Terms of Use

1. Who may use the Service

You may use the Service only if all of the following are true:

• you are at least 18 years old and old enough to enter a binding contract where you live;
• you do not live in, are not located in, and are not incorporated or registered in the United States of America or the province of Ontario, Canada;
• you do not live in, are not located in, and are not incorporated or registered in a country or region subject to applicable economic or trade sanctions or export controls (a “Sanctioned Territory”), and you are not a citizen of a Sanctioned Territory, wherever you are (the United States, Ontario and the Sanctioned Territories together are the “Restricted Jurisdictions”);
• you are not named on, owned or controlled by anyone named on, or acting for anyone named on a sanctions list kept by the United Nations, the European Union, the United Kingdom or the United States;
• using the Service is lawful for you where you are, and you will not hide where you are (for example with a VPN) to use it.

Leveraged trading and games involving money are restricted or prohibited in many places. Checking which rules apply to you is your responsibility. We may limit or refuse access from any place, to anyone, at any time, including by requiring an invite code.

2. What Manekora is

Manekora is a trading game on the HyperEVM blockchain. You mint a Maneki, a non-fungible token (NFT), by paying USDC. Each Maneki holds a game balance called Blood. With its Blood, a Maneki opens leveraged long or short positions on the prices of crypto assets (such as BTC and ETH) against one shared USDC pool, the “house”. Realized losses earn Energy, which can receive a share of later losses as Blood. Available Blood can be converted to USDC under the rules in the docs.

The game runs on smart contracts deployed on HyperEVM. The app and our backend are an interface to those contracts: every action that moves funds is a transaction your wallet signs on chain. Positions are settled in Blood against the house; no crypto asset is bought, sold or delivered for you, and prices are read on chain from Hyperliquid.

Manekora is not an exchange, broker, bank, custodian, investment adviser or payment service. Nothing in the Service is an offer of securities, investment, financial, legal or tax advice, or a recommendation to take any position.

3. Your wallet and account

You log in through Privy, a third-party service that creates and secures an embedded wallet for you (or connects one you already have). We do not have custody of your wallet, its private key or its assets, and we cannot recover them or reverse a transaction. Privy's own terms and privacy policy apply to your use of it.

While you are logged in, the app may ask your wallet to sign routine messages (such as signing in) and the transactions you start, without a separate confirmation window. Keep your login methods (email, social account, device) secure: anyone who can log in as you can use your wallet in the app. You are responsible for everything done with your login.

Your first sign-in creates an account with us, keyed to your wallet address. Access may require an invite code; an account that has access gets its own code to invite others. Invite codes and referral records are for the Service's growth: they carry no money value, and we may change or end them at any time.

4. Maneki, Blood and Energy

• A Maneki is an NFT you own through your wallet. Its Blood, Protected Blood, Energy and fee-free conversion allowance belong to the NFT and move with it when it is transferred or sold.
• Blood and Energy are game balances, not money. They are not deposits, electronic money, securities or claims against us. Nothing about their value is guaranteed.
• Available Blood converts at 1 Blood = 1 USDC before fees. Conversions use Protected Blood first; Blood above it converts only while the house has Profit Liquidity, which all players share on a first come, first served basis and which may never become available. Margin used by positions and pending orders is locked. Conversions stop during an emergency pause or a reserve deficit.
• Protected Blood is not a guarantee: it can be lost through trading. Departing a Maneki burns the NFT and its Energy and pays out its whole balance only when all of it can be converted at that moment.
• Energy cools at each UTC midnight (3% a day by default). Its share of losses depends on the house ratio and can be zero for long periods.

The exact rules are in the docs and in the contracts, which decide what happens on chain. If the docs and the contracts differ, the contracts' behavior is what you get.

5. Positions, prices and execution

• Opens and closes are requests. A keeper fills them after a short delay (about 5 seconds by default) at the price read on chain at that time, which can differ from the price you saw. Requests cannot be cancelled once sent; a request not filled in its window expires.
• Leverage can be up to 1000×. At that leverage a price move of about 0.05% against a position can liquidate it and remove its whole margin. Liquidation can happen at any time, including while you are offline.
• Settlements apply one by one in execution order, which may differ from the order you sent them, and this can change how much of your Blood stays protected.
• Limits apply to margin, position size, open interest, counts of positions and pending orders, and price deviation. New positions can be refused when a limit is reached or a price is invalid.
• If a market's prices stop, the market can be retired and its positions closed at the last valid price recorded on chain.

6. Fees

The contracts charge these fees, at the rates they hold at the time of your transaction:

• a mint fee of 2% of the USDC you pay to mint (the minimum mint is 50 USDC);
• a conversion fee (5% by default, and at most 10%) on Blood converted beyond the fee-free amount, which is the Blood the Maneki received at mint;
• a marketplace fee on each sale (currently 2%, and at most 5%), taken from the price the seller receives.

You also pay the blockchain's network fees (gas, in HYPE) and any fees charged by third parties, such as the cross-chain transfer services used for deposits and withdrawals. The app shows the amounts it knows before you confirm. We may change fee rates within the limits the contracts allow.

7. Deposits, withdrawals and free gas

Deposits from other blockchains and withdrawals to them are carried out by Relay, a third-party cross-chain service, under its own terms. We do not control it. A cross-chain transfer can be delayed, fail, be refunded on the sending chain or arrive as a different amount after fees and price changes. Funds sent to the wrong address, on an unsupported network or in an unsupported token may be lost for good. Minimum amounts apply.

We may send a small amount of HYPE to your wallet for gas when it runs low. This is discretionary, limited per account, wallet, IP address and day, and can stop at any time. You are not entitled to it, and abusing it (for example with several accounts) breaks these Terms.

8. Marketplace

The marketplace lets players sell Maneki to each other for USDC at a fixed price, through a contract that holds the Maneki in escrow until it sells or is withdrawn. We are not a party to these sales. A Maneki's value above its guaranteed conversion value depends on shared Profit Liquidity and is not reserved: pay above it only if you accept that risk. Sellers are responsible for their own prices and taxes.

9. Risks you accept

You understand and accept the risks described in the risks page and in these Terms, including:

• losing some or all of the USDC you put in, through trading, liquidation, fees or failures;
• profits that cannot be converted when you want, or ever;
• faults in the smart contracts, the app or our backend, including bugs that could be exploited by others;
• failures or delays of price feeds, keepers, the HyperEVM network, Hyperliquid, Relay, Privy or other services we rely on;
• changes made by those who control the contracts: the house contract can be upgraded by a multi-signature wallet we control, and its administrators can change settings within the contracts' limits and pause opens or conversions in an emergency;
• changes in law or regulation that limit or end the Service where you are;
• the volatility of crypto asset prices and of the value of Maneki and USDC.

10. What you must not do

You must not:

• break any law, or use the Service for money laundering, terrorist financing, fraud or sanctions evasion;
• use the Service from a Restricted Jurisdiction or for anyone who may not use it;
• manipulate prices or markets, or exploit a bug, error or delay instead of reporting it to us;
• create several accounts, use bots or share invite codes in bulk to abuse invite codes, referrals, free gas or other limited resources;
• attack, overload, scrape at scale, probe or disrupt the Service, or get around its rate limits, captchas or access controls;
• use the Manekora name, art or Maneki pictures in a way that suggests we endorse you, beyond what the section on intellectual property allows;
• help anyone else do any of these things.

Found a vulnerability? Tell us at contact@manekora.com and give us reasonable time to fix it before disclosing it.

11. Changes, pauses and suspension

We may change, pause or stop any part of the Service, add or remove markets, and change settings within the contracts' limits, at any time and without notice where safety or the law requires it. The contracts are permissionless: while the blockchain runs, they can be used directly even when our app is unavailable.

We may suspend or close your account, or block your access to the app, if we reasonably believe you have broken these Terms, created a legal or security risk, or if the law requires it. Suspension does not take away what your wallet holds on chain.

12. Third-party services

The Service relies on services we do not control, including Privy (login and wallets), Relay (deposits and withdrawals), Hyperliquid (prices), Pyth (randomness for Maneki traits), HyperEVM and its node providers, Cloudflare and Amazon Web Services (hosting). Their terms apply to your use of them, and we are not responsible for their availability, acts or omissions. Links to third-party sites and communities are for convenience only.

13. Intellectual property

The Service, the Manekora name and logos, the app, the docs and the Maneki art and pictures belong to us or our licensors. We give you a limited, personal, revocable, non-transferable licence to use the Service under these Terms.

Owning a Maneki gives you the NFT. While you own it, you may display its picture for personal, non-commercial purposes, such as a profile picture or sharing your results. Every other right stays with us.

14. Taxes

You are responsible for working out, reporting and paying any taxes that apply to your use of the Service.

15. Disclaimers

The Service is provided “as is” and “as available”. To the fullest extent the law allows, we disclaim all warranties, express or implied, including merchantability, fitness for a particular purpose, title and non-infringement, and any warranty that the Service, the smart contracts or any data will be accurate, secure, uninterrupted or free of errors.

16. Limitation of liability

To the fullest extent the law allows, we and our affiliates, officers, employees and contractors will not be liable for any indirect, incidental, special, consequential or punitive damages, or for any loss of profits, revenue, data, digital assets or goodwill, arising from or related to the Service, however caused. Our total liability for all claims related to the Service is limited to the greater of the fees you paid to us in the 12 months before the claim arose and USD 100.

Nothing in these Terms limits liability that cannot be limited by law, such as for fraud or for death or personal injury caused by negligence.

17. Indemnity

You will indemnify us and our affiliates, officers, employees and contractors against any claims, losses and costs (including reasonable legal fees) arising from your breach of these Terms, your breach of any law or of anyone's rights, or your misuse of the Service.

18. Governing law and disputes

These Terms and any dispute arising from them or the Service are governed by the laws of England and Wales, without regard to their conflict-of-law rules.

Tell us about any dispute in writing at contact@manekora.com within 30 days of when it arises, with your name, your email address, what the dispute is about and what you are asking for, and give us 30 days to try to resolve it informally. If it is not resolved, it will be finally settled by arbitration under the rules of the London Court of International Arbitration (LCIA), in English, in London, United Kingdom, by one arbitrator appointed under those rules. Each party bears its own costs unless the arbitrator decides otherwise. A claim that can be heard by a small claims court of England and Wales or another applicable jurisdiction may be brought there instead.

Arbitration is on an individual basis only: you and we each waive any right to bring or take part in a class or representative action. Where the law where you live does not allow these terms, they apply to the extent it does.

19. Changes to these Terms

We may change these Terms. Each version has the date shown at the top of this page. When we publish a new version, the app asks you to accept it at your next sign-in, and you cannot continue using the app until you do. If you do not accept a new version, stop using the Service; the contracts remain available on chain.

20. General

• These Terms and the Privacy Policy are the whole agreement between you and us about the Service.
• If any part of these Terms is found unenforceable, the rest stays in effect.
• Not enforcing a right is not a waiver of it.
• You may not transfer these Terms; we may transfer them to an affiliate or to a successor of the Service.
• These Terms are written in English. If we provide a translation, the English version prevails in case of any difference.
• The sections on risks, intellectual property, taxes, disclaimers, limitation of liability, indemnity and disputes survive the end of your use of the Service.

21. Contact

Questions about these Terms: contact@manekora.com.