Every Mithril surface carries a real risk of total loss.

Private-company equity, tokenized wrappers of private equity, perpetual futures, and prediction-market contracts can all go to zero. A private company can fail, get acquired at a lower valuation, or dilute existing shareholders. Tokenized wrappers inherit the underlying equity's risk. Perps can liquidate. Prediction markets resolve NO.

Control on Mithril: Position-size any Mithril trade to a dollar amount you can accept losing in full.

Private-company positions may be illiquid for years. There is no guarantee that a buyer will exist at any particular price, or at any price, when you want to exit. Tokenized wrappers on Base and Solana have order books — but depth can evaporate instantly.

Control on Mithril: Set price alerts, use limit orders, do not assume instant exit at current quoted price.

Prices displayed on Mithril are derived from secondary-market transactions, tokenized-market trades, and model estimates. These prices can and do diverge significantly from the eventual exit price at IPO, acquisition, or next private round. Marks are not guarantees.

Control on Mithril: See the Methodology page for exact price-sourcing logic and refresh cadence.

Underlying shares are frequently subject to company-imposed transfer restrictions, rights of first refusal, and IPO lockups. Tokenized wrappers may therefore be non-redeemable for extended periods, and OTC transfers may fail or be delayed at the company's option.

Mithril is not a broker-dealer and not a bank. No SIPC insurance covers your positions. No FDIC insurance covers any stablecoin or fiat balance in your self-custodied wallet.

Tokenized-equity wrappers and OTC escrow contracts are audited and open-source, but no audit catches every bug. A critical exploit could drain or lock funds. Factory and registry addresses are published on the Reserves page.

Control on Mithril: Keep wallet balances minimal; disconnect unused session approvals; consider hardware-wallet co-signing for size.

Base and Solana have different finality guarantees. A deep reorg on either chain is rare but possible, and could unwind a settled trade. Mithril treats a trade as settled after the chain-specific confirmation threshold.

Control on Mithril: High-value OTC settlements wait for an extra confirmation buffer beyond the default.

Tokenized-equity markets reference off-chain price inputs via oracles. A stale or manipulated oracle could let trades execute at bad prices. Mithril uses multiple independent price sources and sanity checks at the matching layer.

Control on Mithril: Large orders are subject to a maker/taker price-deviation circuit breaker.

On-chain trades on Base and Solana can be sandwiched, front-run, or back-run by block producers. Mithril routes through a mix of public and private mempools and surfaces the chosen path in the execution receipt.

Control on Mithril: Enable MEV protection in your wallet; see the MEV Protection policy for current vendor set.

Perps trade with leverage. Adverse price moves can force liquidation and total loss of the margin posted. Funding payments and cross-margin exposure can amplify losses. Perps surfaces on Mithril are US-blocked, non-custodial, and route to Hyperliquid on Solana.

Control on Mithril: Maximum leverage is surfaced inline on every perp contract. Stop losses and take-profits are available on-chain.

Event-contract resolution depends on the contract's resolution rule and oracle source. Ambiguous events can be resolved against you. Liquidity can be thin close to resolution. US users can only access CFTC-regulated Kalshi contracts; Polymarket contracts are US-blocked.

Control on Mithril: Read every resolution rule in full before entering; check open interest and time-to-resolution.

An accepted IOI is an indication, not a guaranteed close. Final settlement depends on underlying-share transfer (often gated by the company), funds wire, and escrow release. Closings can take weeks and can fail.

Control on Mithril: Funds and shares sit with a qualified third-party escrow agent named in the SPA — never in a Mithril wallet. Dispute process documented in the SPA.

Mithril’s intended regulatory posture is subject to outside counsel’s opinion and could change before or after launch. CFTC rules on event contracts and perps are actively evolving. State blue-sky regimes vary. Tax treatment of tokenized private-company equity is not yet fully settled.

Some products are unavailable or restricted in your jurisdiction. Users from OFAC-sanctioned countries are IP- and wallet-blocked. UK / EU / Singapore / Canada / Australia retail users are restricted to sophisticated-investor surfaces.

Control on Mithril: Geographic coverage is mapped in full on the Compliance page.

Trading tokenized private equity, perps, and prediction markets can generate a mix of capital-gains, ordinary-income, and Section 1256-style tax events depending on jurisdiction. Wrap / unwrap events may themselves be taxable.

Control on Mithril: Trade history is exportable as CSV/PDF. Consult a tax professional — Mithril does not provide tax advice.