Terms

Testnet software, provided as is

Parry runs on NEAR testnet. Testnet tokens have no value, and testnet networks, contracts and data can be reset or changed at any time. Parry is provided as is, without warranties of any kind, express or implied, including fitness for a particular purpose. Use it to learn and to test, not to protect real money.

No custody

Parry never holds your funds. Your protected account is your own contract, owned by you. The guardian can only take the protective actions your mandate allows, it can never move money out of your account, and you can revoke or override it at any moment.

Your choices

• You decide the mandate: thresholds, rescue reserve, daily cap, allowed actions and expiry.
• A rescue can fail or arrive too late, for example when markets move faster than any guardian can act.
• Risk scores and predictions are estimates, not promises.

The vault and its insurance fee

The vault charges no management or performance fee. One fee applies: 10% of the vault's positive yield (staking and funding) goes into its insurance fund, and only when that yield is positive. The vault's operator can change that share, never above 50%, and every change is an event on the vault contract. The fund pays out for three things only: a streak of negative funding on the hedge, hedge slippage beyond the price band, and topping up the hedge's margin on Hyperliquid; each payout and each day is capped, every inflow and payout is an event on the vault contract, and the fund is part of the proof of reserves. The fund lowers, but does not remove, the risk of losing value in the vault.

Liability

To the fullest extent the law allows, the authors of Parry are not liable for any loss arising from using it, including losses from liquidations, failed rescues, outages or bugs.

Open source

Parry is released under the MIT License. See also the privacy notice and the security policy.

Changes

These terms may change as Parry develops. The version on this page is the one that applies.