Terms of service • Perpetuals

1. Acceptance of these Terms

You should read these Terms carefully before using the Service. If you do not agree to them, do not access or use the Service. Your use of a wallet, smart contract, application, API, or third-party interface to access any part of the Service is also subject to these Terms.

Smart contracts may continue to operate independently of any website or interface. These Terms apply to your use of the Service regardless of how you access the relevant contracts.

2. Eligibility

By using the Service, you represent that:

you are at least 18 years old and legally able to agree to these Terms;
your use of the Service is lawful in every jurisdiction that applies to you;
you are not subject to sanctions and are not acting for a person or entity subject to sanctions;
you are not located in, organized in, or ordinarily resident in a jurisdiction where your use of the Service is prohibited; and
if you act for an organization, you have authority to bind that organization to these Terms.

You are responsible for determining whether laws, licensing rules, financial regulations, tax rules, or other restrictions apply to you. Access may be restricted based on location, legal requirements, third-party rules, or risk controls.

3. The Service

Perpetuals provides software for interacting with blockchain-based products and third-party protocols. Depending on the feature, the Service may allow users to launch and trade tokens, configure tax-funded perpetual strategies, view market data, participate in governance, receive onchain distributions, or access tokenized assets.

The Service does not guarantee that any transaction will be accepted, executed, settled, or remain available. Features may be provided through smart contracts, decentralized networks, external trading venues, issuers, bridges, or other service providers.

References to a token, asset, strategy, market, issuer, company, or third-party service do not constitute approval, endorsement, sponsorship, or a guarantee of legitimacy or performance.

4. Wallets and blockchain transactions

You must use a compatible wallet to submit transactions. You are solely responsible for your wallet, private keys, seed phrase, devices, credentials, transaction approvals, and account security. We do not have access to your private keys and cannot reverse, cancel, or recover transactions that you authorize.

Blockchain transactions are generally public and irreversible. Before signing, you must verify the contract address, network, token, recipient, amount, approvals, slippage, fees, and all other transaction details. A displayed estimate or simulation may differ from final execution.

You are responsible for revoking approvals you no longer need and for protecting yourself against compromised interfaces, malicious contracts, phishing, impersonation, and wallet-provider failures.

5. Token launches and trading

Token creators are responsible for the names, symbols, descriptions, media, links, strategy settings, tax settings, and other information they submit. A creator must have all rights required to use that content and must not make false, misleading, infringing, or unlawful claims.

Tokens launched through or displayed by the Service may have no intrinsic value, redemption right, ownership claim, revenue claim, or guaranteed market. Token prices may be highly volatile, markets may be manipulated or illiquid, and a token may lose all value.

Trading taxes, transfer restrictions, liquidity arrangements, bonding curves, market migrations, governance rights, and other token mechanics vary by token. You must review the applicable onchain configuration before launching, buying, selling, holding, staking, or otherwise using a token.

6. Perpetual strategies and leverage

The Service may connect token-related vaults or accounts to perpetual-futures strategies on an external venue. Perpetual contracts are complex, leveraged products. They can experience rapid losses from market movement, leverage, liquidation, funding payments, fees, slippage, order-book conditions, oracle behavior, latency, or execution failure.

A saved strategy, allocation, direction, leverage value, or market selection is an instruction or configuration, not a promise that the venue will continuously hold a matching position. Execution may depend on keepers, credentials, APIs, relayers, or other offchain systems.

Strategy capital can be partially or completely lost. Past, simulated, estimated, or displayed performance does not predict future results. No strategy is guaranteed to be profitable, remain hedged, avoid liquidation, or return funds to tokenholders.

7. Tokenized stocks and other referenced assets

The Service may provide access to tokens, markets, or products that reference stocks, funds, commodities, currencies, indexes, or other real-world assets. These products may be issued, collateralized, priced, traded, redeemed, or administered by third parties.

Unless binding terms for a specific product expressly state otherwise, a token that references a stock does not make you a shareholder of the referenced company and does not give you voting, inspection, redemption, brokerage, or ownership rights in the underlying stock.

A tokenized asset may trade at a premium or discount to its reference asset. Its price, availability, collateral, redemption process, market hours, corporate-action treatment, and holder rights depend on the relevant issuer, venue, custodian, oracle, and product terms. Trading may continue while the underlying market is closed, or may be suspended when the underlying market is open.

Tokenized assets may be regulated differently across jurisdictions and may be unavailable to some users. You are responsible for reviewing the product-specific terms and confirming that you are permitted to acquire, hold, trade, or redeem the asset.

8. Dividends and other distributions

The Service may display or facilitate different kinds of distributions. A protocol-level “dividend” may be funded by token trading taxes or strategy proceeds. A distribution connected to a tokenized stock may instead depend on the third-party issuer’s treatment of a corporate dividend. These are separate mechanisms.

No dividend, yield, reward, buyback, burn, rebate, or other distribution is guaranteed. Eligibility and amount may depend on smart-contract rules, snapshots, minimum balances, exclusions, claim deadlines, taxes, fees, available revenue, successful conversion, venue settlement, issuer policy, and applicable law.

A reference company declaring a dividend does not guarantee that a tokenized product will pay an equal or corresponding amount. Distribution rights, if any, are governed by the terms of the specific token or issuer and the relevant onchain configuration.

9. Third-party services and dependencies

The Service depends on systems that we do not control, which may include blockchain networks, wallets, RPC providers, trading venues, token issuers, custodians, market makers, bridges, indexers, APIs, stablecoins, decentralized exchanges, launch platforms, oracles, and data providers.

Your use of a third-party service may be subject to separate terms, fees, eligibility rules, privacy practices, and risks. We are not responsible for the availability, security, accuracy, conduct, solvency, compliance, or performance of a third party.

Links and integrations are provided for convenience. You must evaluate third-party services yourself before using them.

10. Fees, taxes, and reporting

Transactions may involve network fees, launch fees, trading fees, funding payments, token taxes, price impact, slippage, conversion costs, bridge fees, withdrawal fees, issuer fees, or other charges. Fees may change and may be paid to smart contracts, liquidity providers, third parties, or protocol-controlled accounts.

You are solely responsible for determining, reporting, withholding, and paying all taxes, duties, and assessments arising from your activity. We do not provide tax forms, tax advice, or a complete transaction record for your reporting obligations.

11. No financial or professional advice

The Service and all related content are provided for informational and technological purposes. Nothing available through the Service is financial, investment, legal, tax, accounting, brokerage, or fiduciary advice, or a recommendation to buy, sell, hold, launch, or use any asset or strategy.

You make every decision independently and at your own risk. You should obtain advice from qualified professionals familiar with your circumstances before engaging in digital-asset, leveraged, or tokenized-asset activity.

12. Prohibited use

You may not use the Service to:

violate any law, regulation, court order, sanction, or third-party right;
commit fraud, manipulate a market, wash trade, spoof, mislead users, or distribute materially false information;
launder money, finance unlawful activity, evade restrictions, or conceal the source or ownership of funds;
introduce malware, exploit vulnerabilities, disrupt systems, or gain unauthorized access;
impersonate another person, misuse trademarks, or launch an asset using content you do not have the right to use; or
use automated systems in a way that overloads, damages, or interferes with the Service or other users.

We may restrict interface access, remove content, or take other reasonable measures when we believe activity violates these Terms or creates legal, security, or operational risk. Such action may not be able to stop direct interaction with independently operating smart contracts.

13. Risk disclosures

Digital assets, smart contracts, perpetuals, and tokenized assets involve substantial risk. You may lose some or all of the assets you use. Material risks include:

Market risk. Prices can move rapidly and without warning. Digital assets may become worthless.
Leverage and liquidation risk. Leverage magnifies losses, and positions may be liquidated before recovery is possible.
Liquidity and execution risk. Thin markets, slippage, spreads, failed transactions, latency, front-running, and unavailable routes can produce unexpected results.
Smart-contract risk. Code may contain bugs, vulnerabilities, incorrect assumptions, or integration failures. An audit, test, or simulation cannot guarantee safety.
Administrative and upgrade risk. Authorized roles may be able to pause components, change configuration, replace implementations, update operators, or otherwise affect protocol behavior and funds.
Keeper and credential risk. Offchain operators, API credentials, relayers, or automation may be unavailable, compromised, delayed, or act incorrectly.
Custody and issuer risk. Third-party issuers, custodians, venues, or collateral providers may fail, freeze assets, reject redemptions, become insolvent, or change terms.
Oracle and data risk. Prices, account data, indexes, and website information may be delayed, incomplete, manipulated, or wrong.
Network and bridge risk. Blockchains may reorganize, halt, fork, congest, or change fees. Bridges and cross-chain messages may fail or be exploited.
Stablecoin and settlement risk. A settlement asset may depeg, lose liquidity, be frozen, or become non-redeemable.
Tokenized-asset risk. A token may not be fully backed, redeemable, transferable, or legally recognized as an interest in its reference asset.
Dividend and distribution risk. Expected distributions may be reduced, delayed, converted, taxed, made ineligible, or not paid.
Regulatory risk. Laws and enforcement positions may change and can restrict access, transfers, trading, issuance, custody, or redemption.
Cybersecurity risk. Wallets, devices, interfaces, domains, dependencies, or accounts may be compromised or impersonated.

This list is not exhaustive. You should use only assets you can afford to lose and independently assess each transaction, token, market, strategy, and third-party dependency.

14. Intellectual property

The Service, branding, interface, original content, and related materials are protected by applicable intellectual-property laws. Subject to these Terms, you receive a limited, revocable, non-exclusive, non-transferable right to use the interface for its intended purpose.

Open-source software and third-party materials remain subject to their applicable licenses. These Terms do not grant rights to use Perpetuals names, logos, or branding in a way that suggests endorsement or affiliation.

15. Availability, changes, and termination

We may modify, suspend, restrict, or discontinue any hosted interface, feature, market, integration, or content at any time. Updates may alter functionality, compatibility, fees, or risks. We do not guarantee uninterrupted access, support, maintenance, or preservation of data.

You may stop using the Service at any time. Obligations that by their nature should survive termination—including risk allocation, disclaimers, liability limits, indemnity, and intellectual-property terms—will continue to apply.

16. Disclaimers

To the maximum extent permitted by law, the Service is provided “as is” and “as available.” We disclaim all express, implied, and statutory warranties, including warranties of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, availability, security, and uninterrupted operation.

We do not warrant that the Service, smart contracts, transactions, strategies, data, tokenized assets, or third-party systems will be accurate, complete, profitable, secure, error-free, or available, or that defects or vulnerabilities will be corrected.

17. Limitation of liability and indemnity

To the maximum extent permitted by law, Perpetuals and its contributors, developers, service providers, and affiliates will not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, or for loss of assets, profits, revenue, data, goodwill, opportunities, or use, arising from or related to the Service.

This limitation applies to losses caused by transactions, market movement, liquidation, smart contracts, security incidents, third-party services, token issuers, custodians, networks, bridges, wallets, data, regulation, unavailable access, or unauthorized use, regardless of the theory of liability and even if the possibility of loss was known.

Where liability cannot be excluded, aggregate liability will not exceed the greater of USD 100 or the fees you directly paid to use the hosted Service during the twelve months before the event giving rise to the claim.

You agree to indemnify and hold harmless Perpetuals and its contributors, developers, service providers, and affiliates from claims, losses, liabilities, and expenses arising from your use of the Service, violation of these Terms or law, infringement of another person’s rights, or content and assets you create or launch.

18. General terms

These Terms constitute the entire agreement regarding the Service and replace prior statements about their subject matter. If any provision is unenforceable, it will be limited to the minimum extent necessary and the remaining provisions will continue in effect. Failure to enforce a provision is not a waiver.

You may not assign your rights or obligations under these Terms without consent. We may assign these Terms in connection with a reorganization, transfer of the Service, or operation by another party.

Any dispute is subject to the mandatory laws and courts that have jurisdiction over the relevant parties and conduct. Nothing in these Terms excludes rights that cannot lawfully be excluded.

We may update these Terms by publishing a revised version and changing the effective date. Continued use after an update means you accept the revised Terms. Questions may be submitted through the official communication channels identified on the Perpetuals website.