Legal

Risk disclosure

Effective [Effective date]

Outcome markets are real markets, with real risk. This page lays out what can go wrong, plainly, so you can decide with your eyes open. Please read it before you take a position.

You can lose everything you commit

A take that resolves against you returns nothing. The amount you commit to a position is at risk in full, and you should expect that losing all of it is a real possibility, not a remote one.

Only commit money you’re genuinely comfortable losing. Don’t use funds you need for anything else, and don’t borrow to take a position.

Prices move, and markets can be thin

Prices on outcome markets can move quickly, sometimes sharply, as information and sentiment change. A position can be worth much less in a short span of time.

• Volatility.Odds can swing fast, and there’s no guarantee they’ll move back.
• Liquidity. A market can be thin, which can widen the gap between prices and make it harder to enter or exit near the price you expected.

How a market resolves, and resolution risk

Each outcome market settles on-chain on Hyperliquid against a stated source. Slate doesn’t decide outcomes. Before you take a side, make sure you understand the exact question and the source that resolves it.

Resolution carries its own risks. A source can be delayed, ambiguous, or wrong, an event can be cancelled or unfold in a way the question didn’t anticipate, and the final resolution may not match what you expected.

Protocol and smart-contract risk

Trading and settlement happen on Hyperliquid, on-chain. That means your position depends on software and infrastructure outside Slate’s control.

• Smart contracts can contain bugs or be exploited, despite careful design and review.
• The protocol or the underlying networks can experience downtime, congestion, or failed transactions.
• On-chain transactions are generally irreversible once confirmed.

Regulatory and legal risk

The rules around outcome markets differ from place to place, and they can change. A market, a feature, or access from your region could become restricted, and the legal treatment of what you do can shift over time.

It’s your responsibility to know and follow the rules where you are. Slate isn’t available in certain places, and you must not use it from a region where it’s restricted.

You control your keys, and your funds

Slate is non-custodial. Your funds sit in a wallet only you control, and Slate can’t move, freeze, or spend them. That control comes with responsibility.

• If you lose access to your keys, your login, or your recovery method, no one, including us, can recover your funds.
• Keep your keys and any exported private key safe, and beware of phishing and scams.

Not financial, investment, legal, or tax advice

Nothing in Slate is financial, investment, legal, or tax advice, and nothing is a recommendation to take any position. Prices and odds are information, not guidance. Every decision you make is your own, and you may want to consult a qualified professional.

Taxes are your responsibility

Any tax that arises from your activity is yours to work out, report, and pay, according to the rules where you live. Slate doesn’t provide tax advice and doesn’t file anything on your behalf. Keep your own records.