Risk Disclaimer

Risk Disclaimer

Read this before you pay for a challenge. Trading - simulated or funded - carries real risk, and forge's specific mechanics carry risks beyond ordinary trading. This section does not cover every risk; it's a starting point, not a substitute for your own judgment.

1. Challenge fees are not a deposit

A challenge fee buys a one-time evaluation, not custody of funds. You cannot withdraw the fee, and the simulated balance in a challenge account is not money you own - it's a performance threshold. Only realized profit on a passed, funded account is eligible for payout, under the caps below.

2. Payouts are capped by a real, finite reserve

Hard-capped to onchain reserve; excess queues FIFO Per trader, per epoch, payouts are capped at greater of $10,000 or 5% of reserve, per trader per epoch. Meeting a profit target does not guarantee immediate or full payout of that profit if reserve capacity is constrained that epoch.

3. Phase 1 is simulated trading

Phase 1 - accounts are simulated on live Hyperliquid prices; payouts are funded by the $FORGE treasury. Simulated fills track live Hyperliquid prices but are not orders placed on Hyperliquid itself; execution, slippage, and market-impact characteristics of a real order book can differ from what a simulation shows.

4. Leverage amplifies losses

forge caps selectable leverage below Hyperliquid's own per-asset venue maximum (currently up to 5x on BTC/ETH, 2x on other crypto, and 4x on equities/commodities, or the live Hyperliquid cap if that's lower - check the current figure on the Markets page). Even at a capped level, leverage magnifies both gains and losses and can accelerate a daily-loss or drawdown breach. Using maximum available leverage is never required and is not a strategy we endorse.

5. Crypto, equities, and commodity perps are volatile

Every market forge offers access to - crypto majors and alts, and the equity/commodity perpetuals listed on Hyperliquid's builder-deployed venues - can move sharply and without warning. Past price action is not predictive of future price action.

6. $FORGE and staking carry price and liquidity risk

Staking distributions are up to 40% of challenge fees of challenge fees, and distributions vary and can be zero. $FORGE itself can lose value, become illiquid, or be affected by smart-contract risk in the staking contract. Never stake or hold more $FORGE than you can afford to lose entirely.

7. Payout wallets are screened onchain

Before a payout is sent, the destination wallet is screened against sanctions lists and for mixer/exploit exposure. A flagged wallet's payout is held pending review and may be refused. This is not a KYC check on you as a person - no kyc - your wallet is your account. payout wallets are screened onchain.

8. Smart-contract and custody risk

Payouts and staking run through smart contracts. Bugs, exploits, or upstream failures (including in Hyperliquid's own infrastructure) are possible and outside forge's control; we do not guarantee against them.

9. Nothing here is advice or a guarantee

Nothing on this site, in the app, or in this document is financial, investment, tax, or legal advice, or a guarantee of any outcome - passing a challenge, receiving a payout, or any rate of return on $FORGE. You are solely responsible for your trading decisions and for understanding the rules before you pay for a challenge.