Risk Disclosure

01 About this document

This Risk Disclosure is issued by the NoFee team (the “Operator”, “we”, “us”) for anyone who uses nofee.tax, a multichain trading terminal and token launchpad (the “Service”). You must read and acknowledge it before an account is created for you, and your acknowledgement is recorded as described in section 14. It forms part of your agreement with the Operator together with the Terms of Service and the Privacy Policy; where they overlap, the Terms of Service govern. This document explains, in ordinary language, what can go wrong.

No document can list every risk, and the risks described here can occur together and amplify one another. If you do not understand something here, do not use the Service until you do. You can write to team@nofee.tax, but we cannot tell you whether any trade, token or launch is a good idea.

02 Digital assets can lose all their value

Prices of digital assets move sharply and unpredictably. A token can lose most of its value within minutes, and it can go to zero. There is no floor, no market maker obliged to buy from you, and no compensation scheme. Past price movements tell you nothing reliable about future ones.

Seeing a price does not mean you can sell at that price, or at all. Liquidity can disappear at any moment, and a “market cap” figure is not the amount that can actually be sold.

Digital assets are not money, not deposits and not backed by the Operator. Nothing in a NoFee wallet is insured. Only risk what you can afford to lose entirely.

03 Meme and launchpad tokens are extremely speculative

Most tokens visible on NoFee are meme or launchpad tokens, including tokens created through NoFee itself. They typically have no product, revenue or underlying asset; their value depends entirely on attention, which can vanish as fast as it arrives. The great majority lose most or all of their value, often within hours or days of launch.

• Thin liquidity. Even a small trade can move the price substantially, and you may be unable to exit without accepting a much lower price.
• Concentrated holdings. A few wallets, sometimes the creator's, may hold a large share of the supply and can sell at any time. Creators can also abandon a token at any moment with no obligation to anyone.
• Malicious code. Tokens created outside NoFee's own EVM factory contracts, including tokens launched on Pump.fun or other venues through NoFee, may carry hidden transfer taxes, blocklists, unlimited minting, freeze authorities or upgradeable logic that can take or trap your funds.
• Bonding curves and migrations. A token may trade on a curve before migrating to a pool; migration can change how and whether it trades, and a token that is visible on NoFee may have no supported trading route at all.
• Impersonation. Anyone can copy a known token's name, ticker or logo. Only the full contract or mint address on the correct network identifies a token.

Tokens launched through NoFee's own EVM factory contracts are created from NoFee's standard token template and have their initial liquidity position locked permanently. That is designed to stop the creator withdrawing that position (the creator can still collect the pool's accrued trading fees); it does not stop the price falling to zero, other holders selling, or the contracts themselves failing (section 4).

04 Smart contracts, bridges, data feeds and chains

4.1 Smart contracts and programs

Every trade and launch is executed by code on a public blockchain: NoFee's own router, factory and locker contracts and its Solana program, plus the third-party exchanges, launch venues and token contracts they interact with. Any of this code, including code written by the Operator, may contain bugs or be exploited; reviewed code can still fail, and no audit or review is a guarantee. An exploit can cause the total loss of funds in or passing through a contract, with no way to recover them.

4.2 Bridges, relays and data feeds

Cross-chain funding and trades route through third-party bridge and relay providers that the Operator does not control and cannot reverse, speed up or make whole. Transfers can complete partially, leaving funds on an unexpected network or in an intermediate state, and providers can pause, change terms, become insolvent or be exploited; their own terms apply to your use of them. Prices and statistics come from on-chain indexing and third-party providers and are indicative only; a failed or manipulated source can show a price that is stale, wrong or missing. Only an executable quote, with its minimum received and expiry, states the terms of a real trade.

4.3 Network risks

The supported chains (currently Ethereum, Base, Arbitrum, BSC, Robinhood Chain, Polygon, Avalanche, Optimism, Unichain, Celo, MegaETH and Solana, with Monad available for viewing only) are run by third parties; the list can change at any time. They can become congested, raise fees sharply, halt, reorganise recent blocks or fork. A transaction can fail and still cost gas, or stay stuck and then execute at a very different price. A timed-out request does not mean nothing happened; repeating an action before checking its status can execute it twice.

Pending transactions are public, so automated bots may trade ahead of or around yours (MEV or “sandwich” attacks) and you receive less than expected. Your slippage tolerance and minimum-received figure are your main protections.

4.4 The Service itself

The Service is new and under active development. It can be unavailable, slow or degraded because of maintenance, outages, attacks, provider failures or our own software errors, and it may display incorrect balances, statuses or figures. We may suspend, limit, change or withdraw any feature, route, network, venue or account at any time, including to comply with law, respond to a security incident or protect the Service, and we are not obliged to give notice. A fast interface response is not a confirmed transaction.

05 Blockchain transactions are irreversible

Once a transaction is confirmed it cannot be undone by you, the Operator or anyone else. There are no chargebacks or reversals. Funds sent to a wrong address, to the right address on the wrong network, or to a contract that cannot handle them are lost permanently. The same ticker (for example ETH) exists on several networks; a balance on one is not available on another.

Before you sign, check the full address, network, asset, amount, recipient, minimum received and any permissions you are granting. EVM token approvals can let a contract move your tokens later; revoke approvals you no longer need. The Operator cannot reverse a submitted transaction and cannot recover assets sent to a wrong address, to the wrong network or to a contract that cannot handle them.

06 How your NoFee wallet works

NoFee accounts are passwordless. You enter an email address and we send a six-digit login code that expires after ten minutes. Codes are delivered by email; delivery can be delayed or blocked by your email provider or spam filter, and we cannot guarantee that a code arrives in time. On your first successful login we create two wallets for you: an EVM wallet, used with the same address on all supported EVM chains, and a Solana wallet.

The private keys are generated and held by the Operator, stored encrypted at rest (AES-256-GCM) and returned to your browser for the duration of your session so that transactions can be signed. You can export a private key at any time using Export key and move your funds to any wallet you control.

Exporting a key gives you a copy; it does not remove ours. The wallet remains custodial and can still be used by anyone who logs in to your account. To leave custody entirely, move your funds to a wallet whose key the Operator has never held. You can ask us to delete your account; we delete wallet keys only after you have exported them or emptied the wallet, so that funds are not lost. See the Privacy Policy.

You may instead connect an existing external wallet. The Operator never receives its private key and cannot sign on your behalf; you are entirely responsible for that wallet's software, seed phrase and security, and for reviewing every transaction or token allowance it asks you to approve. The Operator cannot recover funds lost through an external wallet.

The NoFee wallet is a custodial arrangement: someone other than you holds the key material that controls your funds. It is not a bank account, it is not insured, and it is not provided under any custody, banking, payment or investment licence.

07 Custody risks and what to do about them

7.1 Your email is the single factor

There is no password, hardware key or second factor on a NoFee account. Whoever controls your email inbox can log in and control your wallet. Your funds are only as secure as your email account and the devices you log in from. Common ways attackers get in:

• Phishing. Fake login pages, alerts or “support staff” that trick you into revealing a login code or private key. We will never ask you for either.
• Weak email security. Reused or weak email passwords, and email accounts without two-factor authentication.
• SIM swap. Hijacking your phone number to reset your email password.
• Compromised devices. Malware, malicious browser extensions, or shared and unlocked computers that can read the session key in your browser or act while you are logged in.

7.2 Losing your email means losing access

If you lose access to your email address for any reason, you lose access to your NoFee account. Because we do not verify identities, we generally cannot restore it, and we do not promise to. If you have not exported your private key, the funds in that wallet may be lost permanently.

7.3 Operator risk

Because the Operator holds your keys, you are also exposed to the Operator itself: a breach of our systems, insider misuse, a failure of our encryption or key management, a court order or other legal requirement compelling us to freeze, restrict or hand over assets or data, an outage, or the Operator ceasing operations. Encryption at rest reduces some of these risks but does not eliminate them, and recovery of assets if the Operator became insolvent or ceased operating cannot be guaranteed.

7.4 What we strongly recommend

• Export your private key soon after your first login and store it offline, never in email, chat or cloud notes.
• Treat the NoFee wallet as a hot wallet for active trading and keep anything else in a self-custody wallet, preferably a hardware wallet.
• Secure your email with a unique password and two-factor authentication or passkeys, and avoid phone-number-based recovery.
• Only log in at nofee.tax, bookmark it rather than following links from messages, avoid shared or untrusted devices, and log out when you finish.
• If you suspect compromise, move your funds to a new wallet immediately; changing nothing else will not stop an attacker who already has access.

08 Trading costs, slippage and Lucky Drop

NoFee charges a 0% platform fee on trades. Zero platform fee does not mean zero cost; the following still apply and, apart from Lucky Drop, are outside the Operator's control:

Lucky Drop

On supported NoFee routes, 0.25% (25 basis points) of the trade's native-currency value is set aside as a Lucky Drop allocation. It is funded from your trade and reduces your purchase budget or net sale proceeds. It is pooled and distributed to traders by mechanisms that run on-chain and can be inspected on the relevant network. Depending on the network and route it may buy tokens from an eligible NoFee launch that are delivered to you, be held for fulfilment in a later step, or be returned to you under the route's refund rules; a refund may itself require a transaction before your balance changes.

• Selection is random, using on-chain inputs. It is not a proven unbiased lottery, and no outcome is promised to anyone.
• Rewards are not guaranteed. You may receive tokens with little or no value, nothing, or a refund. Lucky Drop is not an investment return, is not offered as a licensed lottery, prize draw or gambling product, and is not a reason to trade; receiving a token through it is not an endorsement of that token.
• Eligibility differs by network, route and token; some multi-step routes assess the allocation more than once. The breakdown shown before you sign is authoritative, and the rate, rules and eligibility can change or be suspended at any time.

Review the minimum received, the Lucky Drop allocation and all other costs before authorising a trade. Quotes expire.

09 Launching a token

If you create a token through NoFee, you are its creator and issuer. You are responsible for its name, symbol, description, images and links, for not infringing anyone's rights, for statements you make about it, and for complying with the laws that apply to you, including securities, consumer-protection and anti-fraud laws. If in doubt, take legal advice first. The Operator may hide, remove or refuse to display any token, image, metadata or listing on the Service at its discretion; this does not affect the token on-chain.

On supported EVM chains, NoFee's factory contracts create the token and its liquidity pool in one transaction and lock the liquidity position permanently, so that nobody, including the creator and the Operator, is able to withdraw it (the creator can still collect the pool's accrued trading fees). For eligible launches the Operator pays the network gas and you sign an intent message instead of paying for a transaction; gas sponsorship is discretionary and may be limited, paused or withdrawn at any time, and the launch quote states what applies. Paying the gas, providing the contracts or listing the token does not make the Operator the issuer, promoter, partner or sponsor of your token. The Operator does not review, approve or endorse tokens created through the Service.

On Solana, launches are made on Pump.fun, a third-party venue with its own contracts, rules, fees and risks that the Operator does not control. An optional first buy is a separate trade that can fail even when the launch succeeds.

• A token, once created, cannot be deleted or recalled, and creating one does not guarantee buyers, liquidity, a price, discovery or Lucky Drop eligibility.
• Optional vanity addresses, where offered, are a branding convenience, not a security feature, and can be imitated. For a Solana vanity launch the newly generated mint keypair is sent to NoFee's launch service so the mint can be created at that address; it is separate from your wallet key.
• Launch costs depend on the network and venue; read the launch quote rather than assuming a launch is free. If a launch is pending or timed out, check its status before starting another to avoid duplicate tokens or spending.

10 Third-party launchpads, listings and automated labels

NoFee indexes and displays tokens launched on third-party venues such as Pump.fun, Pons, Flap, DontBlink and others for information only. The Operator does not vet, audit or endorse them, is not affiliated with their creators or venues unless expressly stated, and does not control those venues. Appearing on NoFee does not mean a token is tradeable through NoFee, that it is safe, or that anyone has looked at it. Links to third-party websites, explorers and venues are provided for convenience; the Operator is not responsible for their content, availability or conduct.

Labels such as “Verified”, “LP locked” and “Honeypot: clear” are produced by automated checks. They are not endorsements and can be wrong: a check can rest on incomplete data, go stale the moment a token's code, authorities or liquidity change, or be deliberately gamed. A token that passes a honeypot check today can be made unsellable tomorrow, and a liquidity lock can be partial, expire, or cover a different pool from the one you trade in. Treat every label as one input to your own research, never as a conclusion. A NoFee Launches listing likewise means only that the token was created through a NoFee launch flow and indexed; it is not an audit or a safety rating.

11 Market data, tools and no advice

Charts, prices, market caps, holder counts and transaction feeds are assembled from indexed on-chain data and third-party providers and may be delayed, incomplete or wrong. Missing data means the information is unavailable, not that the value is zero or that a token has no activity or no risk. Historical USD figures are estimates, and a chart may cover only part of a token's history or only one of its pools.

Nothing on the Service is investment, financial, legal, tax or trading advice or a recommendation to buy, sell, hold or launch any asset. Rankings, filters and directories are organisational features, not recommendations. The Operator knows nothing about your circumstances, has no duty to monitor your activity and has no duty to act in your interest. Tools marked “Coming soon” are not functional. You alone decide what to do; do your own research before every action.

12 Legal, regulatory and tax risks

The legal treatment of digital assets, trading platforms, token launches and reward mechanisms is unsettled and changes often. New laws, enforcement actions or court decisions could restrict or prohibit some or all of the Service in your country, require identity verification, change how wallets are provided, or force us to suspend features or withdraw from a jurisdiction, with little or no notice. This may affect your ability to access or move funds: one more reason to keep your exported key and self-custody larger balances.

The Service does not currently perform KYC; this may change, and we may require verification before allowing continued access. The Service is not offered to persons in jurisdictions where its use would be unlawful, to sanctioned persons, or to anyone under 18. By using the Service you confirm that none of these apply to you. It is your responsibility to determine whether use is lawful where you are, and we may restrict or terminate access where we believe it is not.

You are solely responsible for taxes. Trades, cross-chain transfers, tokens received through Lucky Drop, launch proceeds and creator fees may all be taxable events. The Operator does not calculate, withhold, report or advise on taxes; keep your own records. We may also be legally required to disclose information about you, to restrict your account, or to freeze or hand over assets, in response to lawful requests from authorities, as described in the Privacy Policy.

13 What NoFee is not

The Operator is not a bank, broker, exchange, investment adviser, fiduciary, or custodian licensed under any regulatory regime, and does not provide the Service under any such licence. Digital assets in NoFee wallets are not deposits and are not insured by any government scheme or private insurer. The Operator does not act as your counterparty and does not set the prices at which trades execute; trades run against liquidity pools and venues governed by their own smart contracts. Nothing on the Service is an offer or solicitation to buy or sell any asset in any jurisdiction where that would be unlawful.

The Operator never guarantees prices, execution, liquidity, listings, Lucky Drop rewards, uptime, the availability of any network or feature, or the behaviour of any token, smart contract, venue, bridge or third-party service. The Service is provided “as is” and “as available”. The limits on the Operator's liability are set out in the Terms of Service.

14 Changes, your consent and governing law

The Operator may change this Risk Disclosure, the Terms of Service and the Privacy Policy from time to time. The version string at the top of each document is its date. Continued use of the Service after a change constitutes acceptance of the changed document; if you do not accept a change, stop using the Service and export or withdraw your funds.

Your acknowledgement of this document is recorded at login together with the document version, the time and the IP address used, and is handled in accordance with the Privacy Policy.

This Risk Disclosure forms part of the Terms of Service. These Terms are governed by the laws of the jurisdiction in which the Operator is established, without regard to conflict-of-law principles, and any dispute shall be resolved in the competent courts of that jurisdiction unless mandatory consumer law provides otherwise.

15 Before you continue

By creating an account you confirm each of the following:

If you cannot confirm all of these, do not create an account.