Risks

• Upgradeable program. While an upgrade authority exists, an upgrade could change any rule. Check it on Verify on-chain.
• Admin controls. Besides vault withdrawals, the admin can pause new launches and deposits and pause the vault agent. Trading, refunds and claims don’t depend on it.
• Agent availability. If the agent is offline the vault doesn’t trade. Its status is public at /agents.
• Wind-down. Once a launch is at least 3 days old, no trade for 24 hours, and no tokens held outside the curve and vault, anyone can end it: its SOL goes to backers and trading stops for good.
• Bugs. The program and SDK are unaudited software.

A creator can’t touch the bundle, but can hold ordinary tokens bought on the curve like anyone else, and token metadata (name, image, links) is whatever they uploaded. Holdfast doesn’t vet launches.