Terms of Service

1. Acceptance of terms

By accessing or using Paperplanes ("the Platform"), you agree to these Terms of Service. If you do not agree, do not use the Platform. We may update these terms at any time. Continued use after changes means you accept the updated terms.

2. What Paperplanes is

Paperplanes is an independent interface for practicing and visualizing BTC and ETH trades. It is not affiliated with, endorsed by or operated by Papertrade, Hyperliquid or any exchange. We are not:

• An exchange, broker, dealer or trading platform
• A custodian of your funds or assets
• A financial advisor or provider of investment advice
• A market maker or counterparty to any trade

3. Practice mode

Today Paperplanes offers practice trading only. Practice accounts use virtual balances. No real money is deposited, traded, won or lost, and nothing you do in practice mode creates an order on any exchange or blockchain.

• Practice PAPER, practice USDC and practice results have no monetary value and cannot be redeemed, transferred or exchanged for anything.
• Practice fills, PnL, liquidations and PAPER estimates come from our own simulation model using public Hyperliquid prices and our assumptions about protocol rules. They can differ materially from what the real protocol would do.
• Leaderboards, rides, Flight Lab comparisons and other results describe simulated activity, not real trading performance or future returns.

4. Non-custodial design and future live features

Paperplanes is built to be non-custodial. We never ask for your private keys or seed phrase and never hold, control or have access to your funds. If we add live trading through a third-party protocol such as Papertrade, trades would be signed by you in your own wallet or session key and executed by that protocol's contracts and relayers, not by us. We could not execute, reverse or modify any transaction on your behalf. Live features, when offered, may come with additional terms shown at the time.

5. Eligibility

You represent and warrant that:

• You are at least 18 years old
• You have the legal capacity to enter into these terms
• You are not located in a jurisdiction where using a leveraged trading interface, even in practice form, is prohibited
• You are not subject to economic sanctions or listed on any prohibited party list
• You will comply with all laws and regulations that apply to you

6. Not financial advice

Nothing on the Platform is financial, investment, legal or tax advice. Content, simulations, cheat sheets and research describe hypothetical scenarios. Consult qualified professionals before making any financial decision.

7. Risk disclosure

Leveraged trading carries substantial risk of loss. If you trade on any real venue, including Papertrade:

• You may lose some or all of the capital you commit
• High leverage, up to 1000x, can liquidate a position after a very small price move, and a liquidation can forfeit your entire margin
• Winning trades may be reduced by protocol haircuts and fees, and payouts may be delayed or queued
• Tokens such as PAPER may be non-transferable, may have no market and may never have value
• Smart contracts, relayers, price feeds and networks can fail, be paused, be upgraded or be exploited
• Prices and data shown on the Platform can be delayed, incomplete or wrong

8. Accounts and public features

You can sign in with X through Privy to create a public pilot profile. When you connect X, your settled practice results are published to the public leaderboard with your X name, username and avatar; you can hide a result from Paper Trail. Sharing a ride and showing your profile while watching are opt-in. You agree to:

• Not impersonate other people, projects or public figures
• Not manipulate leaderboards, rankings or viewer counts, including with multiple sessions or automation
• Accept that published results and shared rides are public
• Accept that we may hide, remove or restrict profiles, results or rides at our discretion

9. Prohibited activities

You agree not to:

• Use the Platform for fraud, money laundering or any illegal activity
• Exploit bugs or vulnerabilities in the Platform
• Abuse API endpoints or interfere with the Platform's operation
• Misrepresent your identity or your results
• Scrape or collect data beyond reasonable personal use

10. Third-party services

The Platform relies on third parties, including Papertrade, Hyperliquid, Privy, X, Vercel and Railway. Their services are governed by their own terms, and we are not responsible for their availability, accuracy or conduct. Links to third-party sites are provided for convenience only and are not endorsements.

11. Intellectual property

The Paperplanes name, logo, artwork and interface design are proprietary. Market data shown on the Platform comes from public Hyperliquid sources. Papertrade and Hyperliquid names and marks belong to their respective owners.

12. Limitation of liability

To the maximum extent permitted by law, Paperplanes and its operators are not liable for any direct, indirect, incidental, consequential or special damages arising from your use of the Platform, including:

• Trading losses, missed opportunities or decisions based on simulations
• Errors in displayed data, prices, models or analytics
• Platform downtime or service interruptions
• Actions of third parties, including protocols, relayers and wallet or login providers
• Unauthorized access to your accounts or wallet

The Platform is provided "as is" and "as available" without warranties of any kind, express or implied.

13. Indemnification

You agree to indemnify and hold harmless Paperplanes and its operators from any claims, damages or expenses arising from your use of the Platform, your violation of these terms or your violation of any law or third-party right.

14. Changes and termination

We may modify, suspend or discontinue the Platform, or reset practice data, at any time without notice. We may restrict or end your access if you violate these terms.

15. Contact

For questions about these terms, reach out via @paperplanesxyz on X.