Terms of Service

Parquet is software for interacting with a set of permissionless Solana programs. By connecting a wallet, signing transactions, or otherwise using any Parquet-branded interface, indexer, API, or program, you agree to these terms. If you do not agree, do not use Parquet.

No warranties

Parquet is provided on an as-is, as-available basis without warranties of any kind, express or implied. There is no warranty of merchantability, fitness for a particular purpose, accuracy, availability, or non-infringement. The smart contracts may contain bugs, unintended behavior, or vulnerabilities that result in total loss of deposited funds.

Total loss is possible

Perpetual contracts, leverage, liquidity provision, oracle updates, and on-chain settlement can result in the total loss of any USDC or other assets you deposit, stake, or use as collateral. You assume all risk of loss, including losses arising from oracle staleness or disagreement, queued payouts, liquidations, smart-contract bugs, counterparty pool exhaustion, off-hours pricing regimes, RPC failures, frontend errors, keeper outages, funding-rate movements, and adverse market conditions. Do not use funds you cannot afford to lose.

Your responsibility to verify

You are solely responsible for verifying every transaction you sign. Before signing, confirm the connected cluster (devnet vs mainnet-beta), the connected wallet address, the program IDs being invoked, the token mints involved, the instruction data, and the accounts referenced. The canonical program IDs and USDC mints are published on our public documentation site at docs.parquet.exchange. Mistaken transactions on a permissionless blockchain are typically irreversible.

No advice, no recommendations

Nothing displayed on any Parquet interface, documentation site, or API response constitutes financial, investment, legal, tax, or trading advice. Market data, funding rates, leverage tiers, queue positions, leaderboards, and price charts are informational only. You are responsible for your own trading decisions and for understanding the products you trade.

Eligibility

You represent that you are of legal age to enter into binding contracts where you reside, that you have the legal authority to use leveraged derivative software, and that your use of Parquet does not violate any rules that apply to you. You are responsible for determining whether you may lawfully access and use the protocol.

Immutable, permissionless software

The Parquet programs are deployed to a public, permissionless blockchain. Anyone can read program state and anyone with a wallet can submit transactions to them. Program behavior is governed by the deployed bytecode, not by any interface or documentation. Where Parquet programs are upgradeable, upgrade authority is held by the protocol operator; where they are not, the on-chain code is the final word.

Availability, degradation, and pauses

The Parquet frontend, indexer, price relayer, keeper, RPC providers, websocket data feeds, oracle feeds, and underlying blockchain can be degraded, paused, throttled, unavailable, or incorrect at any time, with or without notice. There is no guarantee of uptime, latency, fill quality, queue progression, liquidation timing, oracle freshness, or data accuracy. Markets may be added, removed, or rendered inert (no working oracle feed so opens revert) without notice. Off-hours pricing is sourced from a third-party perp DEX and may deviate materially from where the underlying instrument would trade during regular market hours.

Fees and parameters may change

Trading fees, funding rates, liquidation fees, initial-margin requirements, maintenance-margin requirements, leverage tiers, open-interest caps, oracle staleness thresholds, payout queue ordering rules, and other on-chain risk parameters may change. Where Parquet programs allow parameter updates, the upgrade authority may modify these without prior notice or user consent. Continued use of the protocol after a parameter change constitutes acceptance of the new parameters.

Counterparty pool risk

Trades are filled against per-market USDC liquidity pools. Large concentrated positions can drain a pool's free liquidity and route winning closes through a FIFO payout queue. Time-in-queue can be unbounded; payouts depend on subsequent pool inflows and counterparty losses. You assume the risk that winning positions may not be paid immediately or at all if the relevant pool cannot be replenished.

Third-party services

Parquet relies on third-party infrastructure including but not limited to Solana RPC providers, third-party hosting and network providers, multiple licensed market-data providers, an off-exchange reference feed (off-hours pricing), and a decentralized on-chain oracle. Parquet does not control these services and is not responsible for their availability, accuracy, terms, or behavior.

No custody, no accounts

Parquet does not custody user funds and does not maintain user accounts, balances, or credentials off-chain. Your wallet is yours; your keys are yours; your transactions are yours. Loss of wallet access, signing keys, or seed phrases is not recoverable by Parquet or anyone else.

Prohibited behavior

Do not attempt to exploit, attack, or interfere with the protocol, the indexer, the price relayer, the keeper, or any infrastructure operated under the Parquet name. Do not submit fraudulent transactions or attempt to impersonate other users. The on-chain programs will defend themselves to the extent the bytecode allows; off-chain services may rate-limit, refuse to serve, or block abusive clients.

Changes to these terms

These terms may change. The current version is always the one published at this URL. Continued use of Parquet after an update constitutes acceptance of the updated terms.

Last updated: 2026-06-28