- No contract has been audited.
- One attester signs the terms, inside guardrails it cannot loosen.
- Figures can be wrong or minutes old; the site shows their age.
- Kerb Credit runs on testnet with tokens that have no value.
- A tokenized stock is not the stock, and its exit can vanish when its market is shut.
01Unaudited contracts
No Kerb contract has been audited. They are covered by unit, fuzz, invariant and mainnet fork tests and a dispositioned static analysis (SECURITY.md in the repository). That is not an audit, and it does not rule out a defect.
02A single attester
Terms are signed by one attester key. KerbTerms enforces guardrails the attester cannot loosen: bounded loan-to-value limits, a fixed liquidation line per asset, tightening that takes effect at once and loosening in small steps after a cooldown, and a maximum report age after which terms become unusable. A faulty or compromised attester could still post terms that are tighter than warranted, or stop posting.
03Data can be wrong or late
The reference price is issuer data checked against an independent public source, not a verified oracle report. Pool readings describe one moment: depth can change within minutes, as it did in the BRK.Bx pool on 23 September 2026. Terms are posted every few minutes, so a figure can be minutes old; every live figure shows its age.
04Testnet credit
Kerb Credit runs on X Layer testnet with mirror collateral and mUSDG, a test loan asset. Its outcomes demonstrate the mechanism. They say nothing about returns, losses or liquidations on real assets.
05Tokenized stocks
A tokenized stock is a token that tracks a share; it is not the share. When the underlying market is shut no new reference price arrives, and the onchain pool may be the only exit, sometimes a thin one. Some tokenized stocks are restricted in some jurisdictions.
06Agents and contracts
An agent or contract that reads Kerb receives a computed figure at one moment. Before acting it should check that the terms are usable, how old they are, and the inputs hash, and treat no answer as a guarantee.
Effective 23 September 2026. Questions: open an issue. See also the FAQ.