# Risks

#### Saber Risk Disclaimer

**Introduction:** Participating in Saber decentralized stablecoin exchange involves significant risks. Users must understand and acknowledge these risks before engaging in the protocol.

**Key Risks:**

1. **Market Risk:**
   * **Volatility:** Token values can fluctuate due to market conditions, potentially leading to significant losses.
   * **Depegging:** Tokens might lose their peg to their intended value, causing instability.
2. **Liquidity Risk:**
   * **Low Liquidity:** Difficulty in buying or selling assets without substantial price impact.
   * **Withdrawal Delays:** Potential delays in accessing funds due to liquidity constraints.
3. **Protocol Risk:**
   * **Smart Contract Vulnerabilities:** Potential for bugs, exploits, or malicious attacks. \[Link to audit] (<https://github.com/saber-hq/stable-swap/blob/master/audit/bramah-systems.pdf>)
   * **System Failures:** Risks associated with protocol malfunctions or errors.
4. **Operational Risk:**
   * **Oracle Issues:** Incorrect pricing data can lead to improper collateral evaluations.
5. **Regulatory Risk:**
   * **Legal Compliance:** Changes in regulations can impact the protocol and user participation.

User should thoroughly research and understand the risks and mechanisms of the protocol and ensure compliance with applicable laws and regulations.

**Disclaimer:** Engagement with Saber exchange is at the user’s own risk. Saber does not guarantee the security, profitability, or stability of the protocol. Users should seek advice from financial, legal, and tax professionals before participating. For detailed information, visit the [Saber Documentation](https://docs.saberdao.io/).


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