Risk disclosure

Last updated: 30 September 2026

1. Introduction

This Risk Disclosure describes the principal risks associated with buying, selling and holding digital assets, and with the kinds of services Zenvorika intends to offer when it launches. It is not a complete list of every possible risk, and the risks described may combine with one another in ways that are hard to predict.

Zenvorika is currently in pre-launch. No real trading takes place on the Website and no funds are accepted. We publish this disclosure now so that anyone using the practice account on the trading terminal or considering the future service understands what is involved. You should only ever commit money to digital assets that you can afford to lose entirely.

2. Price volatility

Digital asset prices can rise or fall sharply within minutes, and movements of tens of percent in a single day are not unusual. Prices are driven by supply and demand, sentiment, news, social media, the actions of large holders, technical events on the underlying networks and wider economic conditions. Many digital assets have no underlying earnings, cash flows or physical backing that anchor their value.

Past price performance is not a reliable indicator of future results. An asset that has risen strongly may fall just as strongly, and a price that has fallen may continue to fall.

3. Risk of losing all your capital

You may lose the whole of the amount you spend on a digital asset. Some assets have fallen to a small fraction of their former value, or become effectively worthless, after a project failed, was abandoned, was exploited or lost the confidence of its community. Trading frequently, or trading assets with small markets, can accelerate losses through fees and unfavourable prices.

No trading strategy, tool, indicator or interface feature can protect you from loss. Nothing Zenvorika provides should be taken as an indication that any return is likely.

4. Liquidity risk

Liquidity is the ability to buy or sell quickly at a price close to the last traded price. Liquidity varies widely between assets and can disappear suddenly, especially during periods of market stress. When liquidity is thin:

orders may be filled at prices significantly worse than expected (slippage);
large orders may move the market against you;
bid-ask spreads may widen sharply; and
you may be unable to sell at all for a period.

An asset may also be delisted from a trading venue, including a future Zenvorika market, which can make it harder to sell or convert.

5. Leverage and derivatives

Zenvorika does not offer margin trading, leveraged products, futures, options or other derivatives, and has no current plans to do so at launch. The practice account on the trading terminal does not offer leverage either. If you use leveraged products elsewhere, you should be aware that leverage magnifies losses as well as gains and can result in losses of your entire deposit within a very short time.

6. Technology and smart contract risk

Digital assets depend on software, networks and infrastructure that can fail. Risks include:

Protocol flaws: bugs or design weaknesses in a blockchain or token contract may be exploited, leading to theft, unexpected token creation or loss of value.
Smart contract risk: code that governs tokens, bridges and decentralised applications may behave in unintended ways, and transactions executed by such code are generally irreversible.
Network events: congestion can delay transfers and raise fees; forks can split a network into competing versions; and attacks on consensus can cause transactions to be reversed or censored.
Platform outages: any exchange, including Zenvorika after launch, may experience downtime, latency or errors that prevent you from placing or cancelling orders when you want to.
User error: sending assets to the wrong address or on the wrong network will usually result in permanent loss.
Cyber threats: phishing websites, fake apps and social engineering attempts frequently target digital asset users. Always check you are on zenvorika.com and never share recovery codes.

7. Stablecoin risk

Stablecoins aim to maintain a steady value, usually against a traditional currency, but that aim is not guaranteed. A stablecoin can lose its peg, temporarily or permanently, because of doubts about its reserves, a run of redemptions, operational problems at the issuer, failures in the mechanism that is supposed to keep its value stable, or action by authorities. Algorithmic stablecoins without full reserves have historically been especially vulnerable. Holding a stablecoin is not the same as holding cash in a bank account, and it may not be protected by any deposit guarantee scheme.

8. Staking and earn products

Zenvorika may in future consider offering staking or other reward-bearing products. If it does, those products will have their own terms and risk statements. In general, such products involve additional risks, including:

rewards that vary, are reduced or stop altogether, and are never assured;
lock-up or unbonding periods during which you cannot sell or withdraw, even if prices fall;
penalties ("slashing") imposed by a network when a validator misbehaves or goes offline, which can reduce the staked amount;
dependence on third-party validators or protocols; and
rewards paid in the same volatile asset, so a positive reward rate can still produce an overall loss in value.

9. Custody and counterparty risk

When you hold assets on any exchange, you rely on that exchange to keep them safe and to process withdrawals. Exchange-held assets may be exposed to hacking, internal fraud, operational mistakes or the insolvency of the exchange or its service providers. In an insolvency, account holders may be treated as unsecured creditors and may recover only part of their assets, or nothing, after a lengthy process.

Holding assets yourself in a self-custody wallet removes exchange risk but places full responsibility on you: if you lose your private keys or recovery phrase, nobody can restore access. When Zenvorika launches, details of how customer assets are held will be set out in the user agreement applicable to your account region. Digital assets held on an exchange are generally not covered by the protection schemes that may apply to bank deposits or traditional investments.

10. Legal and regulatory change

The legal treatment of digital assets is evolving and differs between places. New laws, regulatory decisions, tax changes or enforcement actions may restrict how digital assets can be bought, sold, held or used, may make particular assets or services unavailable in your region, and may affect prices across the market. A change of this kind could require an exchange to restrict services, delist assets or close accounts at short notice. You are responsible for understanding the rules, including tax obligations, that apply to you.

11. Third-party market data and practice trading

Prices, charts, 24-hour statistics, order books and recent trades shown on the Website are live market data loaded by your browser directly from Binance's public market-data API. Zenvorika does not operate that data source and cannot guarantee it. The data may be delayed, interrupted, incomplete or inaccurate, may stop updating without warning, and may differ from prices available on other venues or on a future Zenvorika market. It is provided for information only and is not an offer to trade at any price.

The practice account on the trading terminal uses virtual funds that have no monetary value. Orders placed there fill against live prices, but results do not reflect real trading, because:

real orders can suffer slippage, partial fills or no fill at all, while practice orders do not face real order-book competition;
real markets have liquidity constraints, so large orders may move the price against you;
fees, spreads and delays on a real exchange may differ from anything shown in practice trading; and
trading with real money involves emotional pressure, such as fear of loss, that virtual funds cannot reproduce.

Results in the practice account are not an indication of how you would perform with real money. Please do not make financial decisions based solely on market data or practice results shown on the Website.

12. Other risks

Market manipulation: digital asset markets can be affected by practices such as wash trading, spoofing and coordinated promotional schemes, which may distort prices and volumes.
Information risk: information about projects is often incomplete, promotional or inaccurate, and project teams may be anonymous.
Concentration: a small number of holders may control a large share of an asset's supply and can move its price significantly.
Irreversibility: most blockchain transactions cannot be reversed once confirmed, so mistakes and fraudulent transfers are rarely recoverable.

13. No advice

Zenvorika does not provide investment, financial, legal or tax advice, and nothing on the Website is a recommendation to buy, sell or hold any asset. We do not assess whether digital assets are suitable for you. Before acting, consider your own circumstances, do your own research and, where appropriate, consult an independent qualified adviser. For the general conditions of use of the Website, see our Terms of Use.

14. Contact

If you have questions about this Risk Disclosure, please contact us at legal@zenvorika.com.