# Risks This section explains the risks that you subject your funds to when you use Robin Markets. Firstly, like any other protocol, you are exposed to “smart contract risk”. This means that any protocol you use – no matter how well audited it is – always carries the risk of exposing funds to vulnerabilities due to code exploits (“hacks”). In Robin Markets V1 , this applies to our own contracts as well as third-party yield sources’ such as Yearn, Aave and Morpho smart contracts, in which user funds are deployed for generating yield. The vault provider Yearn has its own risks sections in its docs [here](https://docs.yearn.fi/developers/security/risks) and [here](https://yearn.fi/vaults/137/0xA013Fbd4b711f9ded6fB09C1c0d358E2FbC2EAA0). The second risk is temporarily locked up funds due to illiquidity. Lending market pools can potentially prevent lenders like us from immediately withdrawing all or partial funds if not enough liquidity is available. This is only temporary until borrow utilization decreases. What this means is that even though Robin is designed in a way to always allow withdrawals, you could be prevented temporarily from withdrawing your outcome tokens from Robin or from redeeming your winning tokens for USDC. We have completed a security audit with Phage Security in September 2025 for the beta product and in February 2026 for the Robin Markets Vault System. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://robin-markets.gitbook.io/robin-markets-docs/smart-contracts/risks.md?ask= ``` The question should be specific, self-contained, and written in natural language. 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.