> For the complete documentation index, see [llms.txt](https://kvants.gitbook.io/kvants-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://kvants.gitbook.io/kvants-whitepaper/legal-regulatory-positioning-and-risk.md).

# Legal, Regulatory Positioning, and Risk

The required legal notice, user responsibility language, software boundary, KVAI utility framing, and risk statements.

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This document describes software. It is provided for informational purposes only. Nothing in it is investment advice, a recommendation, an offer, or a solicitation of any kind. It is not a crypto-asset white paper within the meaning of Regulation (EU) 2023/1114 (MiCA). Trading involves substantial risk of loss. Software features are described as of the publication date and may change, and availability of specific features depends on your jurisdiction. You are responsible for determining whether your use is lawful where you live and where you trade.
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This document is a product and technology description. It is not a crypto-asset white paper within the meaning of Regulation (EU) 2023/1114 (MiCA), it is not an offer to the public of any crypto-asset, and it is not a solicitation to acquire KVAI or any other token.

Kvants provides self-directed software for strategy research, graph building, backtesting, validation, education, AI assistance, and export generation. Kvants does not hold customer funds, does not custody assets, does not pool assets, does not place orders, does not provide personalized investment advice, and is not registered as a broker dealer, investment adviser, or exchange.

The user authors strategies, controls assumptions, supplies any third-party credentials outside Kvants for the self-hosted runner, and determines whether each use is lawful in the user's jurisdiction. No part of the product boundary is a claim that a user's activity is exempt from applicable law.

KVAI is described only as a consumption token for metered AI compute. It provides no equity, debt claim, dividend, revenue share, buyback right, governance over business proceeds, or income. Staked KVAI for VIP access levels unlocks VIP tiers, platform feature access, and AI effort ceilings.

Backtests, paper records, leaderboard entries, marketplace metrics, and terminal simulations are software outputs. Simulated performance is not a reliable indicator of future results. Trading involves substantial risk of loss, including loss of all capital used outside the software.

Statements about future features, including the Self-Hosted Runner, are forward-looking. They may change, be delayed, or never ship. Public launch of live stocks, perps, derivatives, regulated instrument workflows, or jurisdiction-specific workflows requires legal review before availability.