Risk disclosures

Trading new tokens on a public network is among the riskiest things you can do with money. This page states the main risks in plain language. It is not exhaustive and it is not advice. [Counsel to confirm whether a jurisdiction-specific risk warning or appropriateness test is required.]

1. You can lose the entire amount

Most newly launched tokens lose most or all of their value, often within hours. A token can lose all liquidity, have its supply increased by its creator, have holder accounts frozen, or simply be abandoned. Treat every amount you put into a new token as one you may not get back, in whole or in part.

2. New-token risk

• Concentration: a creator, a bundle of linked wallets or a few large holders can sell into any demand and move the price far more than the rest of the market.
• Authorities: while mint authority is enabled the supply can be increased; while freeze authority is enabled your account can be frozen. Revoked authorities can still have been abused before revocation.
• Liquidity: a pool that is not locked or burned can be withdrawn by whoever holds its tokens.
• Information: new tokens have minutes of history. Names, symbols and social links can imitate other projects.
• The Software's risk score and flags are derived from on-chain data at a moment in time. They can be wrong, late or incomplete, and a low score is not a safe token.

3. Slippage and price impact

The price you are quoted is not the price you will get. In a thin pool your own order moves the price (price impact), and the price can move between the quote and execution (slippage). The Software prints both and sets a minimum you will receive; if the market cannot deliver that minimum, the transaction fails. Exiting a position can have a much larger impact than entering it.

4. Failed, delayed and irreversible transactions

Transactions can fail to land because of network congestion, an expired quote, insufficient priority tip or a program error. A failed transaction still consumes the network fee. A transaction that lands cannot be reversed by anyone; if you change your mind, the only remedy is another transaction at the then-current price. Nothing in the Software can undo a trade.

5. Automation limits

• A stop or target has a trigger price, not a guaranteed fill price. In a fast market the fill can be far from the trigger, or the order can fail.
• Rules run only within the caps you set, but within those caps they run without asking unless an ask-first threshold holds them. Set caps you can afford to lose.
• A simulation replays a rule over past data. Past data does not predict future prices.
• Copying a wallet copies its mistakes and its exits may not be visible to you in time.
• Rules depend on the Software and on third-party networks being available. An outage can mean a rule does not fire.

6. Signals are not advice

Risk scores, badges, feeds, aggregation lines, leaderboards and simulations are signals, not recommendations. The Software does not know your circumstances and does not decide trades. A leaderboard shows past realised results of a subset of wallets over a window and says nothing about future results or about open positions.

7. Custody and access

Your keys are held in a wallet provider's secure environment unlocked by your sign-in: a code to your email, or a passkey you add. If you lose access to that email and every registered passkey and have not exported the wallet, no one, including us, can recover it. Policies you create let the Software sign within caps until you revoke them; review them regularly.

8. Technology and third parties

The Software depends on networks, programs, routers, RPC providers and a wallet provider operated by others. Bugs, outages, exploits and changes in any of them can cause loss. The Software itself can contain errors.

9. Regulatory and tax

The legal treatment of tokens and of this Software varies by jurisdiction and can change. You are responsible for determining whether use is lawful for you and for any tax that results. [Regulatory status of the Software: to be determined by counsel per jurisdiction.]