Risk disclosures

What you are exposed to, stated mechanically.

The curve runs both ways

Price is a function of supply. Supply falls when people sell, and the price falls with it. A position loses its full value.

The displayed price is not what you receive

Selling walks back down the curve. Your real exit is exitValue, and for a large position it sits materially below claims × displayed price. Read the exit number, not the price.

The curve is the only exit

Claims are non-transferable. No secondary market, no listing, no bridge, no OTC desk. The curve is the door, and it is open whenever the market is not fully paused.

Round trips cost 2 %

1 % on the way in, 1 % on the way out. A round trip at an unchanged price returns 98 %.

Concentration is real

Early holders hold large shares. The anti-whale cap limits one wallet to 1,000 USD of position cost while a market's reserve sits under 20,000 USD. It is a friction: splitting across wallets defeats it, and above 20,000 USD there is no cap, forever.

Nobody makes a market for you

There is no market maker, no backstop, no buyer of last resort beyond the curve's own reserve.

Nothing settles

No event, score, result or outcome settles anything or pays anyone. UNPRICED is not a bet, not a prediction market, not a wager.

A market creates no claim on the person

A market on a profile creates no relationship with, no obligation on, and no economic interest in that person. A verified talent receives a share of trade fees and nothing else.

Your wallet is the account

Your wallet signs everything. A lost wallet is a lost position, and claims do not transfer out of one. There is no reset.

Execution is block-ordered

Your quote moves between signing and execution. The slippage bound and the deadline are the controls, and the contract recomputes the final amount every time.

Operational controls exist

A pauser key stops buys, leaving selling open, or stops a market entirely. The admin replaces the fee preset for future markets, changes the treasury, pauser or referral registry, and records a verified talent. Neither role alters an existing market's grid, curve, supply or reserve.

What UNPRICED publishes

Prices and receipts. Not recommendations.