You are exposed to the Piku ecosystem, and you bear its risk.
The vault deploys USDC into "Piku Ecosystem Vaults" markets on Morpho. Your USDC is supplied against collateral that is itself a share of a Morini strategy vault. 9Summits curates and optimises liquidity on those markets; we do not control or guarantee the underlying strategies.

The collateral is non-liquid and priced off NAV.
The collateral is made of strategy vault shares (Morini CarryTradeUSDTRYLeverage, StockMarketTRBasisTrade, FXArbUSDTRY, USP). Morpho's oracle prices these off the underlying strategy's net asset value, not a live traded market price. There is no deep secondary market to exit these positions quickly. If a strategy's NAV falls, the price the protocol sees falls with it.

Redemption risk.
Underlying strategy vaults may restrict, delay, or freeze redemptions, in some cases without immediately marking down NAV. If redemptions freeze, the vault cannot exit those markets on demand, and the liquidity available to withdrawing depositors is limited to what remains liquid.

No principal protection. No guaranteed yield.
APY is variable, reflects current market conditions, and can fall. This vault does not guarantee your principal or any stated yield against strategy or market loss.