Risk disclosures

Knight Wallet · Draft version 0.9 · 1 November 2026 · Awaiting lawyer review

Please read this before using Knight. You can lose all the money you use. Knight is software made by Dyrection LLC; Dyrection does not hold your assets and does not provide the trading, swapping or betting services described below. Nothing here is advice.

1. Crypto-assets in general

• Prices move fast. Crypto-asset prices can fall sharply, even to zero, in minutes.
• No protection schemes. Crypto-assets are usually not covered by deposit insurance, investor compensation or similar schemes.
• Transactions are final. A transaction sent to the wrong address or network usually cannot be reversed.
• Keys are your responsibility. Lose your recovery phrase and your device, and your assets are gone. Share it, and someone can take them.
• Scams are common. Fake tokens, fake support agents, fake airdrops and harmful websites are widespread. Knight's warnings help but cannot catch everything.
• Technology can fail. Blockchains, wallets, smart contracts, oracles and bridges can have bugs, be hacked or stop working.
• Rules can change. Laws and tax rules for crypto-assets are changing in many countries and could affect you or the services you use. You are responsible for your own taxes.

2. Swaps and bridges

Swaps and cross-chain transfers are provided by third parties such as LI.FI and the exchanges and bridges it routes through.

• Price changes and slippage: you may receive less than the quote. The minimum you will receive is shown before you confirm.
• Bridge risk: cross-chain transfers rely on bridges that have been hacked in the past. A transfer can be delayed or, rarely, lost.
• Token risk: some tokens can have hidden taxes, block selling or be copies of real tokens.
• Approvals: some swaps ask you to approve a contract to spend a token. Knight asks for the exact amount only, but an approved contract can still be misused if it is faulty.

3. Perpetual futures (Hyperliquid)

Perpetual futures ("perps") are leveraged derivatives provided by Hyperliquid, an independent platform. Knight only lets you send orders you sign.

• Leverage multiplies losses. At 5x leverage, a 20% price move against you can wipe out your whole margin.
• Liquidation: if the price reaches your liquidation price, your position is closed automatically and you lose your margin. Prices can jump past your stop.
• Funding payments: you may pay or receive funding every hour while a position is open.
• Platform risk: Hyperliquid can change rules, limits or margins, pause trading, or suffer outages or hacks.
• Not for everyone: perps are complex. Most retail traders who use leverage lose money. Perps are not available in some countries.

4. Prediction markets (Polymarket)

Prediction markets are provided by Polymarket, an independent platform. Knight only lets you send orders you sign.

• You can lose your whole stake. If the outcome you picked does not happen, your shares are worth zero.
• Prices are not probabilities you can rely on. Markets can be thin and easy to move.
• Resolution risk: outcomes are decided by Polymarket's rules and resolution sources, which can be disputed or delayed.
• Legal limits: prediction markets are treated as betting or financial products in many countries and are blocked in some. You must be 18 or older and allowed to take part where you are.
• Play responsibly. Only use money you can afford to lose. If betting is becoming a problem, get help from a local support service.

5. Buying and selling with cards

Card and bank purchases are provided by Ramp or MoonPay under their own terms and identity checks. Prices include their fees and spread, and payments can be delayed or refused by them or your bank.

6. Information in the app

Prices, charts, sentiment (Knight Mood), trending lists, safety scores and news come from third parties or automated systems. They can be wrong, late or incomplete and are not advice.