Disclaimer
1. Informational Purpose Only
This documentation and all related materials (including the CallPut(.app) website, application interface, GitBook pages, social posts, and community messages) are provided for informational purposes only. Nothing herein constitutes, or should be construed as, financial advice, investment advice, trading advice, legal advice, tax advice, or accounting advice.
You should not rely on this documentation as the basis for any investment or trading decision. You are solely responsible for evaluating the merits and risks of using the protocol and for obtaining independent professional advice where appropriate.
2. No Offer, Solicitation, or Recommendation
Nothing in this documentation constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase, sell, or hold any asset, instrument, derivative, or position. Any references to performance, leverage, pricing, yield, liquidity, spreads, or execution quality are illustrative and may not reflect future results or real-time market conditions.
3. Non-Custodial Protocol; No Brokerage Relationship
CallPut is designed as a non-custodial protocol. CallPut does not control or manage user assets. Users interact with smart contracts through their own wallets and remain solely responsible for the security of their private keys, seed phrases, and wallet access.
CallPut is not a broker, dealer, exchange operator, clearing house, intermediary, agent, fiduciary, or advisor. Use of CallPut does not create any fiduciary relationship, agency relationship, partnership, employment relationship, or joint venture between you and CallPut or any contributor, developer, or affiliated party.
4. User Responsibility and Assumption of Risk
By accessing or using CallPut, you acknowledge and agree that:
You are using the protocol at your own risk and discretion.
You are solely responsible for all trading decisions, strategies, and outcomes.
You may lose some or all funds used for trading or liquidity provision.
You understand the mechanics of options and the specific products offered (including spread strategies) before participating.
You are solely responsible for determining whether your use of CallPut is legal in your jurisdiction and for complying with all applicable laws, regulations, rules, and reporting obligations, including tax obligations.
5. Options and Leverage Risk Disclosure
Options are complex instruments and involve significant risk. Trading options may result in the loss of the entire premium paid and may involve rapid and substantial changes in position value.
While options positions may not involve liquidation mechanics in the same manner as leveraged perpetual futures, options can still produce substantial losses, including:
Total loss of premium paid
Adverse price movements
Volatility changes
Time decay (theta)
Execution costs and slippage
Limited ability to exit positions during stressed market conditions
No representation is made that any strategy will be profitable or suitable for any user.
6. Spread Strategy Disclosure
CallPut supports spread-based option structures (e.g., call spreads and put spreads). Spread strategies may reduce premium costs and cap certain payoffs, but they remain subject to market risk, volatility risk, pricing risk, and execution risk.
Capping payoffs does not eliminate risk. In particular, spreads may behave differently than vanilla options across varying volatility regimes, and users should understand the full payoff profile prior to trading.
7. Synthetic Underlying Asset Disclosure
Certain instruments on CallPut may reference synthetic underlying assets, including synthetic representations of U.S. equities. These instruments:
Do not represent ownership of, or any claim to, the underlying equities or securities
Are priced and settled based on external market data rather than physical delivery or custody of the underlying asset
May be affected by data latency, market dislocations, corporate actions, and other events that impact reference pricing
Users acknowledge that synthetic pricing introduces additional risks and uncertainties compared to trading instruments backed by direct ownership or delivery of the underlying assets.
8. Pricing, Indices, and Oracle Risk
Pricing and settlement on CallPut may rely on indices and data feeds derived from third-party sources. These data sources may include centralized exchanges, market data providers, oracle networks, or other infrastructure providers.
You acknowledge and accept the risks that:
Data sources may be inaccurate, delayed, incomplete, or manipulated
Index construction may deviate from any single venue price
Oracle updates may be disrupted or impacted by network congestion or outages
Abnormal market conditions may cause spreads to widen and execution prices to differ materially from theoretical values
CallPut does not guarantee the accuracy, completeness, timeliness, or integrity of any price feed, index, volatility input, or settlement reference price.
9. Liquidity, Slippage, and Execution Risk
Liquidity may vary by market conditions, volatility regimes, and pool utilization. You acknowledge that:
Price differences between execution prices and mark prices may widen significantly during stressed conditions or thin liquidity periods
Slippage may be material, especially for large trades or volatile markets
Execution may occur at prices that differ from expected theoretical values
Certain positions may be difficult or costly to close in extreme market scenarios
CallPut may adjust spreads and risk premiums dynamically to protect liquidity pools and maintain system stability.
10. Liquidity Provision Risk
Providing liquidity involves taking on financial risk and is not equivalent to earning a guaranteed yield. Liquidity providers may experience:
Losses due to adverse market movements and options exposure
Variability of returns based on market activity, volatility, and utilization
Periods of low revenue, negative P&L, or drawdowns
Inability to withdraw immediately depending on protocol mechanics (if applicable)
No representation is made that liquidity provision will be profitable or that any yield will be stable or predictable.
11. Smart Contract and Security Risk
Smart contracts may contain vulnerabilities, bugs, or design limitations. Despite security practices and potential audits, there is no guarantee that the protocol is free from exploits.
Risks include, but are not limited to:
Smart contract bugs or economic exploits
Front-running, MEV, and other adversarial trading behaviors
Key management and wallet security risks
Dependency risks from integrated contracts and third-party libraries
You acknowledge that losses may occur due to such risks and that blockchain transactions are generally irreversible.
12. Blockchain network and Network Infrastructure Risk
CallPut may operate on blockchain networks and is subject to risks related to blockchain infrastructure, including:
Sequencer downtime or degradation
Network congestion and transaction delays
Reorgs, finality assumptions, and bridge risks
Changes in network rules, fees, or availability
CallPut does not guarantee uninterrupted access, uptime, or transaction inclusion.
13. Protocol Changes and Availability
The protocol, interface, and documentation may change at any time. Features may be added, modified, disabled, or removed. Markets may be paused under exceptional circumstances, including oracle anomalies, security concerns, or extreme volatility, to protect users and protocol integrity.
CallPut does not guarantee continuous availability of any market, product, feature, or interface.
14. Regulatory and Jurisdictional Notice
Digital asset derivatives and synthetic instruments may be regulated in certain jurisdictions. Accessing or using CallPut may be restricted or prohibited depending on your location, citizenship, residency, or other factors.
You are solely responsible for ensuring compliance with applicable laws and regulations. CallPut makes no representation that the protocol is appropriate or lawful for use in any jurisdiction.
15. Third-Party Services and Links
CallPut may reference or integrate third-party services (including wallets, bridges, data providers, oracle networks, and infrastructure providers). CallPut does not control these third parties and is not responsible for their performance, availability, security, or actions.
Use of third-party services is at your own risk and subject to the terms and policies of those providers.
16. No Warranties
To the maximum extent permitted by law, CallPut and all related materials are provided on an “AS IS” and “AS AVAILABLE” basis, without warranties of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose, non-infringement, or availability.
CallPut makes no warranty regarding profitability, pricing accuracy, liquidity availability, execution quality, or protocol uptime.
17. Limitation of Liability
To the maximum extent permitted by law, in no event shall CallPut, its developers, contributors, affiliates, or service providers be liable for any direct, indirect, incidental, consequential, special, exemplary, or punitive damages, including loss of funds, profits, data, goodwill, or business opportunities, arising out of or related to your access to or use of the protocol or documentation.
Some jurisdictions do not allow certain limitations of liability, so these limitations may not apply to you in full.
18. Tax Disclosure
You are solely responsible for determining and fulfilling any tax obligations arising from your use of the protocol, including trading, settlement, liquidity provision, and receipt of any fees or rewards. CallPut does not provide tax advice.
19. Acceptance of Terms
By accessing or using CallPut, you acknowledge that you have read, understood, and agreed to this Disclaimer and that you accept the risks described herein.
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