Risk Disclosure

Last updated: 2026-09-18

The former $9MM tokenomics, claim, and holder revenue-sharing programs are sunset. These docs do not describe an active claim process or current distribution rights. For $9MM-related information and updates, visit 9mm.pro.

No Financial Advice

Nothing on watergun.pro, in the Watergun documentation, on Watergun social media, or in any related channel constitutes investment, financial, trading, legal, tax, or accounting advice. We are not your advisor. Consult qualified professionals before making decisions that depend on your circumstances.

Non-Custodial Protocol

Watergun interfaces are designed for users to connect self-custodial wallets and sign their own transactions. Self-custody does not remove smart-contract, approval, administrative, or third-party risk. A token approval may authorize a contract to transfer assets within its scope. Settled blockchain transactions generally cannot be reversed, and lost private keys or funds may not be recoverable.

Smart Contract Administration

Although the interfaces are designed for self-custody, some deployed contracts and hosted services may have administrative controls. The examples below are not a complete description of every deployment. Review the current contract code, role holders, and on-chain settings for the network you use:

Admin keys CAN:

• Pause new swaps in the event of a discovered exploit or critical bug, where a deployment grants that capability
• Adjust protocol fee parameters within ranges defined in the contracts
• Set or update the fee-recipient address
• Upgrade peripheral contracts (such as routers) where contracts are upgradeable
• Update token lists, default routes, and aggregator paths in the Interface

Administrative access does not itself reveal your wallet's private keys or reverse a settled blockchain transaction. Do not infer from that fact that pool assets, approved tokens, or upgradeable contracts are free of administrative risk. The identity of role holders and the limits of each role must be verified for the specific deployment; changes to those controls may affect users.

Assumption of Risk

By using Watergun you acknowledge and accept each of the following risks:

• Smart contract risk — the underlying contracts are open-source forks of battle-tested upstream projects, but no code is guaranteed to be bug-free
• Oracle and pricing risk — V3 concentrated liquidity and aggregator quotes depend on accurate price data; oracles can be manipulated or fail
• Impermanent loss — providing liquidity exposes you to divergence loss, amplified within V3 ranges
• Market volatility — token prices move. You may lose everything
• Sandwich / MEV attacks — transactions with insufficient slippage protection may be front-run or sandwiched
• Bridge risk — moving tokens between chains relies on third-party bridges we do not operate
• Stablecoin depeg risk — pegged tokens can lose their peg
• Fork / chain reorganization risk — the underlying blockchain may reorganize or hard-fork
• Phishing, scam, and user-error risk — see Security Notice
• Regulatory risk — the treatment of crypto assets, interfaces, trading activity, fees, and distributions varies by facts and jurisdiction and may change; see below
• Legacy-program confusion — older materials may describe $9MM or NFT-holder distributions and claims that are no longer active Watergun offerings; see Revenue Sharing (Sunset)

Regulatory Uncertainty (as of September 18, 2026)

Regulatory treatment depends on the actual asset, transaction, rights, representations, participants, and jurisdiction. Labels such as “utility,” “NFT,” “non-custodial,” or “decentralized,” and the use of automated smart contracts, do not by themselves determine whether securities, commodities, derivatives, money-transmission, consumer-protection, or other laws apply. Nothing in these documents is a determination by the SEC, the CFTC, a court, or any other authority that a Watergun asset or activity has a particular status. No regulator has approved or endorsed Watergun through the materials linked below.

• The SEC's March 2026 interpretation, accompanied by CFTC guidance, explains that a crypto asset that is not itself a security can still be involved in an investment-contract transaction. It does not classify 9MM, Watergun NFTs, or Watergun's specific activities.
• The SEC staff's April 2026 interface statement addresses a limited set of broker-dealer registration circumstances for certain self-custodial interfaces. It is a staff view, not a general authorization for this Interface.
• The SEC's August 2026 Regulation Crypto Assets announcement concerns proposed rules. A proposal is not an effective exemption or a finding about Watergun.
• The SEC's September 17, 2026 innovation exemption is temporary, conditional relief for certain permissioned venues trading tokenized U.S.-listed stocks. It is not a blanket DeFi or DEX exemption.
• The CFTC staff's September 17, 2026 passive-software position addresses specified introducing-broker registration issues for software facilitating trading with registered futures intermediaries and markets, subject to conditions. It does not generally cover spot DEX activity or determine Watergun's regulatory status.

Rules and agency positions may change or be interpreted differently by courts and other authorities. Watergun may need to restrict access, modify features, or discontinue services in some locations. You are responsible for assessing the rules applicable to you; the team must separately assess rules applicable to its own activities.

Former 9MM Pro-Era Programs

Former descriptions of tokenomics, claim rounds, eligibility, percentages, or revenue sharing are historical and should not be treated as current Watergun offerings or a promise of returns. Acquiring or holding $9MM, an OG NFT, or PEWCAT does not create a current holder distribution under these docs. See Revenue Sharing (Sunset) and visit 9mm.pro for $9MM-related information. These statements do not resolve any asset's legal classification.

No Fiduciary Relationship

Nothing about your use of Watergun creates a trust, fiduciary, agent, partnership, employment, or joint-venture relationship between you and the Watergun team.