Agent RockSteady

Market.

Market risk reads low, set by its worst component (worst fall suffered, shared exposure, distance to liquidation) over the record we hold.

Liquidity.

Liquidity risk reads low, set by its worst component (could you get out) over the record we hold.

Depositor concentration.

Depositor concentration risk reads low, set by its worst component (largest depositor) over the record we hold.

Operating.

Operating risk reads low, set by its worst component (stopped operating) over the record we hold.

Controller.

We could not read who may move the money here, so there is no reading.

Evidence.

6 of the 6 risk components that apply to this vault carried a reading.

Low observed risk is not zero risk. Market here is three observed readings: the worst fall in the vault's past share price, how much of its lending shares a market with other vaults we track, and how far its own borrowing is from liquidation. It does not assess the collateral, the borrowers' ability to repay, a concentration in one market (read under where the capital rests), or whether withdrawals hold under stress. The overall band weighs every component together instead, so it can read better than this and is not in conflict with it: a dimension says how bad its worst reading is, the band says what the whole weighs.

Low observed risk is not zero risk. Input: 93.0% of it could be withdrawn at the last reading, from the venue's own withdrawable over account value, from its latest margin reading — We hold what this vault is worth and not what is uninvested, so the two cannot be checked against each other.. The reading 0.00 is one less that share over 25%: a quarter or more free reads 0, nothing free reads 1. The overall band weighs every component together instead, so it can read better than this and is not in conflict with it: a dimension says how bad its worst reading is, the band says what the whole weighs.

Low observed risk is not zero risk. It measures how much of the vault its largest depositor holds, not how much the vault lends into one market; that is the allocation table. Input: largest wallet holds 21%, by the address's position; addresses are not merged by who owns them, and whether the largest is a person, another vault or a custodian is not established. The reading 0.00 is that share less 25%, over 75%: a quarter or less reads 0, the whole vault 1. The overall band weighs every component together instead, so it can read better than this and is not in conflict with it: a dimension says how bad its worst reading is, the band says what the whole weighs.

Low observed risk is not zero risk. The overall band weighs every component together instead, so it can read better than this and is not in conflict with it: a dimension says how bad its worst reading is, the band says what the whole weighs.

Unexamined is not acceptable, and this is not part of the overall band either way.

By weight, 100 of the 100 points that apply were read, which is 100% of the component weight the band could draw on (a different denominator: components are not equally weighted). This is a statement about our coverage and carries no level of its own, because how much we could read is not a risk the vault runs.