Twelve statements. Read them once, properly.

Mandatory disclaimers

What you are confirming.

Numbered and ordered exactly as the attestation dialog presents them.

1. 01What the collateral actually is

   The tokens you deposit are not shares. They are collateralized tracker certificates issued under Swiss law as ledger-based securities, by a Jersey issuer, under a prospectus approved in Liechtenstein. You hold a claim on the issuer that tracks the price of a share. You do not hold the share, and you have no shareholder rights.

2. 02The underlying market is not always open

   The official price is frozen from Friday 20:00 to Sunday 20:00 ET and on market holidays. During that time the protocol recognises a fall in the on-chain price, never a rise, and never more than 4% below the official print on tier A. A position that drops under 145% on that price can be bought by a third party, after at least 90 minutes of on-chain visibility. The amount you can borrow or withdraw falls out of session and returns at the first official print. A single-name token has traded on-chain at $132.64 against an official close of $28.84: a price you see outside the session is an estimate, not an executable quote.

3. 03Your position can be liquidated, at any hour

   If your collateral ratio falls below the minimum for its tier, 145% on tier A and 165% on tier B, your collateral is sold to repay your debt and the buyer keeps a discount. You lose that collateral permanently. The threshold is the same at every hour of every day, weekends and holidays included. The only pause is the ten minutes after an official price returns, during which the Stability Pool executes nothing. The first price of Sunday evening comes from a single provider, applies in one step at 20:00 ET, and can differ from Monday's session. For a Stability Pool depositor, Sunday 20:10 is the moment the whole weekend is absorbed at once.

4. 04The chain can stop

   Robinhood Chain has a single sequencer and may filter or reorder transactions without notice, with no verified uptime feed to detect it. If it halts, you cannot repay, add collateral or withdraw until it resumes, and the protocol cannot read a fresh price. There is no off-chain path around this.

5. 05fyUSD is neither e-money nor a deposit

   fyUSD is a debt token minted by an immutable contract. It is not electronic money, not a bank deposit, not insured by any scheme, and no entity guarantees its value or promises to redeem it at one dollar.

6. 06Some jurisdictions cannot use Fyber

   Residents and nationals of restricted jurisdictions may not use this interface. Accessing it through a VPN or any other means of circumvention is a breach of the terms and does not create any right.

7. 07fyUSD and sfyUSD carry no rights and no claim on any entity

   fyUSD and sfyUSD are balances produced by contracts. They carry no governance right, no vote, no share of profits and no claim against any company, foundation or person. Nothing in this interface or in this documentation is an offer, a solicitation or an invitation in respect of any other asset.

8. 08The issuer of your collateral can fail

   If the issuer or its custodian defaults, the price feed may keep publishing the price of the underlying share while the token itself is worth nothing. The protocol cannot detect or price this. It is a risk you take on the issuer, not on Fyber.

9. 09Nothing can be corrected after deployment

   No parameter can be changed once the contracts are live. An unanticipated corporate action, a spin-off for instance, can cause a definitive loss with no human safeguard in existence. A failing component causes the closure of its branch, not its repair.

10. 10One key exists, and it expires

    Until day 365 after deployment, a key held by the development company may freeze certain functions for at most 72 hours, liquidations and open sales for at most 24 hours and never twice within seven days on the same branch, and may irreversibly close a branch or the whole protocol. New Stability Pool deposits are refused while a liquidation freeze runs; withdrawals are not. The key can neither mint, nor modify a parameter, nor block repayments and withdrawals. After that date no human intervention is possible at all.

11. 11Out of session, the only price witness is a fixed set of Uniswap pools

    The pools that witness the price at the weekend are chosen before deployment and can never be changed. A coordinated manipulation of them can make positions sitting less than 4% above the threshold sellable at a price below the reopening price. The exposure is bounded: never more than 4% below the official print, and never more than 15% of a branch's debt across one weekend. On the measured depths it does not pay for the manipulator at any scale analysed, but it is possible. If those pools disappear, no out-of-session liquidation can happen at all and the amount you can borrow out of session is lower.

12. 12What a depositor should expect, and what nobody guarantees

    The structural yield expected of sfyUSD is 3 to 5% a year. The first months are higher because the Stability Pool is small, not because the protocol earns more. Neither figure is guaranteed by anybody, and both move with the average rate borrowers choose for themselves, which is set by the market. A depositor also holds the collateral side: liquidation gains arrive as stock tokens, a withdrawal above 20% of the wrapper's assets can be delivered in kind, and the pool takes an outright loss on any position that falls below the debt it owes.

Status of fyUSD

Not e-money. Not a deposit. Not insured.

Fyber is an immutable set of smart contracts. Borrowing against tokenized stocks carries the risk of liquidation and total loss of collateral. Nothing here is investment advice or an offer in a restricted jurisdiction.