Risks

The disclosures

• Leverage risk
  Up to 50× leverage is supported. A 2% adverse move at 50× leverage liquidates the position. Most traders who use leverage near the cap lose money on a long enough timeline. Position sizing is your responsibility, not the protocol's.
• Liquidation risk
  Liquidations on Sour are structural — when a position's margin falls below maintenance, the next batch closes it at the uniform clearing price. In fast moves the realized exit price can be substantially worse than the trigger price. There is no off-chain liquidation keeper to negotiate with.
• Smart-contract risk
  The Sour program at souryQgnM1xiNuGcmVYLPGT3MKqnGN8QTqP8zk8eape is open source and formally verified for settlement and aggregate-budget invariants (18 Kani proofs + Lean spec + 15 property tests). It does not yet have a third-party security audit. Bugs in unverified surface area (account validation, deserialization, CPI handling) are possible. See /audits for the full statement.
• Oracle risk
  Mark prices are anchored to Pyth Pull oracles. If the oracle is wrong, stale, or manipulated, fills and liquidations may be priced incorrectly. Sour uses circuit-breaker checks on oracle freshness, but no oracle binding is risk-free.
• Liquidity risk
  Sour is a small protocol. The LP vault NAV bounds aggregate exposure (see /learn/per-user-oi-cap). During large moves, depth at any single price level may be thinner than on bigger venues, which can result in larger realized slippage on close. Per-user OI caps may also block opening above a threshold.
• Custody risk (mitigated, not zero)
  Sour is non-custodial — your USDC sits in your own wallet, signed transactions move it to the program-derived collateral account. Custody risk reduces to (a) your wallet's key management and (b) the program's correctness. Both can fail in ways that are not the protocol's fault.
• Regulatory risk
  Perpetual futures are restricted or prohibited in many jurisdictions, including most US-resident retail. Sour does not perform KYC and does not screen users by jurisdiction. You are responsible for confirming that trading on Sour is legal where you reside.
• Operational risk
  Solana network outages, RPC outages, frontend outages, oracle outages, and Pyth pusher outages have historically caused windows where positions cannot be closed at expected prices. Sour's on-chain matching engine is independent of any frontend, but you may be unable to interact with it during such windows.
• Token risk (none yet)
  Sour has no token, no presale, and no airdrop as of v1.0.7. Anyone messaging you about a SOUR token sale is a scam. If we issue a token in the future, the announcement will come from sour.finance and @sourfinance only.

What we recommend

Trade with capital you have explicitly written off. Set position sizes assuming you may lose the whole position. Keep position notional small enough that the worst plausible drawdown is recoverable from your unrelated income.

Do not trust large stat displays on any DEX as a substitute for reading the protocol's actual mechanism. We publish the program ID and verification artifacts so you can verify directly: see /program-ids and /audits.