> For the complete documentation index, see [llms.txt](https://botlyz.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://botlyz.gitbook.io/docs/english/avertissement-risques.md). # Warning and risks ## Legal positioning **Botlyz is a trading automation software, not a financial adviser, an asset manager, or a custody service.** We are not regulated as a bank or a broker. We are a software editor that provides a tool to automate your trading decisions on Lighter DEX. ## Custody of funds: non-custodial (your funds stay with you) ### Your funds stay with you Botlyz **never has access to your funds**. The model is entirely non-custodial: * You keep your seed phrase and your private keys. * You deposit directly on Lighter through your wallet. * The API key you entrust to Botlyz can only **trade**: with this type of key, no withdrawal or transfer of funds to the outside is possible, only the placement and cancellation of orders. * This is the case **by design** at Lighter: when creating the key (the "Generate API Key" button), there is **no withdrawal permission** to grant, you only choose an index (see [Connect your account to Botlyz](/docs/english/installation-pas-a-pas/connecter-un-compte-lighter.md)). ### Your wallet, your responsibility You are responsible for: * Securing your seed phrase (never share it). * Generating your API keys securely on your Lighter account. * Checking the key permissions before providing them. * Keeping your device secure (if you use a hardware wallet, keep it physically safe). See also: [Non-custodial security](/docs/english/securite-non-custodial.md). ## Responsibility for trading decisions ### You decide. You are responsible. The software mechanically applies the rules that **you** define and sign: Botlyz does not initiate any trading decision on your behalf. * You choose the capital allocation (from 1% to 100% per pair). * You set the leverage (from 1x to 20x). * You set the stop-loss and the volatility envelopes. * You sign your configuration (EIP-712 signature). The software only **applies the rules you have signed**. The results (gains or losses) depend entirely on market conditions and on your parameters. See also: [Risk parameters](/docs/english/parametres-de-risque.md) and [Signature and transparency](/docs/english/signature-et-transparence.md). ## Risk warnings ### Trading involves significant risks **Risk 1: total loss of capital** The crypto market is volatile. A stop-loss, whatever its setting, can be crossed by a price gap and does not guarantee that the loss will be limited. You could lose all of your invested capital. **Never put at risk capital that you cannot afford to lose.** ### Risk 2: liquidation With leverage (2x, 5x, 20x), a rapid price movement can trigger a liquidation. The strategy you have signed places a closing order (stop-loss) according to your parameters, but in the event of a gap the fees and slippage can reduce the remaining capital. Botlyz does not intervene manually on your positions. ### Risk 3: volatility and execution In the event of high volatility, an order may be executed at a less favorable price than expected. Lighter is a DEX, not a centralized broker: prices can slip (slippage). ### Risk 4: technical bug Botlyz is software. Bugs exist. If an error leads to an incorrect execution, you remain responsible for your configuration and your capital. * If you decide to use the software, you can configure it with a reduced amount of capital to familiarize yourself with how it works before any further commitment. The sizing of your capital is your decision alone. * Monitor your positions regularly. * Report bugs to support immediately. ### Risk 5: the Lighter DEX itself Lighter is a decentralized protocol and exchange. They may experience bugs, hard forks, or liquidity problems. Botlyz has no control over these risks. ## No performance guarantee ### Strategies have a track record, not a guarantee The available strategies, including the exclusive SIGMA strategies, have been backtested and documented. A backtest describes past behavior on historical data. **It is not a promise of future profits.** * Past performance does not predict future performance. * Market conditions change constantly. * A configuration that worked yesterday may not work tomorrow. **No strategy wins every time, and the risk of loss is real.** To understand how the strategies work without any promise of return, see [Strategies overview](/docs/english/vue-d-ensemble.md), [Exclusive SIGMA strategies](/docs/english/strategies-exclusives-sigma.md) and [Backtest](/docs/english/backtest.md). ## Fees ### Botlyz protocol fee: 10 bps, capped The only fee related to Botlyz is a **protocol fee of 10 bps (0.10%)**, capped at 10 bps. It is automatically deducted on each order through Lighter's "partner attribution" program. As the application indicates, this is a protocol fee, collected and paid out by the platform, and **not a Botlyz invoice or commission**. Botlyz takes **no commission on your gains**, applies no subscription, and charges nothing by credit card. **Example:** an order of 1,000 USDC incurs 1 USDC of protocol fee. ### Lighter's own fees Independently of Botlyz, the Lighter platform applies its own fees (trading, funding) according to its terms. These fees do not go to Botlyz. For details, see [Fees](/docs/english/frais.md). ## Liability and limitation ### What Botlyz cannot do Botlyz cannot: * Advise you financially (do not ask "should I buy?"). * Guarantee profits. * Recover your funds in case of loss. * Insure you against market volatility. * Cancel a transaction once it has been validated. ### What you accept by using Botlyz By creating an account and signing a strategy, you accept that: * The software applies the rules you have signed, according to your parameters. * The results (gains or losses) are entirely your responsibility. * To the extent permitted by applicable law, Botlyz cannot be held liable for trading losses resulting from market conditions or from your configuration. This limitation does not apply in the event of fraud, gross negligence, or in cases where the law prohibits it. * You comply with the local laws applicable to trading and crypto. * You will not circumvent any sanctions or embargoes in force. ## Regulatory compliance ### Check the legality in your country Decentralized trading is an evolving regulatory area: * Some countries allow it without restriction. * Others regulate it heavily. * A few prohibit it. **Before using Botlyz, check:** * The legality of crypto derivatives trading in your jurisdiction. * Your tax obligations (taxes on gains). * Local KYC/AML rules. **Botlyz does not provide tax or regulatory advice.** ## Support and recourse ### Report a problem If you encounter: * A bug or unexpected behavior. * An abnormal order execution. * A security issue. Contact support: * **Telegram**: @botlyz\_manager * **Support form**: "Help" tab in the application. We will investigate and take appropriate measures, but we cannot guarantee any compensation. See also the [Support](/docs/english/support.md) page. ## Summary of the 5 golden rules 1. **Stay in control**: your keys, your wallet, your responsibility. 2. **Familiarize yourself with the tool**: the sizing of your capital is your decision alone. 3. **Understand the risk**: liquidation, volatility, technical bug. 4. **No promise**: Botlyz is an automation tool, not an asset manager. 5. **Check the legality**: crypto trading comes with local legal obligations. *** **By using Botlyz, you accept all of the risks described above. Read this disclaimer carefully. If in doubt, consult a qualified professional.** --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://botlyz.gitbook.io/docs/english/avertissement-risques.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.