Node Wallet - Perps Terms and Risk Disclosure

1. What Perps Is

Perps lets you trade perpetual futures on BTC, ETH and WLD from inside Node Wallet. Orders are executed on Hyperliquid, a third-party exchange that Node Wallet does not operate or control. Node Wallet is a software interface: it does not execute, clear or settle trades, and it does not hold your positions or funds.

2. Eligibility and Restricted Regions

Perps is not available to persons located in, or residents of: the United States and its territories (including Puerto Rico, Guam, the U.S. Virgin Islands, American Samoa, the Northern Mariana Islands and the U.S. Minor Outlying Islands); the province of Ontario, Canada; Cuba; Iran; North Korea; Syria; or the Crimea, Donetsk and Luhansk regions of Ukraine. It is also not available to anyone subject to sanctions, or where using it would be unlawful.

To enforce this, we check the approximate location of your connection (country and region) and screen wallet addresses against sanctions lists before activation and from time to time after. You must not use a VPN or other means to hide your location. If you become ineligible, for example while travelling, your account is limited to closing positions, cancelling orders and withdrawing.

3. Your Trading Account Is Self-Custodial

When you activate Perps, the app creates a separate trading key on your device. The address of that key is your trading account on Hyperliquid. The key is encrypted on your device using a key derived from a World App signature of a fixed message, and only that encrypted copy is stored on our servers. We cannot decrypt it, move your funds, reverse your trades or recover the key for you.

Day-to-day orders are signed by a separate device key that is valid for up to 180 days and cannot withdraw funds. Setting up a device, renewing its access, withdrawing and exporting your recovery phrase each need a World App signature.

4. Recovery Phrase and the Risk of Permanent Loss

You can export your trading key as a 24-word recovery phrase. Anyone who has the phrase controls your trading account and can take its funds, so never share it and keep it offline.

If you lose your phone, World App gives you a new signing key (for example after a reinstall or an account recovery), and you have not exported your recovery phrase, your trading account and the funds in it cannot be recovered by you or by us.

The app reminds you to back up above a set account value. You remain responsible for keeping your phrase safe.

5. Fees

The trading fee is 0.145% per trade, including Hyperliquid's fee, charged on the notional value of each order. It uses Hyperliquid's standard fee rate; if Hyperliquid gives your account a lower rate, you pay less. You approve Node Wallet's part of this fee once, and Hyperliquid rejects any order that tries to charge more than you approved. Open positions also pay or receive funding. Deposits and withdrawals use a third-party bridge (Relay), which charges its own fee; the estimate is shown before you confirm. Fees shown before a trade are estimates.

6. Deposits and Withdrawals

Deposits move USDC from your wallet on World Chain to your trading account on Hyperliquid, and withdrawals move it back, through Relay. The minimum deposit is 10 USDC, and deposit and account limits may apply. Transfers usually take under a minute but can be delayed, refunded or, in rare cases, fail at the bridge. The app checks every bridge quote against fixed addresses before you sign. If the app closes during a withdrawal, it is never re-sent automatically; you choose whether to resume it.

7. Risk Disclosure

• Perpetual futures are leveraged and highly risky. Leverage of up to 10x multiplies both gains and losses. You can lose all the funds in your trading account.
• Positions use isolated margin and can be liquidated when the market moves against you, which can happen very quickly.
• Funding payments can reduce your balance while a position is open.
• Market orders can fill at a worse price than shown (slippage), up to the limit the app sets. Prices, liquidation prices and fees shown before a trade are estimates.
• Hyperliquid, Relay, World App or World Chain may be unavailable, delayed, changed or exploited. Node Wallet does not control them and is not responsible for their outcomes.
• We may switch Perps to close-only or maintenance mode, or pause new positions, deposits or activations. Where technically possible, closing, cancelling, withdrawing and exporting stay available.
• Crypto assets are volatile and may lose value. Regulation of crypto derivatives may change.

8. No Advice

Node Wallet does not provide investment, financial, legal or tax advice. You decide whether a trade is right for you.

9. Privacy

Perps processes additional information, described in the Privacy Policy.

10. Contact

For questions about Perps, contact support@nodewallet.io.