Risk Disclaimer
Important risks you must understand before using Ask A Degen
⚠️ HIGH RISK EXPERIMENTAL PROTOCOL ⚠️
Ask A Degen is an experimental prediction market built for educational and entertainment purposes only. This is NOT an investment platform. You can lose all funds you put into the protocol. Only participate with money you can afford to lose completely.
💸 Total Loss of Funds
You can lose 100% of any SOL you bet. Prediction markets are inherently risky. Wrong predictions = lost money. There are no guaranteed returns.
📈 SOL Price Volatility
Even if you win, SOL"s value can fluctuate dramatically. Your winnings in SOL might be worth significantly less in fiat currency when you claim them.
💰 House Edge
The protocol takes a 2.5% fee from total pools. This mathematical edge means the "house" has a statistical advantage over time.
🎯 Prediction Difficulty
Predicting future events is extremely difficult. Even "obvious" outcomes can be wrong. Past performance doesn"t predict future results.
🐛 Smart Contract Bugs
Smart contracts may contain bugs, vulnerabilities, or logical errors that could result in permanent loss of funds. Code audits reduce but don"t eliminate this risk.
⛓️ Blockchain Risks
Solana network outages, congestion, or forks could prevent transactions. High gas fees during network congestion could make small bets uneconomical.
🔑 Wallet Security
You"re responsible for securing your private keys. Lost keys = lost funds forever. Compromised wallets can lead to theft of all assets.
🔄 Irreversible Transactions
All blockchain transactions are final. Mistakes in betting cannot be undone. There"s no customer service to reverse transactions.
🏗️ Experimental Protocol
This is a hobby project in active development. Features may break, change, or be discontinued without notice. There"s no guarantee of continued operation.
⚖️ Manual Resolution
Questions are currently resolved manually, which introduces human error and potential bias. Resolution disputes may not have clear appeal processes.
🌐 Website Availability
The frontend website could become unavailable due to hosting issues, domain problems, or other technical failures, though smart contracts would remain accessible.
👥 Low Liquidity
As a new platform, many markets may have low participation. Small pools mean higher impact from individual bets and potentially skewed odds.
🏛️ Regulatory Uncertainty
Prediction markets exist in legal gray areas. Future regulations could impact the platform"s operation or your ability to access funds.
🚫 Jurisdiction Restrictions
Use may be illegal in your jurisdiction. You"re responsible for compliance with local laws. Violating laws could result in legal consequences.
💼 Tax Implications
Winnings may be subject to taxes in your jurisdiction. You"re responsible for reporting and paying any applicable taxes on gains.
🎭 Whale Manipulation
Large players ("whales") can skew markets with big bets, creating misleading odds that don't reflect true probabilities.
📢 Information Asymmetry
Some participants may have access to better information, insider knowledge, or superior analysis tools, putting casual users at a disadvantage.
🧠 Psychological Risks
Betting can be addictive. The excitement of winning can lead to overconfidence and poor decision-making. Know your limits.
🎯 Coordination Attacks
Groups could coordinate to manipulate specific markets or outcomes, especially in low-liquidity situations.
🚨 FINAL WARNING 🚨
This platform is EXPERIMENTAL and HIGH RISK.
You can lose all money you put in. This is not investment advice. This is not financial advice. This is not gambling advice.
Only participate if you fully understand and accept these risks.
If you're not comfortable with potentially losing 100% of your stake, DO NOT USE THIS PLATFORM.
Acknowledgment Required
By using Ask A Degen, you acknowledge that you have read, understood, and accept all the risks outlined above. You confirm that you are participating at your own risk and that no one has provided you with investment, financial, or gambling advice.