Terms of use
Draft, not legal advice. This text was written to describe how ARENA actually works. Before ARENA handles real money, a lawyer in your country must review it. Highlighted parts still need to be filled in.
1. Who runs ARENA
ARENA (“we”) is run by [name of the person or company], [address]. You can reach us at [email address].
2. What ARENA is
ARENA is a website for launching and trading memecoins on the Solana blockchain. Every coin launched through ARENA competes in weekly seasons. At the end of a season, the coin with the most qualifying holders wins, and the season pot buys that coin on the open market and destroys (“burns”) what it bought.
ARENA does not run its own exchange. Coins trade on pools of Meteora, a separate Solana protocol: first on a bonding curve, and after a coin “graduates”, on a Meteora pool whose liquidity is locked for good.
3. Real SOL or test SOL
ARENA runs either on Solana mainnet, where SOL and every coin are real money, or on Solana devnet, a test network where SOL and coins have no value and can be reset at any time. Every live number on the site is tagged Mainnet or Devnet, so you can always see which one you are using.
4. Who may use ARENA
You must be at least 18 and allowed to use crypto services where you live. You may not use ARENA from a country or for a person under sanctions, or where launching or trading memecoins is not allowed. [List of excluded countries, after legal review]
5. Your wallet, your responsibility
- You connect your own Solana wallet (for example Phantom). ARENA never holds your coins or SOL and never asks for your seed phrase. Anyone who asks for it is not ARENA.
- Every launch, trade and claim is a transaction that your wallet signs and sends. Check what your wallet shows before you approve. Blockchain transactions can’t be undone.
6. Fees
Every trade on a coin’s bonding curve pays a 1.25% fee: 0.25% to Meteora, 0.3% to the coin’s creator, and 0.7% to ARENA, split into 0.4% for the season pot, 0.2% to buy and burn $ARENA, and 0.1% for ARENA’s treasury. After a coin graduates, its Meteora pool charges 1%, shared between the locked liquidity’s owners (the creator and ARENA). Your wallet also pays the Solana network fee.
7. Seasons and the pot
- A wallet counts as a qualifying holder of a coin after holding at least the minimum without a break for the qualifying time (24 hours on the real network). A wallet that drops below the minimum starts over.
- If two coins have the same number of qualifying holders, the coin that reached that number first wins. If no coin has a qualifying holder, the pot rolls over to the next season.
- The pot buys the winning coin on the open market and burns everything it bought. Winning does not mean the coin’s price goes up, and the pot is not paid out to anyone.
- We may leave out wallets that we reasonably believe are used to fake the holder count (for example many wallets controlled by one person), and we may change season rules for future seasons. We announce changes before a season starts.
8. Launching a coin
When you launch a coin you are its creator. You are responsible for its name, picture and description, and they must not break the law or anyone’s rights (no impersonation, no copied brands, no hate, no adult content). We may hide a coin’s name, picture or page on ARENA. We cannot remove a coin from the blockchain.
9. What you may not do
Don’t use ARENA to defraud others, to launder money, to manipulate prices or the holder count, or to attack the site or its systems.
10. No advice, no guarantees
Nothing on ARENA is financial, investment, legal or tax advice. ARENA is provided “as is”. We do not promise it will always work or be free of errors, and the blockchain and Meteora are outside our control. Read the risks before you use ARENA.
11. Liability
To the extent the law allows, we are not liable for losses from price changes, from transactions you sign, from blockchain or Meteora failures, or from losing access to your wallet. [Liability cap and consumer-law carve-outs, after legal review]
12. Changes and law
We may update these terms; the date at the top shows the latest version. These terms are governed by the law of [country], and disputes go to the courts of [place], unless your consumer rights say otherwise.