Potential risk factors on dnTokens

Market & funding dynamics: Sudden volatility or funding reversals can dampen or negate expected yield; neutrality is maintained but returns vary.

Infrastructure dependency: If Hyperliquid experiences downtime or maintenance, execution and (temporarily) withdrawals may be affected.

Stablecoin issuer risk: Depeg/issuer events can impact deposits.

Execution frictions: Depth/latency/slippage, particularly on volatile/illiquid assets, can add costs.

Volatility spikes that momentarily unbalance spot/perp legs.

Exchange/infra events (e.g., Hyperliquid downtime), market depth limits, or latency.

Funding reversals or sharp changes that can reduce/negate expected yield.

Institutional delegation: Understand Agent permissions and avoid manual sub‑account actions.