Terms of Service
To connect your wallet to Contrax and farm, you must be legally an adult outside of an OFAC sanctioned territory, and agree to our Terms of Service.
Smart contract risks
DeFi protocols commonly experience loss of funds due to smart contract vulnerabilities. While Contrax has not yet conducted a security audit, we’ve taken reasonable measures to ensure the security of our code. We’ve forked most of our contract code from larger, more established products that have undergone multiple audits. We also have a live bug bounty program through Immunefi to ensure our contracts are fully hacker tested.
The Annual Percentage Yield (APY) represents the estimated growth of your LP position. It is based on trading fees and liquidity provider incentives, both of which can fluctuate over time in amount and price. Contrax is calculating the APY based on these externally provided values. We do not set the APY or guarantee its accuracy.
Wallet and Custody disclaimer
Contrax is a non-custodial platform and does not provide wallet services. We suggest using a Web3 wallet, such as MetaMask, for added security. If you use Web3Auth, ensure that you secure your social media account with two-factor authentication. Your key is tied to that social account, and whoever can access that account can access your crypto, including your Contrax farm positions.
Impermanent loss risks
In dual-token liquidity pools, impermanent loss occurs when one asset’s price changes relative to the other. Research and fully understand impermanent loss before depositing into these pools.
As a liquidity provider, your LP position is subject to the volatile price changes in the crypto market. Always research the platforms and tokens you farm.
Contrax offers stablecoin liquidity pools, but if a stablecoin de-pegs from its asset, it can result in extreme loss due to price and impermanent loss risks. Research stablecoins and the risks of de-pegging before participating in any stablecoin farm.
Blockchain and Cryptocurrency carry serious risks, whether used as a utility, artwork, or investment. Do your own research on blockchain and related technologies before using Contrax.
Contrax is currently in beta and has not finalized our fee model. At current, we collect 10% of the auto-compounded APY, which is a fraction of the total APY.