> For the complete documentation index, see [llms.txt](https://brd-digital.gitbook.io/brd-digital-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://brd-digital.gitbook.io/brd-digital-docs/compliance/risk-disclosures.md). # Risk Disclosures What use of BRD involves, and the disclaimers that apply. Use of BRD involves risk, including the potential **loss of principal**. This page is the formal statement; the practical treatment of each risk is on Yield → Risks. ## Product risks * **Not insured.** BRD tokens are not insured by any government agency or deposit-guarantee scheme. * **Underlying asset risk.** Reserves are Brazilian Treasury LFTs and are subject to interest-rate risk and sovereign risk. * **Currency risk.** BRD is BRL-denominated. For holders whose accounts are kept in other currencies, holding BRD is foreign-exchange exposure. * **Variable yield.** Yield on vault products floats with Brazilian policy rates. **Past performance does not guarantee future results.** * **Liquidity and settlement.** Redemption and payout timelines depend on banking rails and calendars; vault products carry their own stated liquidity terms. On-chain transfers are irreversible once confirmed. ## Access restrictions BRD is available only to participants who have completed the required identity verification. Service availability varies by jurisdiction and is restricted in sanctioned regions — see KYC. ## What BRD Digital is not BRD Digital does not provide trading, discretionary portfolio management, or investment advisory services. BRD is offered as settlement and treasury infrastructure to eligible participants. Nothing in these docs constitutes investment, legal, or tax advice. ## General disclaimer This documentation is for informational purposes only and does not constitute an offer, solicitation, or recommendation to buy, sell, or hold any digital asset or security. Where these docs describe operational behaviour — timelines, processes, controls — they describe the platform as operated today and may be updated as the platform evolves. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://brd-digital.gitbook.io/brd-digital-docs/compliance/risk-disclosures.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.