1. Read this before you use the Converter or Desk
Digital assets and RWA tokens can go to zero, become illiquid, or be reclassified as securities or commodities. You can lose keys. Software can fail. These disclosures are not exhaustive. They do not replace your offering documents, risk factors, or counsel memo.
2. Regulatory and Howey risk
Whether an Instrument is a security is a facts-and-circumstances analysis under SEC v. W.J. Howey Co. and subsequent U.S. authority (and analogous tests elsewhere). Utility wrappers, burn-on-use design, transfer locks, and residual scores do not guarantee a non-security outcome. Agencies can disagree with your facts or with the Converter’s weights.
A generated memorandum is not a legal opinion. If you offer or sell an Instrument in the United States, you must register or find a valid exemption, or you must be outside the securities laws because the instrument is not a security—an analysis Operator does not perform for you.
State blue-sky laws, broker-dealer registration, ATS registration, investment-company status, adviser status, FinCEN MSB rules, and non-U.S. prospectus rules may apply independently.
3. Real-world asset risk
On-chain tokens may not match off-chain title. Custody of property, receivables, IP, carbon credits, or health data can fail. The custody packet and attestation hash in this interface are completeness records, not a title opinion or UCC filing. Oracles in this build are officer-posted as-of dates, not independent price feeds. Servicers can default. Insolvency of an issuer or SPV can strand holders. Freeze does not recover assets moved outside this interface. Healthcare and genomic templates in the Converter are especially sensitive: privacy law (including HIPAA where applicable) can forbid the structure you sketched.
Valuations you type into the Converter are not appraisals.
4. Market, liquidity, and model risk
The Desk’s seed order book and liquidity bins are models. They can be thinner or thicker than any live market. Spreads can gap. LP capital can be adverse-selected. Paper fills can differ from future on-chain AMMs or order books.
SBRV may have no liquid market. USDC is a third-party stablecoin with issuer, banking, and depeg risk. Displaying USDC as quote does not make Operator a Circle affiliate.
5. Software, key, and network risk
Bugs, browser crashes, localStorage loss, RPC failure, chain reorgs, and wallet malware can cause loss. Smart contracts, when deployed, can be exploited. Admin keys, if any, are a centralization risk. You must test on a test network before mainnet.
If you lose a key, Operator cannot recover assets.
6. No FDIC, SIPC, or investor-compensation scheme
Balances shown in the Desk are not deposits. They are not insured by FDIC or SIPC and are not covered by a foreign investor-compensation scheme by virtue of using the Service.
7. Conflicts and information quality
Operator may hold SBRV or related IP. Documentation may be incomplete or become stale. White Paper forward-looking statements are aspirations, not promises. Third-party market data (TradingView) can be delayed or wrong.
8. Tax
Tokenization, wrapper burns, LP, and swaps can be taxable events. Operator does not provide tax advice. Obtain a tax adviser who understands digital assets and the underlying RWA.