Risk disclosure

Read this before you trade. You can lose everything you put in.

• Most tokens fail. Prices can fall to near zero quickly. Early buyers may profit at the expense of later buyers.
• Creators can sell. A creator or insider may buy a large share cheaply at launch and sell into your purchase. The token page shows what the creator's own wallet holds, but they may use other wallets.
• Prices move with every trade. Each token trades in a Uniswap pool: every purchase raises the price and every sale lowers it, and large trades move it a lot. A 1% protocol fee applies to every trade (plus a pool fee of 0.3%, 0.5% or 1% on tokens whose creator chose one), so buying and selling straight away loses about 2% or more.
• Launch tax. For the first 30 seconds after a token launches, buys pay a fee that falls from 99% to 1%. Check the countdown on the token page before buying: waiting is cheaper. The tax is burned, and sells are never taxed. The creator's own first buy, made in the launch transaction, is not taxed.
• Custom trading code. Each token's pool runs a small piece of our own code (a "hook") on every trade, which sets the launch tax and keeps the liquidity locked. It has no owner and cannot be changed, but like any code it may contain bugs, and a bug there could affect trading in the pools that use it.
• Standing approvals. Our tokens start with an unlimited approval for Uniswap's Permit2 contract so that selling takes one signature. Permit2 moves tokens only with your own signature, but you should still read every message your wallet asks you to sign, and you can switch the approval off for your tokens at any time.
• Burn pledges. The platform burns its share of the fees that sellers pay in tokens, and a creator may pledge to burn a share of theirs. Burning reduces the supply a little, covers only the fees paid in tokens, and does not protect the price of any token.
• Copycats and impersonation. Anyone can use any name or image. Always verify the contract address. Links on a token page are supplied by its creator and may be malicious, especially if marked as recently changed.
• Smart-contract risk. The code may contain bugs that cause loss of funds, even after an audit. The contracts have been reviewed internally with automated tools and tests; they have not been independently audited.
• Irreversible transactions. Blockchain transactions cannot be undone. Check every wallet prompt before approving.
• Thin liquidity. Most tokens have little ETH in their pool, so you may not be able to sell at the price you see, or at all, without moving the price heavily. Anyone can also create other pools for the same token at different fee levels, which can split liquidity.
• Rankings are not recommendations. The trending list is computed from on-chain activity and is not an endorsement. It can be gamed.
• Regulation. Rules for crypto assets vary by country and may change; some tokens may be treated as regulated products where you live.
• Only risk what you can afford to lose.