Your access to and use of the Royco Dawn protocol is at your own risk. The protocol and its interfaces are provided on an “as-is” and “as-available” basis without warranties of any kind, either express or implied. Displayed yield rates reflect current conditions, are variable, and are not guaranteed. Past performance, including backtested or modeled results, is not indicative of future outcomes. First-loss protection is conditional upon Junior tranche capitalization and may be insufficient to prevent loss of principal. Deposits into Royco Dawn are not bank deposits and are not insured by the FDIC or any other governmental agency. You should not deposit funds unless you understand the nature of the protocol and the extent of your exposure to risk.