Risk Disclosure

Backer is a prototype today. No transaction is broadcast, and the tokens launched here, their prices and the traders shown are sample data. The chain figures from DeFiLlama and the real markets from GeckoTerminal are live third-party data, shown for context. The risks below describe Backer as it will run at launch.

Any token can lose all of its value at any time, including minutes after launch. Only use money you can afford to lose completely.

Prices can move very fast. When a pool holds little liquidity, a sale can return far less than the price shown.

Tokens and dollar tokens held in a wallet are not bank deposits and are not insured by any government agency.

Users create the tokens on Backer. Backer does not check who creators are, whether what they say is true, or whether a token has any value.

Creators and early buyers can hold large amounts and sell at any time, and creators can abandon a token. Statements by creators and other users can be false.

Reserved tickers block some imitations of major assets, but copycat tokens can still use names, tickers or images that look like something else. Check the contract address before you buy.

Checks and labels on a token page are for information only. They do not endorse a token, and they can fail to catch problems.

The curve price rises as tokens are bought and falls as they are sold back. Later backers usually pay more per token than earlier ones, and an early backer who sells is paid out of what later backers put in.

Before graduation you can sell to the curve only the tokens you got on it, from the wallet you used. A sale pays the full fee, as backing does, and can fill at a worse price than quoted, up to the slippage you allow. Once the curve fills, selling stops until the token opens in its pool. A sale back to the curve does not count toward the token’s checkpoint volume or trader rewards.

If a curve has not filled 30 days after launch, backing and selling stop and the money left in the curve is shared equally among the tokens still out, except the creator buy, which gets back no more than it cost on the curve. Your refund is your tokens’ share. It can be less than you paid, most of all if you backed late or if early backers sold before the curve closed, and it can be more if you backed early. In LP mode, the half held for the pool comes back in full. You lose the fees and the network gas. The same refund applies on every network if a curve fills but cannot graduate, for example while PancakeSwap has paused trading on BSC or Raydium is not accepting new pools on Solana: 7 days after the fill anyone can mark its graduation stalled, it never graduates, and until then your money stays in the curve.

At graduation, a fee of 0.015 SOL or its equivalent and $600 held for the token’s DEXTools and DEX Screener listings are taken from the liquidity being added to the pool, so the pool opens thinner than the raise. Whatever the listings do not use is added back to the pool within about 30 days. A listing is bought, not promised to help: it does not make a token safer or more valuable. After that, trading in the pool sets the price.

Pools run on third-party exchanges: Raydium, Uniswap v4, PancakeSwap Infinity and Aerodrome. A problem with an exchange can cause losses that Backer cannot fix.

An LP-mode share stays in the pool at least until checkpoint 1 is judged, 30 days after graduation. If checkpoint 3 is missed, you cannot withdraw it while the creator decides, for up to 7 days, and then until someone marks the token community owned if the creator did not answer.

It is valued at the pool's price. Right after graduation it can be worth more than you put in, because the tokens in it were bought on the curve below the price the pool opens at; do not count on keeping that. Its value moves with the token's price. If the price falls, the share is worth less than you put in, and it can end up worth less than holding the tokens or the dollars would have been.

The checkpoints are $1,000,000 of cumulative volume by day 30, $5,000,000 by day 90 and $25,000,000 by day 180, and many tokens will miss them. A miss at checkpoint 1 or 2 halves the creator's share of the creator reward and pauses their vesting until volume reaches a later target. The part taken from the creator goes to the token's rewards, which does not make the token more likely to trade or hold its price, and a smaller share can leave the creator less reason to work on it. A miss at checkpoint 3 halves the share again and puts the decision with the creator, not with you. If the creator chooses reversion, the position unwinds and you can claim a pro-rata share of what comes out, usually less than you put in, since a token that misses has usually fallen in price. Nothing tops it up, and no one can waive the rule. If the creator keeps going, your share stays in the pool and you can withdraw it, at whatever it is worth by then.

If the creator does not answer within 7 days of a missed checkpoint 3, anyone can mark the token community owned. That sends the whole creator reward to the token's rewards from then on and burns the creator's retained supply that had not vested when vesting paused. It does not return anything to you, does not unwind the pool, and does not make the token more likely to trade. The creator may simply have stopped caring for it.

Each token page shows when the creator last posted on Backer and marks a creator with no post for 30 days as quiet. On a live token it can do so only if the creator linked the wallet the token was launched from to their profile; otherwise the page says the creator has not linked a profile, which says nothing either way about the creator. It reads posts on Backer only, says nothing about work done elsewhere, and has no effect on the token's contracts.

A reversion takes that liquidity out of the pool, which can make the token much harder to sell for everyone who still holds it.

A creator can keep up to 70% of the supply. Kept supply is held in a vesting contract and released on a schedule, but a released token can be sold like any other. When a large position unlocks it can be sold into the same pool you would sell into, and the price can fall a long way.

Every token page shows how much the creator kept, how much of it is transferable that day, and what it would be worth against the pool’s liquidity. Where that figure is larger than the pool, the position could not be sold at anything near the price shown. Read it before you buy, not after.

A schedule is a promise about timing only. It is not a promise that the creator will hold, that the token will trade, or that the price will be anything in particular when the supply unlocks. A creator who kept more than 10% without publishing a schedule fails that line of the token check, and nothing prevents that token from being listed.

The creator may also have backed the token at launch, up to 20% of supply. That position is held until the token graduates and cannot be sold on the curve. If the curve expires, it gets back no more than it cost. It is not vested, and unless the creator locked it for longer, it can be sold as soon as the pool opens.

A missed checkpoint pauses the creator's vesting, and a restore lets it catch up at once, so a large release can come the day volume reaches a later target. The launch purchase is not vested and is not paused.

Locked tokens cannot be sold until the lock ends. Ending a lock early costs its unpaid rewards and a penalty of up to 10% of the tokens.

Rewards depend on the fees a token earns, how its creator set them up, and how many other holders lock. They can be small or zero. They are paid in the chain's native token, whose price also moves. Any reward shown in advance is an estimate. On Solana, rewards reach staked tokens gradually, over the 7 days after each harvest collects them, so tokens staked for a short time earn little, and unstaked tokens earn nothing more.

Trader rewards depend on how much everyone else trades that week, are paid only once the week is over, and never exceed half the fee each of your trades paid. Trading to earn them therefore always costs more in fees than it can earn. A token whose creator sends most of its rewards to traders pays its holders less, and the other way round.

Rewards are paid by the token's smart contracts, out of that token's own trading fees, and distributed by the contracts. Backer and its operator, Community Platform, never hold, pay or control them, and they are not a payment by the company. Nobody at Backer can increase them, pay them early, or pay them if the contracts do not.

Every trade pays the Backer fee of 0.25%, plus LP injection, a fixed 0.10% on every token, plus the creator's split, up to 1.25% in total, plus network gas. Buying and then selling pays both times, so frequent or small trades can lose much of their value to fees.

A token’s creator can choose to pay for a social content service out of the launch. Where that has been chosen, the onboarding fee and the first month come out of the money raised on the curve when it graduates, and the pool is seeded by that much less. The amount is shown on that token’s page before you contribute.

That service, Content by Mira, is independent of Backer, which is not paid for the listing or for a subscription. It produces posts, captions and video. It does not trade, make markets or support a price, and the fact that a token pays for it says nothing about whether the token is worth anything.

A copied trade fills after the original, often at a worse price, and pays its own fees. Past results do not predict future results. The traders shown in the prototype are samples.

A trader who takes a share of your profit is paid when copying them makes you money, not when it serves you, and a rank or a result is not advice. The share can be taken on a gain you later lose.

A trader who posts about a token may hold it, may be selling it, and can be paid by the people reading, through paid messages and a share of copiers' profit. Read a post or a message as one person's opinion with an interest behind it, not as advice.

A payment for a message waits in an escrow contract for 72 hours. A short reply of 2 words is enough to release it to the trader, so a reply can be brief and still keep your money. If no reply comes in time, you must send the refund transaction yourself, and pay its gas, to get the money back. The escrow is tested but not audited, like the other contracts. Scammers can pose as traders or send links that look official: links in posts and messages are never clickable here, and nobody from Backer will ask for your keys, your recovery phrase or a payment outside the site.

The contracts are tested but not audited. A bug or an exploit could lose some or all of the funds they hold. The contracts cannot be upgraded, so a bug cannot be patched, and no one can undo what they do.

Curves are priced in USDC, or USDG on Robinhood Chain. The USDC on BSC is Binance-Peg USDC, a version issued by Binance.

A dollar token can lose its peg, and issuers of dollar tokens can freeze the tokens held at an address.

Only you control your wallet. If you lose your keys or your sign-in, or approve a malicious transaction, your funds can be lost for good, and Backer cannot recover them.

Embedded wallets depend on Privy. If Privy is unavailable, or you lose access to the email or social account you sign in with, you may be unable to reach your wallet.

Backer will never ask for your private key or recovery phrase.

Networks can become congested, halt or charge high gas. A transaction can fail and still cost gas, and others can trade ahead of your transaction to profit from it.

Expert mode is off unless you turn it on in Settings. While it is on, a one-click Back sends a transaction for your one-click amount the moment you press it, without asking you to confirm. You do not see the fee, the price impact, the lock options or the token check first, and the network's default slippage applies, so the trade can fill at a worse price than the one shown. A confirmed trade is final and cannot be undone. You can turn expert mode off at any time in Settings.

When card, Apple Pay or Google Pay buying is available, it will run through third-party providers. They set their own fees and identity checks, and they can refuse or delay a purchase.

Paying by card and backing a token are two separate steps. The price can move while the USDC is on its way, the provider can deliver less than you paid after its own fee or deliver it late, and the Back that follows can fail. Whatever arrives stays in your wallet until you use it. The Back also pays a network fee in the chain’s own coin, which the card payment does not buy. On Solana and Base, Backer may pay that fee for a Back from your embedded wallet when the wallet cannot, and can stop doing so at any time. On Solana it may also pay, from a limited daily budget, the account rent for your first Back on a token when that Back is at least the minimum shown before you pay; for a smaller Back, or otherwise, that rent is yours to pay. Rent it paid for a stake goes back to it when the stake closes.

Tokens launched on other platforms carry every risk on this page and more, because nobody at Backer set their rules and some are built to take your money. A token can block selling (a honeypot), charge a large tax on buys or sells, let its owner mint more, freeze your balance or change its code, or sit in a pool so thin that selling returns far less than you paid.

The safety checks are automated, come from third parties and can be wrong or miss a scam. A token marked unverified has not been reviewed by the aggregator either. Names and logos can be copied from real projects.

None of our protections apply to these tokens: no curve refund, no checkpoint, no reversion and no community takeover. If the token fails or the trade goes badly, there is nothing to claim back, and a confirmed trade cannot be undone.

The aggregator, Jupiter on Solana or LI.FI elsewhere, routes the trade and may use exchanges, or another launchpad's bonding curve, that Backer does not know or control. The price can move between the quote and the trade; the minimum received protects you only down to the slippage you chose. The Backer fee, up to 0.25% and shown in the quote, and the aggregator's own fee are charged whether the token later rises or falls.

Scammers copy popular tokens, build fake websites and send fake messages. Check the website address and the token's contract address before you sign anything, and never share your private key.

Laws about tokens are changing. New laws or enforcement could restrict Backer, the tokens on it, or your ability to use them, and Backer may block more places or features at any time.

You are responsible for your taxes. Trades, rewards, refunds and unwinds can all have tax consequences.

Prices, volumes, market caps and other figures can be late, incomplete or wrong. Chain volume figures come from DeFiLlama, which Backer does not control.

The real markets on the Explore board show tokens that are not on Backer, with figures from GeckoTerminal, for context only. They are picked by a fixed rule based on trading volume. Backer does not list, check or endorse them, and showing them is not a recommendation or investment advice.