# Disclaimer **Last updated: March 2026** ## General Disclaimer Dawn Vault is an experimental decentralized finance (DeFi) product operated by Dawn Labs. By using Dawn Vault, you acknowledge and accept the following: ### No Investment Advice Nothing in this documentation or on the Dawn Vault platform constitutes financial, investment, legal, or tax advice. The information provided is for informational purposes only. You should consult with qualified professionals before making any investment decisions. ### No Guarantee of Returns * Past performance does not guarantee future results * Advertised APY figures are estimates based on historical data and current market conditions * Actual returns may be higher or lower than projected * Loss of deposited funds is possible * The Yield Smoothing Reserve does not guarantee any minimum return ### Risk Acknowledgment By depositing into Dawn Vault, you acknowledge that you understand and accept the risks described in our [Risk & Security](/dawn-vault/risk-and-security.md), including but not limited to: * Smart contract vulnerabilities * Market and funding rate risk * Liquidation risk * Exchange and counterparty risk * Oracle manipulation risk * Operational and infrastructure risk * Liquidity risk * Regulatory risk * Solana network risk ### Experimental Software Dawn Vault is experimental software. The smart contracts, while built on audited frameworks, may contain bugs or vulnerabilities. You should not deposit more than you can afford to lose. ### Non-Custodial Nature Dawn Vault operates on a non-custodial basis. While this provides security benefits, it also means: * You are solely responsible for the security of your wallet and private keys * Lost private keys cannot be recovered * Transactions on the Solana blockchain are irreversible ### Regulatory Status Dawn Vault is not registered with or approved by any financial regulatory authority. The regulatory status of DeFi products is uncertain and evolving. Users are responsible for ensuring their use of Dawn Vault complies with applicable laws in their jurisdiction. ### Limitation of Liability To the maximum extent permitted by law, Dawn Labs and its contributors shall not be liable for any direct, indirect, incidental, special, consequential, or exemplary damages arising from: * Use of or inability to use Dawn Vault * Loss of funds deposited in Dawn Vault * Unauthorized access to or alteration of your data * Any third-party conduct or content ### Changes Dawn Labs reserves the right to modify vault parameters, strategies, fee structures, and these terms at any time. Significant changes will be communicated through official channels. ### Jurisdiction Some jurisdictions may restrict access to DeFi products. It is your responsibility to ensure you are legally permitted to use Dawn Vault in your jurisdiction. *** *By using Dawn Vault, you acknowledge that you have read, understood, and agree to this disclaimer.* --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.dawnlabs.tech/legal/disclaimer.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.