Risk notes

Tokenized equities track assets whose prices move, sometimes sharply and sometimes against a position you cannot exit at the price you expect. Liquidity is not guaranteed: a book can be thin, a spread can widen, and a large order can fill materially worse than the top of the book. Leverage is not offered here, but a concentrated position is still a concentrated risk.

Crossbook is a prototype. It has not been audited or independently reviewed, it may contain defects, and its behaviour can change between builds. Treat everything it shows as illustrative.

Orders placed here are matched by a local engine against generated liquidity. The prices, fills, balances and profit and loss are not records of trades and carry no economic meaning. Reproducing them on a real venue is not possible, because the market they trade against does not exist. See Market data.

No transaction is signed or broadcast in this build. If a future build connects to deployed contracts, that changes: a submitted transaction cannot be recalled, a mistaken price or size cannot be undone, and there is no support desk that can reverse a settled trade.

Review every transaction before signing: the contract being called, the asset, the size, the price and any limit. If a wallet prompt does not match what the interface showed you, do not sign it.

A production deployment of this design would carry the usual risks of onchain systems: contract defects, upgrade and administrative powers, oracle or reference-price failures, network congestion affecting whether an order or a cancellation is included in time, and front-end compromise. None of these apply to a build with no contracts, and all of them would apply to one with contracts.

Tokenized equities are subject to rules that differ by jurisdiction and that continue to change. Nothing here is a claim that this design, or trading tokenized equities generally, is permitted where you are. Working out what applies to you is your responsibility.

This build holds nothing: there is no deposit, no custody and no withdrawal. A production deployment of this design is intended to be self-custodial, which moves the responsibility for key management to you — losing a key means losing access, and no one can restore it.