# Risk

**USDe**\
USDe, the supported asset for principal deposits and withdrawals, is a synthetic dollar issued by Ethena and backed by delta-hedging derivatives positions in perpetual and futures markets. Users accept the full risk associated with its stability and performance. \
Please DYOR [here](https://docs.ethena.fi/).\
\
e**USDe**\
eUSDe, the supported asset for principal deposits and withdrawals, is the receipt token for USDe pre-deposits into Ethereal. eUSDe is redeemable for USDe (1:1) at any time. Users accept the full risk associated with its stability and performance. \
Please DYOR [here](https://docs.ethereal.trade/).\
\
**lvlUSD**\
lvlUSD, the supported asset for principal deposits and withdrawals, is a stablecoin fully backed by USDC and USDT. Users accept the full risk associated with its stability and performance. DYOR [here](https://level-money.gitbook.io/docs).

**Third-Party Protocols**\
Integration with protocols such as Pendle Finance (Principal-Token) for yield generation and structuring of 100% principal protection introduces risks if these protocols encounter issues. \
Please DYOR [here](https://docs.pendle.finance/).

**Counterparty** \
Execution of option strategies through CEXs and/or market makers introduces risks, including insolvency, default, or exchange failure. Liquidation risk does not apply as the option strategies maintain a net long exposure.

**Market Risk**\
Fluctuations in the market price of the options strategy and Pendle Finance's Principal-Token, particularly before maturity, can impact returns. Users accept that early withdrawals may result in receiving less than their initial principal deposits.

**On-Chain Security**\
Vulnerabilities in smart contracts or on-chain operations could be exploited, leading to potential loss of funds. 

**Network**\
Users accept the risk of technical issues on the Ethereum blockchain, including forks or node problems, and SuperHedge is not responsible for any resulting losses.


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