Terms of Use

These Terms of Use (the “Terms”) govern your access to and use of the website at lockit.fun, its subdomains and any related user interfaces, APIs and tools (together, the “Interface”), operated by Lock It (the “Operator”, “we”, “us”). By accessing or using the Interface, connecting a wallet or submitting a transaction through it, you agree to these Terms and to our Privacy Policy. If you do not agree, do not use the Interface.

We may update these Terms from time to time. The “Last updated” date above shows when they last changed. Continuing to use the Interface after an update means you accept the updated Terms.

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

• you are at least 18 years old and have full legal capacity to accept these Terms;
• you are not a person or entity that is the target of economic sanctions (including those administered by the United Nations, the European Union, the United Kingdom or the U.S. Office of Foreign Assets Control), and you are not located in, organized in or ordinarily resident in a country or territory subject to comprehensive sanctions;
• using the Interface, trading digital assets or launching tokens is lawful for you in the place where you live and from which you access it;
• you are not using a VPN or any other means to circumvent restrictions we apply to certain jurisdictions.

We may restrict or block access to the Interface from any jurisdiction, wallet or person at our discretion.

The Interface is a front end that helps you build and submit transactions to a set of smart contracts deployed on the Solana blockchain: the launchpad, the locker and the fee router programs (together with the third-party programs they interact with, the “Protocol”). The Interface does not execute transactions itself; every transaction is signed in your own wallet and executed by the Solana network.

• Permissionless. Anyone can create a coin, trade, trigger the death check, unlock a dead coin or redeem, either through the Interface or directly on-chain. Automated “keeper” services, including ones run by us, call these permissionless functions but have no special rights.
• Rules are on-chain. Each coin stores a snapshot of its parameters when it is created. Those parameters cannot be changed afterwards by anyone, including us. Global parameters for future coins can be changed by the Protocol administrator after a public timelock.
• Irreversible. Blockchain transactions are final. We cannot cancel, reverse, refund or modify any transaction once it is submitted.
• Availability. We may change, suspend or discontinue the Interface at any time. The Protocol can still be used directly on-chain if the Interface is unavailable.

We never take custody of your assets. Funds held by the Protocol (curve reserves, locked liquidity positions, fee vaults, redemption vaults) are controlled exclusively by the smart contracts according to their code.

You are solely responsible for your wallet, private keys and seed phrase, and for every transaction you sign. We will never ask for your seed phrase or private key. Anyone asking for them is attempting to steal your assets.

Coins listed on the Interface are created by independent users. We do not create, issue, sponsor, review or endorse them, and their names, images, descriptions and social links are provided by their creators. A coin appearing on the Interface is not a recommendation.

Memecoins generally have no intrinsic value, no issuer obligations and no rights attached. Nothing on the Interface is an offer of securities, financial, investment, legal or tax advice, or a solicitation to buy or sell any asset.

With the default parameters (each coin’s actual parameters are shown on its page and stored on-chain):

• Bonding curve. New coins trade on a constant-product bonding curve. When all curve tokens are sold the coin “graduates”.
• Migration and lock. At graduation the raised SOL and the remaining tokens are added as liquidity to Meteora DAMM v2 pools, 90% against SOL and 10% against $LOCK (100% against SOL while the $LOCK pool is not enabled). The liquidity positions are held by the locker program instead of being burned.
• Death check. A coin becomes eligible to die only if it is older than 7 days and its combined trading volume stays below 2 SOL per day for 3 days. A public “last call” of 48 hours then starts; 2 SOL of trading during the last call revives the coin.
• Unlock and redemption. If the last call ends without revival, anyone can unlock the liquidity. Tokens returned from the pools are burned. Holders can redeem their tokens for a pro-rata share of a redemption vault equal to the amount all holders would jointly have received by selling into the pools (paid in SOL and, for 90/10 coins, in $LOCK). Redemption stays open for 30 days.
• Dead pot. The rest of the withdrawn liquidity, plus anything not redeemed in time, is split 30% to the coin’s creator and 70% to buying back $LOCK.

• Bonding curve trades: 1.25% of each trade (0.3% to the coin’s creator or their fee recipients, 0.95% to the Protocol).
• After migration: pool trades pay the AMM fee (0.5% by default, part of which is kept by Meteora). Fees earned by the locked positions are split 24% to the creator and 76% to the Protocol.
• Migration: up to 0.08 SOL of the raised SOL pays for pool accounts; any unused amount goes to the Protocol.
• Network fees: you pay Solana transaction fees and any priority fees for every transaction.

A share of Protocol revenue and of every dead pot is used to buy back $LOCK. Bought-back $LOCK is held by the fee router program under its configured rules. Holding $LOCK gives no ownership, dividend, profit-sharing or governance rights in the Operator or the Protocol.

When you create a coin you are responsible for its name, ticker, image, description and links (“Content”). You confirm that you own or have the right to use the Content and grant us a worldwide, royalty-free licence to host, display and distribute it through the Interface. Content you submit may be published permanently on public networks (such as IPFS, Arweave and the Solana blockchain) and cannot be deleted from them.

You must not submit Content that:

• is illegal, including any sexual content involving minors, which we report to the competent authorities;
• infringes intellectual property, privacy or publicity rights, or impersonates a person, brand or project;
• promotes violence, hatred, harassment, terrorism or self-harm;
• is designed to defraud or mislead (for example fake affiliations, fake audits or promises of returns);
• contains malware, phishing links or links to wallet drainers.

Uploaded images may be scanned automatically. We may refuse, hide or delist any coin or Content from the Interface at our discretion. This does not affect the coin on-chain.

• manipulating markets, including spoofing, pump-and-dump schemes, or wash trading intended to mislead others;
• exploiting bugs or vulnerabilities in the Interface or the Protocol instead of reporting them responsibly;
• laundering money, financing terrorism or evading sanctions;
• interfering with the Interface, including denial-of-service attacks, scraping that degrades service or attempts to access non-public systems;
• using the Interface on behalf of a person who is not allowed to use it under these Terms.

By using the Interface you acknowledge and accept, among others, the following risks:

• Volatility and total loss. Memecoin prices can fall to zero quickly. Only use funds you can afford to lose entirely.
• Smart contracts. The Protocol may contain bugs or vulnerabilities despite testing and audits, and its upgradeable parts may change according to the Protocol’s governance process.
• Third parties. The Protocol relies on software we do not control, including Meteora DAMM v2, Metaplex Token Metadata, the Solana network, price oracles, RPC providers and wallets. Their failure, change or compromise may cause losses.
• Execution. Trades may be front-run or sandwiched, fail, or execute at a worse price within your slippage settings. Network congestion may delay transactions.
• Regulation and tax. Laws on digital assets are evolving and may restrict your use of the Interface. You are responsible for determining and paying any taxes on your activity.

When the Interface shows “Demo mode”, all coins, prices, charts, balances and transactions are simulated in your browser. The demo wallet holds no real assets, nothing is sent to the blockchain, and demo results say nothing about real outcomes.

The Interface, including its design, text, graphics and the Lock It name and logo, is owned by the Operator or its licensors. Open-source components are licensed under their own licences. Except for those licences, you may not copy, modify or redistribute the Interface without our permission.

The Interface and the Protocol are provided “as is” and “as available”, without warranties of any kind, whether express, implied or statutory, including warranties of merchantability, fitness for a particular purpose, non-infringement, accuracy or uninterrupted availability. Data shown on the Interface (prices, volumes, death meters, redemption estimates) may be delayed or inaccurate; the on-chain state is authoritative.

To the maximum extent permitted by law, the Operator and its affiliates, contributors and service providers will not be liable for any indirect, incidental, special, consequential or punitive damages, or for any loss of profits, tokens, data or goodwill, arising from your use of or inability to use the Interface or the Protocol. Our total aggregate liability for any claim will not exceed USD 100.

You agree to indemnify and hold harmless the Operator from any claims, losses and expenses (including reasonable legal fees) arising from your use of the Interface, your Content or your breach of these Terms or of any law.

Nothing in these Terms limits liability that cannot be limited under applicable law.

We may suspend or terminate your access to the Interface at any time, without notice, if we believe you have breached these Terms or to comply with the law. Sections on fees, Content licences, risks, disclaimers, limitation of liability, indemnity and governing law survive termination.

These Terms are governed by the laws of the jurisdiction in which the Operator is established, without regard to its conflict-of-law rules. Before starting any formal proceedings, you agree to contact us at legal@lockit.fun and try to resolve the dispute informally for at least 30 days.

If any provision of these Terms is held invalid, the remaining provisions remain in effect. Our failure to enforce a provision is not a waiver of it.

Questions about these Terms: legal@lockit.fun. Security vulnerabilities: please report them responsibly to the same address before disclosing them publicly.