Legal

Risk Disclosures

Last updated: August 28, 2026

This is not a bank or broker-dealer

Coupon is a non-custodial smart contract interface, not a bank, broker-dealer, or investment adviser. Deposits are not covered by FDIC or SIPC protection, and there is no deposit insurance of any kind.

You control your funds — and your keys

Because vaults are non-custodial, only you can access your deposit, using your own wallet's private key or seed phrase. Coupon cannot recover funds, reverse a transaction, or reset access if you lose your keys.

Smart contract risk

Vault contracts may contain bugs or vulnerabilities, despite testing or audits. A smart contract exploit could result in partial or total loss of deposited assets.

Market and strategy risk

Covered-call vaults cap upside above the option's strike price in exchange for premium income. If the underlying Stock Token falls sharply, the premium collected will not fully offset the loss. This is not a stablecoin and not principal-protected.

Stock Token structure risk

Stock Tokens are tokenized debt securities that provide economic exposure to an underlying equity — they do not grant direct legal or beneficial ownership of the underlying shares. Your position depends on the continued performance of the token issuer.

Dividend and corporate action risk

Stock Tokens use an on-chain multiplier to reflect dividends and stock splits. While vault accounting is designed to read this multiplier correctly, an error or delay in how a corporate action is reflected on-chain could temporarily affect a vault's reported value.

Oracle and pricing risk

Strike selection and settlement rely on on-chain and off-chain price data. Any delay, manipulation, or inaccuracy in that data could affect the timing or fairness of a vault's option settlement.

No guaranteed yield

APY figures shown are trailing and historical where indicated. Future premium income depends on market volatility and option demand, and may be lower, zero, or negative in net terms after losses on the underlying token.

Regulatory risk

The regulatory treatment of tokenized securities and DeFi protocols is still developing in most jurisdictions and may change in ways that affect access to, or the legality of, this Interface.

Sanctioned jurisdictions

This Interface is not available to persons or entities in Iran, North Korea (DPRK), Russia, or any other jurisdiction subject to comprehensive sanctions administered by the U.S. Office of Foreign Assets Control (OFAC). Accessing or attempting to use the Interface from a sanctioned jurisdiction is a violation of these terms.

Do your own research

Nothing here is a substitute for your own due diligence. Only deposit funds you can afford to lose.

Contact

Questions about a specific risk on this page can be directed to help@coupons.finance.