Risk Disclosures: Valantis stHYPE Staking Vault

Non-Custodial Architecture

This vault operates on a fully non-custodial basis. Nansen does not hold, control, or take custody of any user assets at any point. The stHYPE liquid staking option is provided by Valantis Protocol, an independent third-party protocol. Nansen acts as a validator in the Valantis ecosystem and does not issue, control, or custody stHYPE tokens. Nansen's role is limited to operating the validator infrastructure that generates staking rewards; Nansen is not responsible for the smart contract code, protocol governance, or liquidity conditions of Valantis Protocol. Users retain on-chain ownership of their deposit at all times, represented by stHYPE pool share tokens in their own wallet. Nansen cannot unilaterally access, move, or freeze user funds.

1. Smart Contract Risk

Risk: Interacting with Valantis Protocol involves exposure to smart contract risk. A bug or exploit in any layer could affect staked assets. Smart contracts may contain bugs or vulnerabilities. While Valantis Protocol may have conducted audits, no audit eliminates all risk. You should review any available audit reports and protocol documentation before participating.

2. Validator Performance

Risk: Staking rewards are variable and depend on validator performance, network conditions, and Hyperliquid protocol parameters. Past performance of Nansen's validator is not indicative of future rewards. Nansen does not guarantee any specific yield or APR.

3. Liquidity Risk

Risk: stHYPE is a liquid staking token. Withdrawals are subject to a withdrawal processing queue and a minimum delay. Under high withdrawal demand, the time to receive funds may be extended. The ability to sell or redeem stHYPE at or near its underlying HYPE value is not guaranteed at any given time.

4. De-peg Risk

Risk: stHYPE represents a claim on staked HYPE and accrued rewards. In certain circumstances, including smart contract failure, validator slashing, or market conditions, stHYPE may trade at a discount to the value of the underlying HYPE.

5. Hyperliquid Protocol Risk

Risk: Future changes to the Hyperliquid base protocol — including hard forks or consensus rule updates — could affect staking yields or withdrawal mechanics.