Risks: read this

If you read one Trench page before putting money in, read this one. Nothing here is investment advice.

Launches

Most launches go to zero. A bonding curve is speculation. Its price measures how much has been bought, not what the token is worth. Most launches never graduate, and most graduated tokens lose value.
Locked liquidity is not a price floor. The pool's liquidity can never be pulled, but if holders sell, the price still falls.
Payouts depend on volume. Holder payouts come only from trading fees. If nobody trades, nobody is paid. A creator who chose 0% for holders pays nothing at all.
The first payout of a launch with a dev buy goes to the creator. See the first cycle.
Creator details are self-reported. Logos, descriptions and links are the creator's own claims. Vimen does not check them. The curated label means someone burned $VIM; it is not an endorsement.
Copycats exist. Anyone can launch a token with any name. Check the token address, not the ticker.
$TRENCH can sell its 2%. Every launch gives 2% of its supply to $TRENCH, which can sell it slowly: at most 2% of the bag per token per day, by a limit written in the contract.

The issuer has powers. NVDA, AAPL, TSLA and SGOV are issued by Robinhood; USDG has its own issuer. An issuer can pause transfers, block wallets or burn tokens. Trench cannot remove this risk.
What that means for you: a launch quoted in a paused stock cannot be bought, sold or paid out until the pause lifts. A blocked wallet is skipped by payouts. A pause on USDG or SGOV makes $TRENCH redeems fail until it lifts.

Weekends. Deposits are refused when the USDG or SGOV price feed has not updated for more than 25 hours, which can happen over weekends. Redeem does not read feeds.
Paper value is not counted. The 2% token bags and the pool claims (tPOL) are valued at zero in NAV. You receive them in kind when you redeem, but they may be worth nothing, and tPOL has no way to be turned back into liquidity.
Depositing just before a payout. The share price includes USDG income waiting to be paid out. If you deposit just before it is swept to the payout contract, that income goes to existing holders and your shares lose your part of it.
Fee income on WETH and stock launches waits for Vimen. $TRENCH's 30% of those pool fees sits in the FeeRouter until the Vimen Safe converts it to USDG. Only USDG launches pay $TRENCH directly.
What the owner can do. The Vimen Safe can move principal from USDG into SGOV (each move can lose at most 1%, repeatable, with no way back to USDG), sell token bags slowly (2% of a bag per token per day) and convert fee income to USDG. It cannot pause redeem or move principal anywhere else.

Payout exclusion list. The Vimen Safe can add any address to a payout contract's exclusion list, on a launch or on $TRENCH. It is meant for pools and infrastructure. An excluded wallet stops receiving payouts from the next snapshot. It cannot touch your tokens or your redeem.
One wiring slot is still open. The FeeRouter can be connected, once, to a future credit facility. Only the deploy key can do it, not the Safe, and today nothing is connected. If it were, the facility would take repayments from the USDG fees a creator keeps while that creator has a credit line open, and Vimen could also point its own 20% of USDG fees there. A faulty facility could stop fee routing on USDG launches, including the holder and $TRENCH shares. See Trench addresses.
Bots are a convenience. Vimen runs bots that trigger payouts and fee routing. If they stop, every one of those functions is public and anyone can call it.

Vimen is not available to US, UK, Canadian, Swiss or UAE persons. The hosted app is geoblocked accordingly.