Risks & protections.

Issuer powers stay

Pause, freeze and permanent delegate can still halt or drain the pool vaults; the vault cannot prevent that. The scaled-UI multiplier (dividends, splits) shifts the fair raw price, and arbitrage takes that value from LPs. That is why there is a pause and a per-issuer watcher (the Tape).

Deposit pause

set_deposits_paused is the admin's circuit breaker for issuer events (pause, freeze, depeg). Redemptions stay open.

No oracle, no donation attack

Deposits and withdrawals are priced by cp-amm's own L × reserve / L_total rule, rounding against the user. Only the vault can add liquidity to its position, so tokens sent to the vault do not change what a share is worth.

Full range

The pool is full range (x·y = k). Capital is used less efficiently than in a concentrated pool. The production path is a DLMM position concentrated at the peg, with a keeper that compounds fees.

Devnet only

Everything here runs on Solana devnet with test tokens. Nothing uses real funds.

TODO Audit status and a disclosure policy are not published yet.