> ## Documentation Index
> Fetch the complete documentation index at: https://t3sa.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Risks and Considerations

> What can still go wrong and what remains open

* **Issuer concentration:** the portfolio depends on Ondo (USDY) and BlackRock (BUIDL). A counterparty or regulatory event affecting either one impacts the yield and, in an extreme scenario, the principal.
* **Dependence on Circle's rail:** CCTP is a critical component of the flow. A failure or pause in the protocol halts cross-network movement.
* **Rate risk:** the yield tracks the Treasury curve. A drop in the U.S. risk-free rate reduces the portfolio yield in the same direction.
* **No deposit insurance:** unlike a traditional bank account, there is no FDIC coverage or equivalent for the allocated balance.