Legal & disclosures

This page exists so nothing here is mistaken for something it isn't.

This documentation is not a legal agreement

Everything in this site explains how the protocol works. It doesn't constitute Terms of Service, a Privacy Policy, a risk disclosure, or investment advice, and using it doesn't create a legal agreement between you and anyone.

The formal documents are published and now live alongside this page:

None of them has been reviewed by a lawyer yet, and each says so at the top. They're published in draft because a trader paying for an evaluation with no terms at all is worse off than one reading terms counsel hasn't marked up. No operating company has been formed to issue them under, which is why several sections name a gap instead of an answer. They'll be reissued once that changes.

Your own trader-facing Terms of Service come from the firm you buy from, at that firm's storefront, not from this page.

The facts, stated plainly, live throughout this documentation

Rather than duplicate the substance in a separate legal page and risk the two drifting apart, the material facts a legal disclosure would cover are stated directly, in plain language, in the pages where they're actually relevant:

What's simulated vs. real: How trading works
What backs a payout, and the layers behind it: Tokenomics & liquidity
The guarantees that hold regardless of firm: Trader protections
What hasn't been independently audited yet: Security & audit status
What an operator is and isn't exposed to: Operator risk & lifecycle

If you're thinking about operating a firm

The question every prospective operator asks is whether they need a licence, or whether running a firm is permitted where they live. This site will not answer it, and you should be suspicious of any platform that does.

An answer from us would carry no weight with a regulator. You would still need your own lawyer, and you would have paid a deployment fee on the strength of an opinion we had no standing to give. That is not caution, it's the honest limit of what we're able to tell you.

What we can do is describe the arrangement precisely, which is the part most people in this position can't produce. Most prop-firm operators can't get a useful answer from a lawyer because they can't say who decides a trader's outcome, who holds the money, or who could refuse a payout. Here those answers are exact, and most of them are enforced by on-chain programs rather than by our good behaviour:

What you control, and the much longer list of what you don't: Operating a firm
What you're exposed to, and why there's no voluntary exit: Operator risk & lifecycle
Why you can't influence a fill even if you wanted to: How fills are actually fair

The short version is that a firm on this protocol is a brand and a storefront on shared infrastructure. It doesn't run the engine, set the rules, decide who passes, hold trader funds, or release payouts. Several of those aren't permissions we withhold, they're rejected by the programs themselves.

Once you've deployed, the operator console carries the same material in more detail, including the specific questions worth putting to a lawyer in your jurisdiction. Two are worth thinking about before you get that far: whether a non-refundable evaluation fee is treated as a wager where you are, and whose rules apply when a trader in another country buys from your storefront. Operators consistently underestimate the second one, because where your traders are usually matters more than where you are.

What isn't decided yet

No operating legal entity has been formed, no governing law or jurisdiction has been set, and no KYC/AML policy has been finalized platform-wide, these are open items being worked through ahead of mainnet, not oversights. Nothing on this site should be read as resolving any of them in advance, including the documents linked above, which describe these same gaps rather than closing them.

Data this site and the protocol collect

Using the protocol means interacting with public blockchain infrastructure: wallet addresses and on-chain activity are public and permanent by nature, that's inherent to how Solana works, not a policy choice this project makes. Beyond what's on-chain, no government-issued ID or personal identity verification is collected by the protocol itself today.