Risk Disclosure
Important. This Risk Disclosure accompanies the Terms of Use and Privacy Policy for raiku.com and its related subdomains, operated by Leigon Ltd ("Raiku"). It covers website information about Blackline, validator services and rkuSOL. Each product specific disclosure applies only to the relevant activity; reading a corporate page does not make you a staker or a Blackline customer. The rkuSOL sections address liquid staking through the relevant Solana stake pool and Sanctum infrastructure. This document is not exhaustive. Read the terms and disclosures applicable to any product or third party service you use.
Separate agreements. This website disclosure does not amend or remove service commitments, remedies, payment obligations or rights under a separate software licence, hosting agreement, liquidity provider subscription or binding reward programme. Those agreements govern their own subject matter, subject to mandatory law.
No regulatory approval. Website availability, a technical integration or reference to market practice must not be treated as regulatory approval, licensing or endorsement of rkuSOL, Blackline or any other product. Legal treatment varies by jurisdiction and may change. No representation is made that a product is lawful or available to every visitor.
No advice. Nothing in this Risk Disclosure or the Services is investment, legal, tax or other professional advice. Independently assess any decision to trade, stake, mint or hold rkuSOL, or use a third party protocol, and obtain professional advice where appropriate.
1. General risks of digital assets
Price volatility. SOL, rkuSOL and other digital assets can be highly volatile. Prices may move significantly over short periods. You may lose some or all of the value deployed in trading, staking or decentralised finance activities.
No compensation schemes. Digital assets are generally not covered by investor compensation schemes, deposit guarantee schemes or other protections that apply to traditional financial products. If you lose digital assets, there may be no legal or practical means of recovering them.
Irreversibility. Transactions on public blockchains are generally irreversible. Errors made by you or by any third party, and transactions induced by fraud, phishing or exploit, typically cannot be undone.
2. Smart contract and technology risk
Blackline, validator software, stake pool programmes and the underlying blockchain may contain bugs, vulnerabilities or design flaws. Outages, cyber attacks, configuration errors, third party dependencies or protocol changes may cause failed transactions, losses or inability to access assets. rkuSOL depends on the relevant stake pool and Sanctum infrastructure.
Audit of smart contracts and infrastructure does not eliminate this risk. The existence of an audit report does not constitute an assurance, by Raiku or by the auditor, that the relevant smart contract is free of defects or that the underlying infrastructure is secure. New vulnerabilities may emerge over time, and smart contracts may be upgraded or modified in ways that introduce new risks. Any reliance on such smart contracts or infrastructure is at your own risk.
Blackline and automated trading. A firm remains responsible for its strategy, parameters and trading authority when using Blackline under its separate agreement. Blackline may provide the firm's strategy with access to transactions as a Raiku validator executes them before broader network confirmation; this is not advance visibility of pending orders. Where the applicable agreement provides guaranteed inclusion for eligible orders in Raiku-led blocks, that commitment is governed by that agreement and remains subject to the applicable eligibility and operating conditions. Guaranteed inclusion does not guarantee price, trading outcome, profitability or final network confirmation. Automation does not eliminate market, configuration, network or counterparty risk. These website disclosures do not override an express service commitment in the applicable agreement.
3. Validator and staking risk
Validator performance. Staking rewards depend on the validators receiving delegated SOL. The validator set may include Raiku operated and independent validators. Downtime, reduced performance or technical failures may reduce rewards. Operating or selecting a validator is not a guarantee of its performance or the security of the wider network.
Slashing. Solana does not currently apply automatic protocol slashing penalties to staked SOL. Future protocol changes may introduce penalties or related mechanisms. Any slashing or other penalty that applies may reduce the SOL backing rkuSOL and its redemption value. Raiku gives no insurance or reimbursement undertaking under this website disclosure; any separate express agreement remains governed by its own terms.
Variable rewards and estimates. Staking rewards are variable and not guaranteed. They depend on protocol parameters, network activity, validator performance, commissions, pool fees and applicable reward mechanisms. Some factors are outside Raiku's control; relevant operators, including Raiku for a validator it operates, may set fees or other parameters within their authority. Displayed APY or APR figures are estimates subject to their stated date, source, methodology and fees. They do not guarantee a future return or a particular fiat value. Historical rewards are not a prediction of future rewards.
Priority fees and MEV. Validator economics may include priority fees and maximal extractable value ("MEV") tips. Their availability and distribution depend on network demand, validator software, protocol rules and the settings or policies of the relevant operators. These sources may decline or disappear. Raiku may influence settings for validators it operates but cannot guarantee network income or a particular amount reaching rkuSOL holders. Any amount accruing to a pool or holder is determined by the applicable mechanisms and terms, not by a general website description.
Potential additional rewards. Raiku intends to use revenue generated through Blackline or other corporate resources to fund additional rewards for eligible stakers or rkuSOL holders. As at the Last Updated date, that programme is not live and may not launch. Those rewards would be distinct from protocol staking rewards, would not be guaranteed and could be zero. They are not included in current reward figures unless separately identified as an illustration. The source of programme funding does not, by itself, give a holder an entitlement to a percentage of Blackline or Raiku revenue, trading profits or trading assets. Any future programme will identify its eligibility, calculation and payment rules before taking effect. Resource availability and programme decisions may affect future rewards; rights already accrued under binding terms or a declared payment remain governed by those terms and applicable law.
4. Liquidity, redemption and market price risk
Unstaking. Redemption of rkuSOL for SOL is subject to the mechanics of the Solana protocol and the Sanctum infrastructure, including any applicable unbonding period, withdrawal queue or fee. Redemption may be delayed, throttled or subject to fees during periods of stress. In extreme circumstances redemption may not be available at all for an extended period.
Secondary market. rkuSOL may be traded on third party decentralised exchanges and other venues. The market price of rkuSOL on such venues may deviate (including materially) from the value of the underlying staked SOL. Such deviation may be caused by illiquidity, market stress, forced selling, perceived counterparty risk or other factors. You may receive materially less SOL than expected when disposing of rkuSOL on secondary venues.
Liquidity on secondary venues. Liquidity may be limited or unavailable. The Site does not commit Raiku to maintain a secondary market, supply liquidity or support the price of rkuSOL. Available liquidity may be withdrawn. Any separate express liquidity commitment remains governed by its own agreement.
5. Custody and wallet risk
You are responsible for the security of the wallets and credentials you use. Loss of private keys, compromised devices, malicious approvals, phishing or similar events may cause irrecoverable loss. Raiku does not obtain wallet private keys through these website Services and cannot restore lost keys or reverse blockchain transactions.
Liquid staking is different from personal native delegation. Holding rkuSOL in your wallet does not mean that you personally control the withdrawal authority of every underlying stake account. Your position is in pooled staked SOL and is accessed through the relevant token and redemption mechanisms. Keeping your wallet keys does not remove stake pool, smart contract, liquidity or redemption risk.
6. Third party service risk
Sanctum. Leigon Ltd issues rkuSOL using liquid staking infrastructure provided through Sanctum. Minting, holding and redemption of rkuSOL, and operation of the relevant stake pool, depend on that infrastructure and the applicable onchain programmes. Raiku is not Sanctum and does not control Sanctum's independent operation, policies, smart contracts or continuity. Any failure, outage, change in policy or discontinuation of Sanctum's services may affect your ability to mint, hold, transfer or redeem rkuSOL. Your interaction with Sanctum is also subject to Sanctum's own applicable terms of service and privacy policy.
DeFi and other protocols. Using rkuSOL in lending, borrowing, trading or other protocols introduces additional risks, including liquidation, oracle failure, smart contract failure, governance changes and interaction between protocols. Those risks may compound. A listed integration describes availability or compatibility at the stated time, not a guarantee of safety, liquidity or suitability. Third party reward estimates and strategies are the relevant provider's statements unless Raiku expressly identifies a figure as its own published estimate. Raiku does not guarantee or backstop third party returns. Any separately funded Raiku additional reward would be governed by the programme described in Section 3, not treated as guaranteed protocol staking yield.
Bridges. If rkuSOL is bridged, wrapped or otherwise represented on any blockchain other than Solana, additional bridge specific risks apply, including the risk of loss of bridged assets due to bridge exploits or failures.
7. Regulatory and legal risk
Legal and regulatory treatment of rkuSOL, liquid staking, execution technology and decentralised finance is uncertain in some jurisdictions and may change. New rules or enforcement action may limit availability, use, marketing, transfers or liquidity, impose obligations or affect value. Website access is not a statement of eligibility. The additional rkuSOL country restrictions in Section 4 of the Terms apply to the rkuSOL offering and related promotional content, wherever located on the Site; applicable sanctions restrictions apply more broadly. General corporate content may be accessible where rkuSOL Materials are restricted. You remain responsible for the laws applicable to your activity, without displacing Raiku's own obligations.
8. Tax risk
The tax treatment of interacting with the stake pool, of minting, holding, transferring or redeeming rkuSOL, of staking rewards and of any use of rkuSOL in decentralised finance applications is complex, uncertain and varies by jurisdiction. Nothing on the Services constitutes tax advice. You are solely responsible for determining and meeting your tax obligations. You should consult your own qualified tax adviser before participating.
9. Governance, upgrade and discontinuation risk
Solana, Sanctum, the stake pool and other protocols may undergo upgrades, parameter changes, forks, governance decisions or discontinuation. These may affect assets, liquidity, rewards or access. Different parties control different elements. Raiku does not control the Solana network or independent providers, although it may control its own website, software and validator settings within its role.
Raiku may in its sole discretion modify, suspend or discontinue all or part of the Services at any time, including any content or information relating to rkuSOL. Discontinuation of the Services does not, by itself, affect the continued existence of rkuSOL on the Solana blockchain or your ability to interact with Sanctum or third party services, but may affect the availability of information about rkuSOL and about the validator set.
Network forks or consensus failure. Network outages, halts, forks, chain splits, reorganisations or contested state may prevent minting, redemption, trading or transfers, impair access to assets or rewards, or create uncertainty about the canonical chain and the value of rkuSOL. Validator execution is not the same as final network confirmation. Recovery depends on the relevant network and protocol participants and may not be available. No compensation is promised by this website disclosure.
10. Future tokens and airdrops
References to a proposed governance token, airdrop or token generation event do not grant eligibility or a right to receive a token. Any future offering would require its own applicable terms and disclosures and identification of the responsible entity. No timing, availability, value or eligibility is promised through these website materials. Do not stake or acquire rkuSOL in expectation of receiving a future token. This does not amend rights expressly granted in an existing separate agreement.
11. Information on the Services
Website information may be incomplete, outdated or inaccurate. Do not rely on it as your sole decision basis. Performance figures relate only to their stated sample, period and method; a detection to submission measure is not a confirmation or finality measure. Third party links and integration descriptions do not guarantee safety or future availability. Nothing in this disclosure permits misleading statements or excludes liability that cannot lawfully be excluded.
12. Acknowledgement
By using relevant Services, you acknowledge the risks applicable to that use. Activities involving digital assets may cause partial or total loss, and you should not participate unless able to bear that loss. This acknowledgement does not waive mandatory legal rights or rights under a separate agreement. Questions about this disclosure may be sent to [email protected].