Risk Disclosure

High-risk product

Perpetual derivatives and digital asset markets are high-risk products. They may be unsuitable for many users, especially users who do not understand leverage, liquidation, margin, wallet signing, blockchain settlement, smart-contract risk, or oracle-based pricing.

You should not use funds you cannot afford to lose. You are solely responsible for deciding whether any trade is appropriate for your financial situation, objectives, experience, and legal obligations.

Leverage, margin, and liquidation risk

• Leverage magnifies both gains and losses. A small adverse price movement can create a large loss relative to your posted collateral.
• If margin becomes insufficient, positions may be partially or fully liquidated by Hyperliquid liquidation mechanisms.
• A displayed liquidation estimate may become inaccurate because of funding payments, changing unrealized PnL, liquidity, other positions, or protocol calculations.
• You can lose the full amount of collateral placed at risk. In some derivative structures or jurisdictions, additional losses or liabilities may be possible.

Funding, parameter, and open-interest risk

• Funding payments can be positive or negative and can materially affect PnL over time.
• Protocol parameters, margin requirements, open-interest caps, asset status, leverage limits, fair value bands, and fee schedules may change without advance notice.
• New orders may be rejected or disabled when caps are reached, liquidity is thin, the market is paused, or Korea Perp risk controls are active.

Market, liquidity, and execution risk

• Markets can move rapidly, gap, halt, become illiquid, reach open-interest caps, or trade with wide spreads.
• Immediate-or-cancel orders may fill partially, fail to fill, or execute at a worse effective price than expected within the configured slippage limit.
• Closing a position may be difficult or impossible at a desired price during volatility, outages, liquidity shortages, or protocol restrictions.
• Past prices, chart candles, or simulated previews do not predict future performance.

Equity-linked market risk

• Referenced Korean equities can be affected by corporate actions, earnings, dividends, holidays, trading halts, circuit breakers, exchange outages, geopolitical events, and local regulatory actions.
• Derivative prices may move while the Korean cash equity market is closed and may gap when direct equity references resume.
• You do not receive the legal or economic rights of a shareholder, and corporate events may affect the derivative differently from owning the underlying shares.

Oracle, index, and data risk

• Hyperliquid relies on validator-maintained oracles and market data. If a price feed is delayed, unavailable, manipulated, or incorrect, mark prices, liquidation behavior, and displayed values may be affected.
• The derivative market can diverge from the referenced Korean equity cash market. You may not be able to trade at Korean exchange prices.
• Charts and portfolio displays are convenience views and may not always match protocol state at the exact moment an order is accepted, rejected, filled, or liquidated.

Protocol, smart contract, bridge, and network risk

• Hyperliquid, its L1, validators, bridges, APIs, and related smart contracts can experience bugs, downtime, consensus issues, congestion, exploits, parameter changes, or other failures.
• Arbitrum bridge or token-transfer errors can cause delay or loss. Sending the wrong token, wrong chain asset, or unsupported asset may be irreversible.
• USDC and other stablecoins carry issuer, redemption, depeg, blacklist, chain, contract, and regulatory risks.

No insurance or recovery guarantee

• Digital assets, USDC balances, trading collateral, unrealized profits, and protocol claims are not guaranteed by Korea Perp.
• Losses from market movement, liquidation, insolvency, hacks, exploits, bridge failures, stablecoin failure, wrong-chain transfers, wrong-token transfers, wallet compromise, or user error may be irreversible.
• Korea Perp does not provide deposit insurance, securities investor protection, derivatives clearing protection, or a compensation fund.

Wallet and agent approval risk

• You are responsible for securing your wallet, private keys, seed phrases, browser profile, device, extensions, and session.
• Korea Perp uses a browser-local session agent approval flow for trading convenience. An approved agent can sign supported trading actions until revoked, expired, or replaced according to the protocol and application controls.
• If your device, browser storage, wallet, or approved agent is compromised, unauthorized actions may occur. Revoke unneeded approvals and disconnect wallets when appropriate.

No monitoring, alert, or rescue duty

• Korea Perp does not undertake to monitor your account, warn you before liquidation, maintain stop-loss orders, maintain take-profit orders, or close positions for you.
• V1 does not guarantee built-in stop-loss, take-profit, trailing-stop, margin-call, or forced-risk-reduction tools.
• If Korea Perp is unavailable, you remain responsible for managing open positions through Hyperliquid or another compatible interface.

Regulatory, tax, and availability risk

• Laws and platform rules can change. Access can be restricted, suspended, or unavailable without advance notice.
• You are responsible for determining whether your use is legal in every relevant jurisdiction and for handling any tax reporting, withholding, or payment obligations.
• The service is not available in restricted jurisdictions and may fail closed when jurisdiction cannot be verified.