Risk disclaimer & terms of use

1. How MEMEPERPS works

• MEMEPERPS is the counterparty to every position ("the house"). There is no order book and no other trader on the other side.
• Positions are isolated-margin, settled in USDC, with leverage between 1x and 2x.
• Prices come from an off-chain oracle (Jupiter, DexScreener) using a median-filtered 60-second TWAP. The oracle can be wrong, delayed or unavailable.
• Opens and closes are filled at the mark price plus a price-impact charge that grows with position size relative to pool liquidity.
• A 0.1% fee is charged on opening and 0.1% on closing.
• Funding is exchanged hourly between the majority and minority side; the house pays or keeps any imbalance.
• Profit on a single position is capped at +400% of its size.

2. Liquidation

A position is liquidated when its equity (collateral plus unrealized PnL minus funding paid) falls below 10% of its notional size. On liquidation the entire remaining collateral goes to the house. Fast moves can liquidate you below the displayed liquidation price.

3. Market states, pauses and forced settlement

• Markets are listed and delisted automatically based on market cap, liquidity, oracle health and volatility.
• A market becomes close-only (no new positions) if market cap drops below $15,000, pool liquidity falls more than 50% in 10 minutes, the oracle is stale for more than 120 seconds, or the price moves more than 40% within a minute.
• Close-only markets are force-settled at the last valid mark price after 30 minutes, or immediately if liquidity drops below $2,000. The settlement price may differ substantially from the current DEX price.
• Operators can pause trading, deposits or withdrawals at any time to protect the system.
• New positions can be rejected when open-interest caps or house risk limits are reached.

4. Deposits & withdrawals

• Deposits are credited only after the Solana transaction is finalized and verified on-chain.
• Deposits are capped at $200 per wallet and $5000 in total.
• Withdrawals are queued; larger withdrawals require manual review and may take time.
• This is experimental software. Bugs, oracle failures, RPC outages or operator error can cause loss of funds.

5. Eligibility and your responsibilities

You are solely responsible for complying with the laws that apply to you. Do not use MEMEPERPS where leveraged derivatives trading is restricted for you, or if you are a resident of a sanctioned or prohibited jurisdiction. You must be of legal age. You are responsible for securing your wallet. The service is provided "as is", without warranties of any kind, and to the maximum extent permitted by law the operators are not liable for any losses.