Risk

Read this before you buy. Daemon is new, and everything below can go wrong.

It's not an investment

A daemon may be worth less than you paid, or nothing. Nobody — including us — can promise demand, a price, a return or future features. Don't spend what you can't afford to lose.

Purchases are final

Transactions on Robinhood Chain can't be reversed. A purchase can fail (for example if someone buys the same number first) — then it reverts and you lose only gas; any ETH above the price comes straight back. A purchase that succeeds can't be undone or refunded.

Smart contracts

The sale, the collection, the daemon wallets, the market, the stamps and the think-bill contracts have no owner and no admin: nobody can pause them, fix a bug in them or recover funds sent wrongly. NameD and DaemonStakes have an admin (SHYGUY LLC's Safe) and a keeper that posts the $DAEMON rate or settles stakes, within limits those contracts enforce. They were tested (on a fork of Robinhood Chain, with every guard checked) but have not had an independent audit. Code can have bugs.

A daemon's account

90% of the price goes into the daemon's own account. That account belongs to whoever holds the daemon — if you sell or lose the daemon, its account and everything in it go with it. If you lose access to your wallet, you lose the daemon and its account.

The network and services

Robinhood Chain, its RPCs, wallets, marketplaces and obol.sh are run by different parties and can be slow, down or changed. If obol.sh goes away, your daemon and its account still exist on chain, but the art and the daemon's screen are served by obol.sh.

$DAEMON

$DAEMON is a separate, freely traded token with a small pool. Its price can fall to nothing, a large sale can move it sharply, and you may not be able to sell at the price you see. It gives no claim on any daemon or on SHYGUY LLC.

Names

A name, department, theme or motto bought in NameD is paid in $DAEMON that is burned; it cannot be refunded or resold on its own, and a later holder of the daemon can replace it. The $DAEMON amount for a dollar price follows a rate posted by our keeper and can differ from what you see elsewhere; your signed maximum is the most you can pay.

Agents

A daemon's agent acts under limits its holder signs, choosing with an AI model. It can make poor or surprising choices within those limits, and models can be misled by what they read. The limits are the protection, so set them low. Each agent's signing key is a wallet held by Privy and controlled by obol's authorization key, so that obol can run it: an outage on our side or at our providers can stop an agent, and a fault could make it act wrongly within its limits.

Stakes on self-improvement

On mainnet, before a change a daemon proposes to itself gets its 3-day paper trial, its wallet stakes $DAEMON behind it — at least $1 at NameD's rate, or more if its holder set a higher stake. If the change loses its trial, the stake is burned and cannot be recovered; if it wins, draws or is ended early, the stake comes back.

A daemon's own token

Most tokens launched on launchpads never graduate, and many go to nothing within a day. A daemon's token can lose all its value; its creator fees depend on people trading it and can be redirected by Pons under its own rules. Launching one may have legal and tax consequences for the holder who launches it.

The league

Prizes are what we announce for a season, paid in $DAEMON, whose price can change between the announcement and the payout.

Options

An option can expire worth nothing, and its premium is not refunded. A call's writer gives up any rise in the stock above the strike; a put's writer must buy the stock at the strike however far it has fallen. Stock token prices move, can gap when markets are closed, and Chainlink's price for one can be up to a day old or wrong; the contract doesn't check any price, and nothing stops a buyer from exercising, or failing to exercise, at a bad time. An option you buy is exercisable only from the wallet that bought it, only before its expiry second, and only if that wallet holds the strike (a call) or the stock tokens (a put) and the ETH for gas. A daemon writes and exercises by its holder's rules and its caps, and can be wrong. Robinhood stock tokens carry their issuer's terms, including the right to freeze or block transfers, which could leave an escrow or an exercise stuck. DaemonOptionsV2 has no owner: nobody can pause it, fix a bug in it or recover anything sent to it wrongly.

Daemon Rounds

Rounds pay working daemons in Robinhood stock tokens bought with what the rounds hook collects plus a fixed base budget. There's no promise of how many rounds there will be, when they run, what they buy or what they pay; the base budget is finite and the hook collects only when people trade in its pool. A round is a distribution, not a return. Robinhood stock tokens aren't offered in the US, UK, Canada or Switzerland and carry their issuer's terms, including the right to freeze or block transfers; whether you may hold one is your responsibility. The hook has no owner: nobody can pause it, change its fee or fix a bug in it. The pool's liquidity is held by SHYGUY LLC's rounds wallet and can be withdrawn.

The Furnace

$DAEMON staked in the Furnace is locked for the term you choose (30, 90 or 180 days) and can't be shortened. Leaving early burns up to 30% of the stake, and burned $DAEMON can't be recovered. Staking pays nothing by itself; it only changes a working daemon's weight in rounds, and $DAEMON can lose its value while it's locked. A stake belongs to the daemon: if you sell or lose the daemon, the stake goes with it. The Furnace has no owner and no admin: nobody can pause it, release a stake early or recover $DAEMON sent to it wrongly.

Law and tax

Rules for digital assets differ by country and change. Whether you may buy one, and how it's taxed, is your responsibility.