Risk & Fee Disclosure

1. Leveraged perpetuals can take everything you deposit

Perpetual futures are leveraged instruments. Small price moves against a leveraged position cause large losses, and if your margin is exhausted your position is liquidated automatically by the protocol — no warning, no undo. Funding payments accrue continuously and can be a meaningful cost. Never trade with funds you cannot afford to lose entirely.

2. Non-custodial means no safety net

You control your keys; Exos cannot pause, reverse, refund, or recover anything. A mistaken address on a transfer is unrecoverable. A compromised device or seed phrase means compromised funds.

3. Protocol and infrastructure risk

Your positions live on Hyperliquid, an independent protocol Exos does not operate. Protocol bugs, oracle failures, chain halts, validator issues, or economic attacks can cause loss regardless of anything Exos does. The interface itself can also fail: downtime of this site never touches your funds, but it can delay your access to managing positions. The protocol remains reachable through other interfaces at all times.

4. The session key, plainly

Approving a trading session creates a key in your browser that signs orders without popping your wallet each time. Its powers are limited by the protocol: orders, cancels, and leverage changes only. It cannot withdraw, transfer, or send funds anywhere. It expires with your browser session and can be revoked in Settings.

5. Fees, complete list

Exos builder fee: 0.03% of order notional, approved by you in advance, revocable any time. Hyperliquid protocol fees: maker/taker fees per the protocol's published schedule, plus a $1 USDC withdrawal fee, set by the protocol and subject to its changes. Referral discounts reduce the Exos fee where applicable. There are no deposit fees and no fees on losses or liquidations beyond the protocol's own mechanics.

6. Points are not an investment

Points, tiers, and leaderboards are engagement recognition with no monetary value and no promise of future value. Treat any decision to trade as a trading decision, never as a way to acquire points.

7. Testnet period

Season 0 runs on Hyperliquid testnet: balances are valueless test funds, and system behaviour may differ from mainnet.