Terms of service

1. The service

Depth is software that automates a fee-recycling loop for tokens launched through Pons on Robinhood Chain. When you launch a coin, Depth deploys a strategy account — a smart contract whose economic terms you set at launch and which cannot be changed afterwards.

Creator fees earned by your coin are claimed into that account and divided into three streams — buyback, margin and reserve — in the proportions you chose. The buyback stream market-buys your token and burns it, pools it for a holder payout, or holds it in the coin's treasury, according to the payout mode you selected. The margin stream is posted as collateral for leveraged perpetual positions on Lighter in the markets you selected. The reserve stream is held to defend those positions as price moves against them.

Realized profits are harvested in slices, returned to Robinhood Chain, and used to buy your token according to the same payout mode.

Depth does not sell you a token, an investment product, a security, a derivative, a managed account, or a share in any pool. It is a tool that executes a strategy you configure, using fees your own coin generates.

2. Eligibility and your representations

By using Depth you represent and warrant, each time you use it, that you are at least 18 years old and have the legal capacity to enter into a binding contract.

You further represent that your use of Depth, of Pons, of Lighter, and of leveraged perpetual futures generally is lawful in every jurisdiction that applies to you, and that you have satisfied yourself of this independently. Leveraged derivatives are restricted or prohibited for retail users in many jurisdictions.

You represent that you are not subject to sanctions administered by any relevant authority, and that you are not acting on behalf of any person who is.

3. Risk

Depth is experimental software that routes creator-reward fees into leveraged perpetual futures positions. Leveraged trading can and does lose money, up to and including the entire amount deployed. Nothing on this site is a promise, projection, or guarantee of any financial outcome.

The reserve ladder, position isolation and resting stop-loss reduce but do not eliminate the risk of total loss. A fast market gap can blow through a stop. Funding is charged continuously on open positions and can erode collateral even when price has not moved against you.

Smart contracts may contain defects. Third-party venues may halt, delist markets, change margin requirements, or become unavailable. Blockchain networks may congest or reorganise.

4. Fees

Depth retains 10% of creator fees claimed on your behalf and 10% of realized trading profit. The performance fee applies only to realized gains; losing positions pay no performance fee.

Separately, deployed capital pays the market's own costs, which Depth does not receive: Lighter trading fees, funding on open positions, Robinhood Chain gas, and swap slippage.

Fee rates in effect for a coin are fixed at launch and stored on-chain with the rest of its strategy terms.

5. Custody and control

Your coin's capital is held by its strategy account contract. That contract enforces the caps and terms you set at launch and cannot transfer capital to an arbitrary address.

If you launch in agent mode, the agent key you nominate may sign venue orders within those caps. It holds no on-chain custody rights. You may rotate or revoke the agent at any time, and only you can do so.

Depth operates the off-chain execution engine that submits transactions and venue orders. You are relying on that operator for liveness: if the engine stops, your positions are not actively managed.

6. No advice

Nothing provided by Depth is financial, investment, legal, or tax advice. Presets are descriptions of mechanical rules, not recommendations. You are solely responsible for the configuration you choose and for its consequences.

7. Limitation of liability

To the maximum extent permitted by law, Depth and its contributors are not liable for any indirect, incidental, special, consequential, or exemplary damages, or for any loss of profits, revenue, tokens, or data, arising out of or relating to your use of the service.

The service is provided on an “as is” and “as available” basis, without warranties of any kind, whether express or implied.

8. Disputes

These terms limit our liability, require disputes to be resolved by individual arbitration, and waive your right to a jury trial and to participate in a class action. If you do not agree, do not use Depth.

9. Changes

We may update these terms. Material changes will be announced before they take effect. Terms already locked into a deployed strategy account are not affected by changes to this document.