> ## Documentation Index
> Fetch the complete documentation index at: https://docs.redpotion.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Risk controls

> Every deposit and redemption is screened by the fund's RiskManager before it's accepted. Each control below is optional and configured per fund — a value of zero (or an unset white

Every deposit and redemption is screened by the fund's [RiskManager](/developers/contract-reference/risk-manager) before it's accepted. Each control below is **optional and configured per fund** — a value of zero (or an unset whitelist) disables that check. This page explains what each control does from an investor's perspective.

All value-based limits are measured in the **fee base asset**, so caps and minimums across different deposit assets are compared on a common scale.

## The controls

**Emergency pause.** A kill switch. When active, it blocks *all* deposits and redemptions immediately. Used only in emergencies. See also the per-asset and global pauses on the queues, which are narrower tools.

**Depositor whitelist.** A fund can restrict deposits to an approved set of addresses using a merkle root. If enabled, you must supply a proof of membership when depositing; non-members are rejected. Applies to deposits only.

**Drawdown gate.** Protects investors during a downturn. If the fund's base price has fallen more than a configured percentage below its high-water mark, new deposits are blocked. This keeps new depositors from entering into a fund that's underwater and protects existing holders from dilution at depressed prices. Applies to deposits only.

**Minimum sizes.** A fund can require a minimum deposit and a minimum redemption, each valued in the base asset, to avoid dust-sized requests.

**Per-batch caps.** A fund can cap the total value deposited — or redeemed — in any single batch. Once a batch hits its cap, further requests of that kind wait for the next batch.

**TVL cap.** A ceiling on the fund's total value. Deposits that would push the fund over its TVL cap are rejected. Applies to deposits only.

## When checks are evaluated

Risk checks run at **request time**, valued against the last accepted price. The batch itself settles later at the *next* accepted price. So a check tells you your request is admissible now; it does not lock in your execution price (see [Depositing](/using-redpotion/depositing)).

If a fund enables no value-based checks at all, price lookups are skipped entirely — which is what lets the very first batch accept deposits before any price exists.

## Pausing, at three levels

Beyond the emergency pause, funds have finer-grained pause tools:

| Level                         | Effect                                                   |
| ----------------------------- | -------------------------------------------------------- |
| Emergency pause (RiskManager) | Blocks all deposits and redemptions                      |
| Global queue pause            | Blocks all actions on a single queue (deposit or redeem) |
| Per-asset pause               | Blocks new requests for one specific asset only          |

## Estimating before you commit

The RiskManager exposes read-only helpers — `estimateDeposit` and `estimateRedeem` — that front-ends use to show you the shares or assets you'd receive at current prices, after fees. These are estimates only; actual settlement uses the next accepted report's price.