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Risks & Disclosures

Read this before integrating Forge Treasury, depositing USDC, or interacting with $FORGE. Wording is based on counsel guidance in docs/research/R4-legal-memo.md and may be updated after formal legal review.

Last updated: May 22, 2026

Protocol status

  • Smart contracts are unaudited unless and until an external audit report is published on this site.
  • The conservative vault is deployed on Base mainnet in a private beta. Prior testnet history is available via the Sepolia subgraph link on /stats.
  • Key components may be stubbed or simplified in MVP builds (for example adapter swap paths or fee distributor buyback routing). Check /stats and MCP tool responses for live configuration.

Principal and smart-contract risk

You can lose some or all of your USDC. Forge Treasury is a non-custodial smart-contract system that routes USDC into underlying yield venues (Spark Savings, Morpho, Aave, and similar). Risks include:

  • Bugs in Forge vault, adapter, or token contracts
  • Bugs or pauses in underlying protocols
  • USDC depeg or issuer risk
  • Oracle, share-price, or redemption logic errors
  • Blockchain congestion, RPC failures, or failed transactions

There is no insurance and no principal protection unless you separately purchase third-party coverage (not provided by Forge).

Yield and APY

APY figures shown on this site, in MCP tools, and in agent prompts (including ~3.7% USDC + 2.0% FORGE) are target / illustrative blends based on underlying protocol rates and FORGE emission assumptions. They are:

  • Not guaranteed
  • Not promises of future performance
  • Variable and may differ materially from realised on-chain returns

Base USDC yield comes from third-party protocols. FORGE emissions are an inflationary usage subsidy — not a return on investment and not yield in the traditional sense.

$FORGE token

$FORGE is intended as a protocol usage and governance token, not an investment product. It may have no liquid market. Do not acquire FORGE based on expectations of price appreciation. Emissions are designed to be retroactive based on past vault usage, not bargained-for tasks advertised in advance.

Non-custodial model

Forge MCP tools return transaction calldata; your agent or wallet signs locally. Forge does not hold user private keys on the public production MCP endpoint. When merging Coinbase AgentKit locally, CDP-managed wallets are separate — do not deposit vault USDC through CDP wallets per project custody policy.

Fees

A performance fee may apply on profits above a high-water mark at withdrawal. Fee mechanics are contract-defined; bugs in fee accounting could result in unexpected charges. See /tokenomics for the intended model.

Regulatory and geographic restrictions

Forge Treasury may not be available to residents of New York, sanctioned jurisdictions, or any jurisdiction where use of the protocol would be unlawful. Nothing on https://forgetreasury.com is investment, tax, or legal advice.

Forward-looking statements

Any discussion of growth targets (including long-term AUM goals) is aspirational planning only, not a forecast or guarantee of results. Do not rely on such statements when deciding whether to deposit funds.

Support and status