Not advice — This is transparency copy, not a prospectus.

​
Trading & model risk

Discretionary multi-asset basis risk — P&L can swing fast; total loss scenarios exist albeit tail.

​
Stack & oracle surface

Lagoon bytecode is audited factory output — no bespoke bytecode from Volta. Bug risk remains. Venue split: capital cycles Hyperliquid rails while settlement sits on Arbitrum — different domains (Lagoon audits).
  • Privileged roles gated in contract — manager wallet cannot skim USDC arbitrarily
  • Fee knobs locked post-deploy
  • Whitelist eviction path asymmetric by design — see Roles doc

​
Settlement truth vs dashboards

Screens can diverge — only curator-signed NAV settles flows.

​
Liquidity & venue

Weekly batch exits; Hyperliquid adds exchange-level tail.

​
Human + agent stack

Ops + ML tandem — correlation breaks can shred marks.

​
Investor safeguards

VLT90 stays in wallets you control; operators never bypass Lagoon flows to seize bearer shares offline.