Risks and disclaimer

This page lists what can go wrong, in plain words. Read it before you mint, buy, sell back or launch. It is short.

Before you sign anything

1. Read the amount KURV shows you.
2. Read the most you will pay, or the least you will receive.
3. If a number looks wrong, stop there and sign nothing.

Your decisions are yours

Nothing on KURV or in these docs is financial advice. Every price, return and buyer is up to the market, and you decide what to do with your money.

Vault Backing and the market price move apart

A collection’s Vault Backing is money set aside in that collection’s Vault. What anyone will pay you for the piece on the market is a separate number, and the two move independently.

• A Vault can hold $0. Then a sell-back pays nothing until money is booked into it. The Vault’s share of a trade counts toward Vault Backing and the Vault Exit once it is booked, at the next mint or Vault sale. After the mint ends, a Vault holding $0 with no piece in its inventory has neither, and KURV has no control that books it otherwise, so selling back can stay closed.
• If every piece is sold back, the next paid piece restarts the collection at its Last Vault Backing, whether it is minted or bought from the Vault. A free piece cannot restart it, and what the Vault kept stays in it.
• A sell-back pays the backing less the 10% the Vault keeps and the collection’s royalty of 5%. Both come off the full backing, not one after the other.
• Collections brought over from another launchpad have no Vault, so they trade with other collectors only.

Royalty	You receive, per $100 of backing
5%	$85.00

See Fees for the full split and The Vault for what moves the backing.

Quotes change

A price or a sell-back quote can change before your transaction runs: someone else may trade first. You are given a limit: the most you will pay, or the least you will accept. If the result falls outside it, the transaction fails and nothing moves. You still pay the network fee.

Smart contracts can have bugs

A contract is the program on the network that holds a collection’s rules and money. Contracts can have bugs, and a bug can lose money.

The collection’s coin can be frozen, lose value or have no buyers

Each collection is priced in one coin its creator picks at launch: USDC by default, or any other coin on Base. Every price on that collection is in that coin. Its Vault holds that coin too.

• The issuer of a coin can block an address or pause the coin. Circle can do this with USDC. If that reaches a collection’s Vault, payouts from it can be stuck, possibly for good. If it reaches your address, a payout to you can be stuck.
• A coin can lose value, and a coin with no buyers is a collection with no buyers.
• Nobody at KURV can move a Vault’s backing, so KURV cannot retrieve it for you.

Royalties elsewhere

A collection’s royalty is written into its contract. Another marketplace decides for itself whether to pay it. What it pays goes to the collection’s royalty router. Anyone can route it by calling route on the collection’s royalty router. KURV does not do this for you and has no button for it, so until someone does, that royalty stays in the router. It reaches the Vault only when it is paid in the collection’s own coin and routed. A royalty paid in any other coin goes 75% to the creator and 25% to KURV, with nothing to the Vault.

Your files

Images and labels live on IPFS, a public file network, held there by a pinning service KURV pays. Freezing a collection makes the pointer to those files permanent. It does not make the files themselves permanent. See Publish your files.

Decisions that are final

• Reveal is final. On a mystery mint it freezes the art in the same signature.
• Freeze is permanent. The art and its labels stay as they are from then on. The collection details (the name, description and cover marketplaces show) are not part of the art, and the contract still lets the owner change them.
• A send is final. Check the address twice.
• Your mint share, your royalty and your coin are set at launch and stay fixed for the life of the collection.