> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hermetica.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# Risk Disclosures

This section outlines the **principal risks** associated with hBTC to support informed evaluation.

While the protocol is designed with systematic risk controls and transparency, participation involves exposure to infrastructure, smart contract, economic, operational, and general risks, which should be carefully reviewed prior to deployment of capital.

<Card title="Infrastructure Risk" icon="arrow-right" href="/hbtc/risk-disclosures/infrastructure-risk">
  Open Infrastructure Risk.
</Card>

<Card title="Smart Contract Risk" icon="arrow-right" href="/hbtc/risk-disclosures/smart-contract-risk">
  Open Smart Contract Risk.
</Card>

<Card title="Counterparty Risk" icon="arrow-right" href="/hbtc/risk-disclosures/counterparty-risk">
  Open Counterparty Risk.
</Card>

<Card title="Market Risk" icon="arrow-right" href="/hbtc/risk-disclosures/market-risk">
  Open Market Risk.
</Card>

<Card title="Operational Risk" icon="arrow-right" href="/hbtc/risk-disclosures/operational-risk">
  Open Operational Risk.
</Card>

<Card title="General Risk" icon="arrow-right" href="/hbtc/risk-disclosures/general-risk">
  Open General Risk.
</Card>