This website and the BTC-VP20 vault smart contracts are provided "as is" without warranty of any kind, express or implied. The information on this website does not constitute investment advice, financial advice, trading advice, or any other form of advice. You should not treat any of the website's content as such. Nothing on this website constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any digital assets or financial instruments.
The vpBTC20 token and vault shares have not been registered under the U.S. Securities Act of 1933, as amended, or under the securities laws of any U.S. state. The vault shares may not be offered, sold, or otherwise transferred in the United States or to U.S. persons (as defined in Regulation S under the Securities Act) unless registered or exempt from registration. No determination has been made as to whether vpBTC20 constitutes a "security" under U.S. federal or state law. Users are solely responsible for ensuring compliance with all applicable laws in their jurisdiction. This product is not available to residents of the United States or any jurisdiction where such participation would be prohibited by law.
This product has not been approved or reviewed by the European Securities and Markets Authority (ESMA) or any EU national competent authority. Under the Markets in Crypto-Assets Regulation (MiCA), crypto-asset service providers must be authorized in the EU. This vault is a decentralized, non-custodial smart contract deployed on a public blockchain. No entity acts as a crypto-asset service provider within the meaning of MiCA. Users in the EU/EEA should be aware that this product may not benefit from the protections afforded by MiCA and should assess their own regulatory obligations before participating. Past performance data presented on this website (backtests) does not constitute a guarantee of future performance and should not be relied upon as such, in accordance with ESMA guidelines on marketing communications.
This product is not authorized or regulated by the UK Financial Conduct Authority (FCA). Cryptoassets are not covered by the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service. There is no consumer protection available. The value of crypto-assets can go down as well as up, and you could lose the entire amount invested. Tax treatment depends on individual circumstances and may change in the future.
Capital at risk: You may lose some or all of your investment. Crypto-assets are highly volatile and speculative.
Past performance: The backtest results displayed (1.62 Sharpe, 29.7% annual return, -36% max drawdown) are based on historical data from March 2016 to March 2026 and are not indicative of future results. Backtests have inherent limitations including survivorship bias and look-ahead bias.
Smart contract risk: This vault has been audited by AI-based tools (Claude, Gemini) but has not undergone a formal audit by a licensed security firm. Smart contracts may contain undiscovered bugs that could result in total loss of deposited funds.
Oracle risk: The vault relies on Pyth Network for BTC price data. Oracle failure or manipulation could lead to incorrect valuations and fund losses.
Liquidity risk: Redemptions through the epoch-based path may face slippage. The vault's ability to convert WBTC to USDC depends on Uniswap V3 liquidity.
Counterparty risk: The vault holds Wrapped Bitcoin (WBTC), which is a custodial wrapped asset. WBTC's value depends on the solvency and integrity of its custodian (BitGo). A custodian failure or depeg event could cause loss of funds.
Regulatory risk: The legal and regulatory status of decentralized finance products is uncertain and evolving. Changes in law or regulation may adversely affect the vault or its users.
The operators of this vault are not registered as investment advisers, broker-dealers, or financial planners with any regulatory authority. All content on this website is for informational purposes only. You should consult with a qualified financial adviser before making any investment decision. By interacting with this smart contract, you acknowledge that you are doing so at your own risk and that you have conducted your own due diligence. You represent that you are not a resident of any jurisdiction where participation in this product would violate applicable law.
Depositing, redeeming, and holding vault shares may give rise to taxable events in your jurisdiction. This may include capital gains tax, income tax, or other levies. You are solely responsible for determining what taxes apply to your transactions and for filing any required tax returns. The vault operators do not provide tax advice and will not issue tax forms or reports.