Terms of Use

1. What this is

Erasertrade is a user interface to smart contracts on HyperEVM that let you trade perpetual contracts against a liquidity pool, priced from Hyperliquid. The interface and the relayer that submits your signed orders are operated by [OPERATOR LEGAL NAME] (“we”). By connecting a wallet or using the interface you agree to these terms.

2. Who may use it

• You are at least 18 and able to enter a binding agreement.
• You are not a resident of, located in, or incorporated in a restricted region: [LIST TO BE SET BY COUNSEL, e.g. the United States, sanctioned countries]. Opening positions is unavailable from those regions; you can always close positions and withdraw.
• You are not on a sanctions list and are not acting for anyone who is.
• You won't use a VPN or other means to get around these limits.

3. Your funds and keys

Your deposits are held by the Erasertrade contracts on Hyperliquid's HyperCore, not by us. You control your wallet and its keys; we never see them and can't recover them. The trading key created when you enable trading lives in your browser, can open and close positions for you, and can't withdraw. Withdrawals always need your wallet's signature. A withdrawal to a wrong address can't be reversed.

4. Risks you accept

• Leverage up to 1000× means a very small price move can close your position and lose its whole margin. Past the bust price a position is liquidated.
• Wins are paid by a pool funded by other traders' losses. When the pool is short, wins wait in a payout queue with no guaranteed date.
• Prices come from Hyperliquid's order book and mark price. Outages, manipulation or errors there affect your trades.
• Smart contracts can have bugs. The contracts are upgradeable by a multisig, without a delay. Losses from defects or upgrades are possible.
• ERASER is minted on losses. It isn't transferable at launch, has no promised value, and isn't an investment or a claim on anyone.

Read the full risk section and the contracts and rules before trading.

5. Fees

Fees are set by the contracts and shown in the app: no fee on losses beyond the loss itself (a share of each loss goes to stakers and the protocol instead of the pool), and a price-impact haircut plus a fee on winning profit. Referral payouts and rebates come out of the protocol's share. We may change the fees for future settlements through the multisig, within hard caps written into the contracts: at most 10% of a loss and 3% of a winning profit.

6. Conduct and public content

• No market manipulation, wash trading, or attacks on the contracts, the relayer or other users.
• Usernames and calls are public. No impersonation, hate, scams or misleading claims. We may hide names or calls that break these rules; on-chain records stay as they are.
• Nothing in the app, including other traders' calls, is financial advice.

7. No warranty, limited liability

The interface is provided “as is”. To the extent the law allows, we aren't liable for losses from trading, price feeds, smart contracts, HyperCore or HyperEVM, wallets, or interruptions of the interface or relayer. You can always exit without us: signed closes and withdrawals can be sent to the contracts directly.

8. Data

Trades, balances and usernames are public on chain or through the app. The website uses Google Analytics, which sets cookies, to count visits and see which pages are used; it doesn't receive your keys or signatures. You can block it with your browser or an ad blocker without affecting trading.

9. Changes and law

We may update these terms; the date above changes and the app asks you to accept the new version. These terms are governed by [GOVERNING LAW / VENUE TO BE SET BY COUNSEL]. Contact: [CONTACT ADDRESS].