Moonshot Leverage Trading Disclosure Statement

Effective Date: March 12, 2026.

Please click here to view the previous version of our Moonshot Leverage Trading Disclosure Statement.

The risk of loss in leverage trading (Leverage Trades) through decentralized protocols can be substantial and may exceed losses that may be experienced in underlying spot markets. You should, therefore, carefully do your own research and carefully consider whether such trading is suitable for you in light of your circumstances, financial resources, investment objectives knowledge of cryptocurrency assets, risk tolerance and technical competency. You should be aware of the following points:


Critical Notice: Unregulated Technical Interface

Moonshot is not a regulated broker, futures commission merchant, or other regulated intermediary. Moonshot operates solely as a technical interface connecting users to the Jupiter Exchange decentralized protocol. You will NOT receive the protections typically associated with regulated financial intermediaries. You are responsible for your Leverage Trade transactions and Moonshot is not responsible for any losses you may experience.


Leverage Trading Risks
  1. You may sustain a total loss of the funds that you deposit as collateral for leverage trade positions. Leverage Trading involves significant leverage and may result in losses greater than the total amount of funds you have deposited as collateral. If the market moves against your position, your positions may be automatically liquidated by the Jupiter Exchange protocol, and you will be liable for any resulting deficit.
  2. Neither Moonshot nor Jupiter Exchange is obligated to notify you of any failure to meet margin requirements prior to liquidation of positions. You are solely responsible for monitoring your positions at all times and maintaining sufficient collateral to meet the margin requirements established by Jupiter Exchange. No margin calls will be provided.
  3. Automatic liquidations occur according to protocols established by Jupiter Exchange, over which Moonshot has no control. You acknowledge and understand that if your positions do not maintain sufficient margin, they may be automatically liquidated according to Jupiter Exchange's smart contract protocols. Moonshot bears no liability for any losses resulting from such liquidations.
  4. The high degree of leverage obtainable in leverage trading can work against you as well as for you. Leverage amplifies both potential gains and potential losses. Even small market movements against your position can result in substantial losses, including the loss of your entire collateral deposit.
  5. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur due to extreme market volatility, blockchain network congestion, smart contract limitations, or protocol-level restrictions. During such periods, losses may accumulate rapidly without your ability to exit positions.

Decentralized Protocol & Technical Risks
  1. All leverage trading transactions are executed directly on the Jupiter Exchange decentralized protocol, not by Moonshot. Moonshot provides only a technical interface to connect you to Jupiter Exchange. All trading, settlement, margin management, and liquidations occur directly on the Jupiter Exchange protocol through smart contracts.
  2. Moonshot cannot guarantee the continuous operation or availability of the Jupiter Exchange protocol. The operation, functionality, and availability of Jupiter Exchange is controlled by Jupiter Exchange and its governance mechanisms, not Moonshot. Protocol upgrades, governance decisions, or technical failures may affect your ability to access or manage your positions.
  3. Smart contract vulnerabilities and blockchain network risks may result in loss of funds. Leverage Trading operates through smart contracts that may contain bugs, vulnerabilities, or design flaws. Blockchain networks may experience congestion, forks, or other technical issues that could affect transaction execution or position management.
  4. You assume all risks associated with technical failures, including delays, failures in transmission, misinterpretation of instructions, or loss of connection. Moonshot's interface may experience downtime, data transmission delays, or connectivity issues with Jupiter Exchange. During such periods, you may be unable to access or manage your positions through Moonshot's interface.
  5. Information displayed about margin requirements and liquidation thresholds is provided as a courtesy and may not always be accurate or up-to-date. Due to delays in data transmission, blockchain confirmation times, or other technical factors, the margin and position information displayed through Moonshot's interface may not reflect real-time protocol status.

Regulatory & Jurisdictional Risks
  1. Leverage trading through decentralized protocols, such as Jupiter Exchange, operates in a complex and evolving regulatory environment. Regulatory authorities may determine that certain activities constitute regulated financial services, potentially affecting the availability or legality of Leverage Trading and the Jupiter Exchange, in various jurisdictions.
  2. You are solely responsible for compliance with all applicable laws and regulations in your jurisdiction. The legal status of cryptocurrency derivatives, decentralized finance protocols, and technical interface providers varies significantly across jurisdictions and continues to evolve.
  3. You may not be afforded certain protections that apply to transactions with regulated financial intermediaries. Unlike traditional regulated brokers or futures commission merchants, Moonshot does not provide customer fund segregation, insurance protection, fiduciary oversight, or regulatory dispute resolution mechanisms. Moonshot is a technical interface provider and not a regulated financial intermediary.
  4. Tax treatment of leverage trading transactions is uncertain and complex. You are solely responsible for determining what taxes, if any, arise from your Leverage Trading transactions and for reporting and paying any applicable taxes.

Custody & Fund Protection Risks
  1. Moonshot does not hold, custody, or control your funds. All funds used for leverage trading are held directly in smart contracts on the Jupiter Exchange protocol or in your personal cryptocurrency wallets. Moonshot cannot protect, recover, or provide insurance for your funds.
  2. Your funds are not protected by traditional financial institution safeguards. Your funds are not protected by deposit insurance, the Securities Investor Protection Corporation, or other traditional investor protection mechanisms. If funds are lost due to smart contract failures, hacking, or protocol vulnerabilities, there may be no recourse for recovery.
  3. You are solely responsible for the security of your cryptocurrency wallets and private keys. Loss of access to your wallets or compromise of your private keys may result in permanent loss of funds with no possibility of recovery.
  4. You bear all risks associated with cryptocurrency custody, including but not limited to hacking, theft, loss of private keys, and technological failures. Moonshot provides no custody services and cannot assist in fund recovery.

Liquidity & Market Structure Risks
  1. Leverage trading markets may lack sufficient liquidity to execute your desired transactions. Decentralized exchanges may have limited liquidity compared to centralized venues, potentially resulting in significant price slippage or inability to execute large orders.
  2. Decentralized exchange market structure may expose you to additional risks not present in traditional markets. These include but are not limited to front-running, MEV (Maximum Extractable Value) extraction, sandwich attacks, and other forms of market manipulation specific to blockchain-based trading.
  3. Funding rates and borrowing costs are determined by protocol algorithms and market forces beyond Moonshot's control. These rates can fluctuate significantly and unpredictably, affecting the cost of maintaining positions.
  4. Price discovery mechanisms in decentralized markets may differ substantially from traditional markets. This may result in pricing inefficiencies, increased volatility, or disconnection from underlying asset values.

Operational & Business Risks
  1. Moonshot may suspend, restrict, or terminate your access to the interface at any time for any reason without advance notice to you. If your access is terminated while you have open positions, you will need to manage these positions directly through Jupiter Exchange or another interface. Moonshot bears no responsibility for positions that remain open after termination.
  2. Moonshot may impose interface-level restrictions on your trading activity. These restrictions may limit order size, frequency, or types of transactions you can execute, and may be in addition to any limits imposed by Jupiter Exchange.
  3. You will incur multiple categories of fees in connection with Leverage Trading, each of which can reduce or eliminate the value of your position. Moonshot charges a platform fee on the collateral value of each Leverage Trade at opening and closing. Jupiter protocol separately charges base position fees, ongoing borrow fees, price impact fees, swap fees where applicable, and liquidation fees, all of which are set and may be changed by Jupiter without notice to Moonshot or to you. Solana network fees, including priority fees set by Moonshot, apply to every transaction. Borrow fees accrue continuously against your posted collateral and will increase your effective leverage and worsen your liquidation price over time. You may be liquidated solely as a result of fee accrual even if market prices do not move against you. Fees are charged on positions closed by liquidation; you will not recover posted collateral upon liquidation. For a complete description of all applicable fees, see Section 10 of the Leverage Trading Agreement.
  4. Alternative access to Jupiter Exchange may be required during interface downtime. You should understand how to access Jupiter Exchange directly or through alternative interfaces to manage your positions if Moonshot's interface is unavailable.

Informational & Advisory Risks
  1. Moonshot does not provide investment advice, suitability assessments, or recommendations. Moonshot is not an investment adviser or a commodity trading adviser. You are solely responsible for determining whether Leverage Trading is appropriate for your financial situation, risk tolerance, and investment objectives.
  2. Information provided through Moonshot's interface may be inaccurate, incomplete, or outdated. Moonshot does not guarantee the accuracy, timeliness, or completeness of any market data, position information, or other content provided through its interface.
  3. You should not rely on Moonshot for information about tax implications, legal requirements, or regulatory compliance. You should consult qualified professionals for advice on these matters.
  4. Third-party information and data providers bear no liability for accuracy or completeness of information. Information accessible through Moonshot may be provided by third parties who disclaim warranties and limit liability for their content.

Cryptocurrency-Specific Risks
  1. Cryptocurrency markets are highly volatile and unpredictable. Digital asset prices can experience extreme fluctuations within short time periods, amplifying the risks associated with Leverage Trading positions.
  2. Blockchain network congestion or failures may prevent timely execution of transactions. During periods of high network activity, transactions may be delayed or fail to execute, potentially preventing you from managing your positions effectively.
  3. Cryptocurrency protocol changes, forks, or upgrades may affect your positions. Changes to underlying blockchain protocols may impact the operation of Jupiter Exchange or the valuation of your positions in ways that cannot be predicted.
  4. Correlation between different cryptocurrencies may increase during market stress. Diversification among different cryptocurrency assets may provide less protection than expected during market downturns.

Dispute Resolution & Legal Recourse Limitations
  1. Your legal recourse against Moonshot is severely limited. Moonshot disclaims liability except for gross negligence, fraud, or willful misconduct. You may have limited ability to recover losses through legal action, see our Terms of Use for more.
  2. Disputes related to Jupiter Exchange protocol operation are outside Moonshot's control. Moonshot cannot resolve disputes related to smart contract execution, protocol governance decisions, or Jupiter Exchange operational issues.
  3. Governing Law and Jurisdiction. Any disputes arising from your use of Leverage Trading shall be governed by and construed in accordance with the laws of the Republic of Panama, without regard to conflict of law principles. Any legal proceedings must be brought exclusively in the courts of the Republic of Panama. You acknowledge that United States laws do not apply to your use of Moonshot's services or any disputes arising therefrom.

Technical Competency Requirements
  1. Leverage trading requires significant technical knowledge and understanding. You must understand blockchain technology, smart contracts, cryptocurrency wallets, private key management, and decentralized exchange protocols to trade safely.
  2. You must understand the fundamental operation of Leverage Trading, including funding rates, liquidation mechanisms, and margin requirements. Failure to understand these concepts may result in unexpected losses or liquidations.
  3. You should maintain the ability to access Jupiter Exchange directly without Moonshot's interface. Technical competency to interact directly with smart contracts may be necessary during emergencies or interface downtime.

Additional Important Considerations
  1. This risk disclosure cannot describe all possible risks associated with Leverage Trading through decentralized protocols. The rapidly evolving nature of cryptocurrency markets, blockchain technology, and decentralized finance creates novel risks that may not be fully understood or anticipated.
  2. You should only trade with funds you can afford to lose entirely. Given the high-risk nature of leveraged cryptocurrency trading through unregulated decentralized protocols, you should never risk funds necessary for living expenses or financial security.
  3. Regulatory authorities may prohibit or restrict Leverage Trading in the future. Changes in law or regulation could make Leverage Trading illegal or impractical in your jurisdiction, potentially affecting your ability to close positions or recover funds.

THIS BRIEF STATEMENT CANNOT, OF COURSE, DISCLOSE ALL THE RISKS AND OTHER ASPECTS OF LEVERAGE TRADING THROUGH DECENTRALIZED PROTOCOLS. THE COMBINATION OF HIGH LEVERAGE, CRYPTOCURRENCY VOLATILITY, SMART CONTRACT RISKS, AND LIMITED REGULATORY PROTECTION CREATES AN EXTREMELY HIGH-RISK TRADING ENVIRONMENT UNSUITABLE FOR MOST INVESTORS. YOUR USE OF LEVERAGE TRADING IS AT YOUR OWN RISK.


Before Leverage Trading, You Should:

If you do not fully understand these risks or lack the technical competency to safely interact with decentralized protocols, you should not make Leveraged Trades.


Moonshot reserves the right to periodically make any changes, modifications or amendments to this Risk Disclosure, in its sole discretion, by posting or making available to you an updated Risk Disclosure. The updated Risk Disclosure will be effective immediately and your continued Leverage Trading will constitute your acknowledgment and acceptance of the updated Risk Disclosure. If you do not understand or agree with the terms of any updated Risk Disclosure, you must immediately stop Leverage Trading.