Risk Disclaimer
Last updated: August 22, 2026
This notice summarizes material risks of using BTR and related interfaces. It is not legal, financial, or tax advice. Full terms: Terms of Service. Technical detail: Oracles (including LVR and OEV).
By using the protocol or interface, you accept these risks and the possibility of partial or total loss.
1. Interface and protocol
The website and apps are a convenience interface. BTR smart contracts are permissionless infrastructure on public blockchains. We do not custody your assets or private keys, are not your broker or fiduciary, and cannot reverse, refund, or recover on-chain transactions.
You may interact with contracts directly. Interface downtime does not pause the contracts. Always verify domains, chain IDs, and contract addresses from official sources.
Anyone can deploy a pool through the permissionless factory. Only pools the factory flags as official are curated by us; do not assume a pool you encounter is operated, vetted, or backed by us.
2. Smart contracts and software
Contracts and keepers are experimental software. Permissionless on-chain code and third-party audits (none published to date) do not eliminate bugs, economic exploits, or unexpected behavior. Treat the stack as experimental until third-party audits for your deployment are published (Audit Reports).
Upgrades and parameter changes (where applicable) may introduce new risk even when timelocked.
3. Market and execution
Digital assets are volatile. Swaps and liquidity provision can lose principal. Quotes can move between simulation and confirmation. Gas is non-refundable on failed transactions.
MEV: transactions are visible in public mempools. Searchers may frontrun, sandwich, or backrun your trades. There is no native MEV protection.
Slippage and depth: large trades face price impact. Set your own tolerances.
4. Liquidity provider risks
BTR pools use coverage ratios (reserves / liabilities) per asset. When coverage falls below target:
- Withdrawals may be haircut (pro-rata shortfall sharing).
- At extreme depletion, claims on that asset can go to zero. There is no insurance fund.
Fees are dynamic (volatility, confidence, staleness, inventory). Concentration and liquidity profiles affect both execution quality and how much value informed flow can extract near mid.
Single-sided deposits remove classic constant-product IL, but coverage moves and adverse selection can still reduce LP value (including LVR).
A short deposit-to-withdraw cooldown exists to limit JIT liquidity attacks.
5. Oracle and keeper risks
BTR pools quote off a keeper-pushed external mark, not pool reserves or an internal TWAP.
| Risk | What it means |
|---|---|
| Signer trust | Marks require a k-of-n quorum of independently custodied signers. A compromised quorum can push a bad mark, bounded by deviation bands, confidence halts, and depeg checks. Signers are revocable by the owner or a guardian; revoking below threshold halts pushing rather than loosening it. |
| Push latency (LVR) | Between a true price move and an on-chain push, informed traders can trade against a frozen mark. |
| OEV | On public-mempool chains, searchers may order swaps around the push itself (OEV). |
| Keeper outage | Missed pushes widen spreads after grace, then halt quoting past TTL. |
| Displayed metrics | Marks, σ, APRs, and charts can be delayed or wrong. They are not promises. |
Optional third-party reference feeds (if a pool opts in for depeg gating) add that feed’s failure modes.
6. Multi-chain deployments
If BTR deploys on additional chains in future, liquidity and prices may differ by chain. Cross-chain transfer of assets carries bridge risk, which is borne by whichever bridge you choose and is outside BTR’s control.
7. Operators
Parameter, listing, pause, and upgrade authority may sit with an admin Safe under timelocks. Centralization and operator-compromise risk remain. Keepers we or delegates run can fail, be delayed, or be compromised within their permissions.
8. Compliance and tax
You must follow the laws that apply to you, including sanctions and tax. We do not provide compliance advice. Geographic restrictions are in the Terms of Service.
9. No guarantees
Services are provided as is and as available. No warranty of uptime, price, yield, or fitness for purpose. Past or simulated performance does not predict future results.
10. Network appendix
Live: Arc Testnet
The only live deployment is the public Arc Testnet (chainId 5042002). Pool assets other than the network’s native testnet tokens are BTR-deployed mocks minted via the on-app faucet. Faucet tokens have no monetary value, may be reset or wiped, and exist only for evaluation.
Mainnet
There is no mainnet deployment today. If one launches, it will hold real value, losses will be permanent, and only funds you can afford to lose should be used. Verify contracts before approving or depositing.