You should only invest capital that you can afford to lose entirely.

The tax treatment of digital asset transactions varies by jurisdiction and is subject to change. You are solely responsible for determining and fulfilling your tax obligations. We recommend consulting a qualified tax advisor.