Risks
Read this before depositing. Nothing on Chop is guaranteed.
- Smart contracts. This Chop deployment has no published audit evidence yet. Contract failures can cause losses or prevent exits.
- Upgradeable code. The upgrade-key holder can replace the code behind every log and controls the factory used for future logs. These powers may later move to a multisig or be removed permanently. See Who can change what.
- Unverified logs. Anyone can create a log. Unverified logs haven't been reviewed by Chop and may wrap scam or broken tokens.
- Impermanent loss. Farming can leave you with less than holding. See Farming.
- Fees. Wrapping and unwrapping each cost up to 1%, depending on the log. Short round trips lose money.
- Historical APY is backward-looking. Backing APY annualizes observed cumulative backing growth since launch. Farmer APY remains unavailable without historical stake/reward values. These figures do not predict future results.
- $CHOP price. At launch, rewards are paid in $CHOP, which can fall in value.
- Paired-token risk. Half of a farm starts in the selected paired token. Its price and liquidity affect the position.
- $CHOP rewards. A sharp fall in $CHOP lowers the value of farmer rewards.
- Log token price. A log token can trade below its backing in its pool, especially when liquidity is thin. You can redeem at the contract's backing ratio, minus the unwrap fee, only while the exit succeeds. Frontend unwrapping is currently unavailable; contract/reward failures can also prevent exits.
- The chain. Robinhood runs the sequencer that orders transactions on Robinhood Chain. It could delay or refuse them.
- Tokenized stocks. Logs that wrap tokenized stocks depend on the issuer's transfer rules.