Aviso de Risco

AUQIX — Risk Disclosure Statement (DRAFT v0.1)

STATUS: Initial structural draft prepared by Product Management. NOT LEGALLY REVIEWED. All clauses marked [TODO-LAWYER: ...] require validation by qualified counsel before any public use. This document is intended to be a standalone disclosure presented at signup, with separate explicit acceptance (checkbox + IP + timestamp).

ESTADO: Rascunho estrutural inicial. NÃO REVISADO JURIDICAMENTE. Cláusulas com [TODO-LAWYER: ...] requerem validação. Documento standalone com aceite explícito separado no signup.

Effective Date / Data de Vigência: [TODO-LAWYER] Last Updated / Última Atualização: [TODO-LAWYER]

0. CRITICAL DISCLOSURES — READ CAREFULLY / AVISOS CRÍTICOS — LEIA COM ATENÇÃO

THIS IS NOT INVESTMENT ADVICE.

AUQIX provides software that automates a publicly disclosed algorithmic strategy. AUQIX is NOT a registered investment advisor, broker, fund manager or fiduciary in any jurisdiction. Nothing in the Service, the dashboard, the backtest, the documentation or any communication constitutes financial, investment, legal, tax or accounting advice.

YOU MAY LOSE 100% OF THE CAPITAL YOU DEPOSIT.

Decentralized finance (DeFi) is a high-risk, experimental activity. Past performance — including the publicly disclosed 270+ day backtest of the SM3 strategy — is NOT indicative of future results. The historical 4.47%/month average return may not be achieved going forward, and you may experience significant losses.

DO NOT DEPOSIT CAPITAL YOU CANNOT AFFORD TO LOSE.

[TODO-LAWYER: assess if this disclaimer is sufficient for CVM Parecer 40/2022 and Marco Legal dos Criptoativos. Consider adding "self-directed activity" framing.]

1. Purpose of This Statement / Finalidade Deste Documento

This Risk Disclosure Statement ("Disclosure") supplements the AUQIX Terms of Service and Privacy Policy. By accessing or using the Service, you affirmatively acknowledge that you have read, understood and accepted each of the risks set forth below.

Your acceptance is captured via:

• A dedicated checkbox at signup (separate from Terms of Service acceptance);
• IP address and timestamp logged in our audit trail;
• A SIWS-signed message confirming receipt.

[TODO-LAWYER: confirm whether separate Risk Disclosure acceptance (vs blanket ToS acceptance) strengthens informed-consent defense under CDC]

2. Nature of the Service / Natureza do Serviço

2.1 Software, Not Advice

AUQIX is a software-as-a-service platform. The Bot executes a publicly disclosed algorithmic strategy ("SM3") on the User's Sub-wallet. The strategy is rule-based, not discretionary. No AUQIX employee or contractor makes trading decisions on the User's behalf.

2.2 User-Initiated, User-Maintained

• The User deposits capital voluntarily into the Sub-wallet.
• The User can withdraw at any time via "Withdraw All" or via the seed backup.
• The User bears all market risk of their capital.

2.3 No Guarantee of Profit

AUQIX makes NO guarantee that the Service will be profitable for any User in any period. The backtest provided at auqix.com/strategy represents historical simulation under specific market conditions and is not a forecast.

3. Risk of Total Loss / Risco de Perda Total

You may lose 100% of your deposit. Reasons include but are not limited to:

• Smart contract exploit of Orca Whirlpool draining the liquidity pool;
• USDC or USDT depeg event (e.g., March 2023 USDC depeg to $0.87);
• Catastrophic SOL price crash that exits the position with maximum impermanent loss;
• Compromise of Privy infrastructure (low probability but non-zero);
• Compromise of Solana validators (extremely low probability);
• Black swan macroeconomic event affecting all of crypto.

There is no government insurance, no FDIC, no SIPC, no FGC (BR), no equivalent guarantor that protects DeFi deposits.

4. Smart Contract Risk / Risco de Smart Contract

The Bot interacts with the following on-chain protocols:

No smart contract is provably bug-free. Audits reduce but do not eliminate risk.

[TODO-LAWYER: assess if linking specific historical incidents (Curve, Euler) is wise legally — informational, but may set unrealistic expectation that AUQIX guards against named incidents only]

5. Impermanent Loss (IL) in Concentrated Liquidity / Perda Impermanente em Liquidez Concentrada

5.1 What is IL

When you provide liquidity in a concentrated AMM pool (like Orca Whirlpool), your USDC and SOL are rebalanced automatically as the price moves. If SOL price moves significantly outside your chosen range, your position ends up holding only the depreciated asset, and you experience a loss compared to simply holding SOL or USDC.

5.2 Example

Hypothetical: User deposits $1,000 in a SOL/USDC LP at SOL price = $200 with range $195-$210.

• If SOL falls to $190 (below range): position is 100% SOL at depressed price. Holding without LP would have been less painful.
• The fee income during the in-range period may not offset the IL.

[TODO-LAWYER: review numerical example for accuracy and disclaimer attached]

5.3 SM3 Mitigations Are Not Guarantees

The SM3 strategy includes regime filters (SMA 30h, weekly trend) intended to avoid bearish markets, take-profit and stop-loss logic, and a trailing exit. These mitigations reduce but do not eliminate IL risk. Backtests show losing trades and drawdowns are inevitable.

6. Solana Network Risk / Risco de Rede Solana

The Solana blockchain has experienced multiple network outages historically:

• January 2022 — 18 hour outage;
• May 2022 — 7+ hour outage;
• June 2022 — 4+ hour outage;
• September 2022 — 7+ hour outage;
• February 2023 — 19+ hour outage;
• April 2024 — congestion event, ~30% transaction failures.

During outages or severe congestion:

• The Bot cannot submit transactions.
• Stop-loss and take-profit cannot be enforced.
• A position may remain open during adverse price movement.
• Users cannot manually exit via dashboard, Phantom or any other means until the network recovers.

[TODO-LAWYER: explicit disclaimer that AUQIX is not liable for losses during Solana outages — link to §10 Limitation of Liability in ToS]

7. Strategy Risk / Risco de Estratégia

7.1 Backtest Limitations

The publicly disclosed 270+ day backtest of the SM3 strategy uses historical data and simulated execution. Limitations include:

• Slippage assumptions may not reflect future market conditions;
• Fee rates (BASE_YIELD calibration) are based on historical pool yields;
• Liquidity assumptions may not hold at higher AUM levels;
• Path dependence — different starting capital, timing or pool conditions produce different outcomes;
• Survivorship bias — backtest is on the surviving pool with most volume; smaller or failed pools are not represented;
• Future market regimes may differ from history.

7.2 No Forward Guarantee

A strategy that achieved 4.47%/month in backtest may achieve substantially different returns going forward, including sustained negative returns. The strategy was validated under specific 2025-2026 market conditions; future regimes may invalidate it.

7.3 Strategy Changes

AUQIX may modify the strategy parameters (range width, SMA period, stop-loss threshold) without advance notice if such changes are necessary for the Service's continued operation. Material changes will be disclosed via dashboard banner.

[TODO-LAWYER: assess "may modify without notice" language; consumer protection may require notice and right to cancel]

8. Third-Party Service Risk / Risco de Terceiros

8.1 Privy (Custody)

• Privy holds private keys in AWS Nitro Enclaves with Shamir Secret Sharing.
• Privy is SOC 2 Type II certified with bug bounty and quarterly audits.
• Risk: a Privy outage of > 24h would prevent the Bot from signing transactions. The User retains access via the seed backup received at onboarding.
• Risk: compromise of Privy infrastructure could expose Sub-wallet keys. Mitigation: HSM design, multi-party computation.
• AUQIX is not liable for failures or compromises at Privy. [TODO-LAWYER: ensure ToS §10 covers this]

8.2 Direct-Debit Billing (via Privy)

• AUQIX charges the $15 monthly subscription and the 15% performance fee directly from your Sub-wallet via Privy server-signed USDC transfers (no third-party payment processor).
• Risk: insufficient USDC reserve in the Sub-wallet at billing date may leave the Account in PENDING_PAYMENT state until the User tops up the reserve.
• Risk: a Privy signing outage (see §8.1) would delay scheduled debits.
• AUQIX is not liable for Privy outages affecting billing windows.

8.3 Supabase (Database)

• Account data and audit logs are stored in Supabase (US-East).
• Risk: Supabase outage affects dashboard access; the Bot continues operating using cached state.
• Risk: Supabase breach could expose Account data (NOT Sub-wallet keys — those are at Privy).

8.4 RPC Providers (Helius, QuickNode)

• The Bot uses RPC providers to read chain state and submit transactions.
• Risk: RPC outage or rate-limiting reduces Bot responsiveness, potentially missing optimal entry/exit.

8.5 Resend, Vercel, Plausible, Cloudflare

• Standard cloud infrastructure; outages may degrade service quality.

9. Crypto Volatility / Volatilidade de Cripto

SOL has historically demonstrated extreme volatility:

• November 2021: $260 peak;
• December 2022: $8 trough (-97% drawdown);
• January 2024: $100+ recovery;
• 2025-2026: $150-$250 range with intra-day moves often exceeding 5%.

USDC, while a stablecoin, has experienced de-peg events:

• March 2023 (Silicon Valley Bank exposure): USDC fell to ~$0.87 for 48 hours.
• A similar event during an active LP position would cause significant loss.

10. Regulatory Uncertainty / Incerteza Regulatória

10.1 Brazil

• The Marco Legal dos Criptoativos (Lei 14.478/2022) is in force, but BCB regulations defining VASP licensing requirements are pending.
• The CVM Parecer de Orientação 40/2022 establishes that crypto-assets are not securities by default, but classification is case-by-case.
• Future regulatory changes may require AUQIX to suspend service, impose KYC, or modify the fee structure.

10.2 International

• The EU's MiCA regulation (in force since 2024) imposes obligations on crypto-asset service providers; AUQIX restricts EU users pending classification analysis.
• US SEC enforcement actions against DeFi protocols are ongoing; AUQIX restricts US users.
• Singapore, UAE and other jurisdictions are developing or have adopted licensing frameworks.

10.3 What This Means for You

• AUQIX may be required to suspend service in your jurisdiction with limited notice.
• You remain responsible for compliance with all laws applicable to you, including tax reporting.
• Regulatory action against AUQIX could result in temporary or permanent inability to access the Service.

[TODO-LAWYER: validate language; suggest defensive position that AUQIX will cooperate with lawful regulatory inquiries]

11. Operational Risk / Risco Operacional

11.1 Bot Bugs

Software bugs may cause:

• Sub-optimal entry/exit timing;
• Incorrect range calculation;
• Failed transactions due to invalid instruction construction;
• Misreading of pool state.

AUQIX maintains 1,873+ automated tests and rigorous code review; however, no software is bug-free.

11.2 Cooldown

The SM3 strategy enforces a 4-hour cooldown between trades to avoid overtrading during ranging markets. This may cause the Bot to miss otherwise profitable entries.

11.3 Force Majeure

See Terms of Service §15 (Force Majeure). Catastrophic events affecting providers, networks, or infrastructure may interrupt service without recourse.

12. Tax Responsibility / Responsabilidade Tributária

The User is solely responsible for:

• Reporting income and capital gains in their jurisdiction;
• Brazil: complying with IN RFB 1.888/2019 (DeCripto monthly declaration when monthly volume > R$ 30K);
• Brazil: declaring income tax on gains;
• Other jurisdictions: complying with local equivalents.

AUQIX does NOT withhold taxes, issue 1099s, W-2s, IRPF declarations or any tax form. AUQIX provides exportable transaction history for the User's tax preparation.

[TODO-LAWYER: review tax disclaimer for BR users; consider also CRS / FATCA disclosures if international users grow]

13. No Custody Insurance / Sem Seguro de Custódia

• The Sub-wallet held at Privy is not insured by any government, central bank or industry program.
• AUQIX does not maintain custody insurance covering User funds.
• A compromise of Privy or Solana would result in losses borne solely by the User.

[TODO-LAWYER: review if maintaining a SAFU-style reserve fund is advisable for liability mitigation; not in MVP roadmap]

14. Specific Acknowledgments / Reconhecimentos Específicos

By accepting this Disclosure, you specifically acknowledge:

• I understand that I may lose 100% of the capital I deposit.
• I understand that past performance does not guarantee future results.
• I understand that the AUQIX strategy is publicly disclosed and I have reviewed it at auqix.com/strategy.
• I understand that AUQIX is not an investment advisor or fiduciary and provides no investment advice.
• I understand that I am solely responsible for tax compliance in my jurisdiction.
• I understand that DeFi protocols can be exploited or fail, and AUQIX is not liable for such failures.
• I understand that Solana network can experience outages, during which the Bot cannot operate.
• I confirm I am not a resident or citizen of the United States, United Kingdom or any OFAC-sanctioned jurisdiction.
• I confirm I am at least 18 years old and have legal capacity to enter into this agreement.
• I am depositing capital that I can afford to lose entirely.

[TODO-LAWYER: assess if granular acknowledgments improve enforceability vs aggregate checkbox; recommend granular for informed consent defense]

15. Contact / Contato

Questions about this Disclosure:

• Email: legal@auqix.com
• Website: https://auqix.com

16. Language / Idioma

This Disclosure is drafted in English. A Portuguese reference translation is provided. In case of conflict, the English version prevails. [TODO-LAWYER]

END OF DRAFT v0.1 — All [TODO-LAWYER: ...] markers must be resolved before publication. Sections 0 (Critical Disclosures), 3 (Total Loss), 7.3 (Strategy Changes), 10 (Regulatory), and 14 (Specific Acknowledgments) are the highest-priority items for legal review.