> For the complete documentation index, see [llms.txt](https://pool-party-xyz.gitbook.io/pool-party-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pool-party-xyz.gitbook.io/pool-party-docs/pool-party-v2-docs/risk-framework-and-disclosures.md).

# Risk framework & disclosures

This page gathers the protocol's risk types. For the user-facing breakdown, see Understand risk. The full legal notice is in the Disclaimer.

**Protocol risks**

* **Smart contract risk:** bugs or failures in contracts. Pool Party has not yet been audited (see Audits).
* **Market risk:** the value of pools' positions changes with the market.
* **Strategy risk:** a manager's decisions within the mandate may or may not work out.
* **Asset risk:** each asset class carries its own risks.
* **Bridge and third-party risk:** bridges and external protocols accessed by adapters carry their own risks.

{% hint style="info" %}
On-chain transparency helps you evaluate a pool on the facts, but it does not remove any of these risks.
{% endhint %}

#### Responsible disclosure

If you find a security vulnerability, please report it responsibly before disclosing it publicly.

**How to report**

Report it by opening a ticket on our [Discord](https://discord.com/invite/2Tcn6jqGRu). Describe the vulnerability in as much detail as possible and wait for the team to get in touch.

{% hint style="info" %}
Please do not exploit or publicly disclose a flaw before giving us time to fix it.
{% endhint %}


---

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