There are numerous risks associated with Basin. This is not an exhaustive list.
The Basin code base is novel. None of its components have been tested in the “real world” prior to its initial deployment. The open source nature of Basin means that others can take advantage of any bugs, flaws or deficiencies in it.
Basin is deployed on the Ethereum network. The security of the Ethereum network is assumed.
While Basin and an initial implementation of each of its components (except Aqueduct, which has not been implemented) have been audited it is no guarantee of security.
Particularly before the development of an Aqueduct, each component should be verified by users in order to ensure proper functionality.