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waifu.fun is a launch primitive. it solves one problem (atomic launch, fair distribution, custodial-free escrow) and does not pretend to solve others. your money is exposed to a lot of things the contracts cannot protect you from. read this before you deposit.

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the token can go to zero

a successful launch is not a guarantee of price. tokens routinely drop 80% or more in the first hour of trading. the platform does not:
  • screen for project quality
  • vet the creator’s identity
  • vouch for the team’s intentions
  • promise any price floor
if you deposit 1 BNB and the token bottoms out, you walk away with tokens worth a fraction of what you put in. that is the nature of token launches.

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your BNB is locked during the launch

once you deposit, your only exits are:
  • withdraw() while the vault is still in OPEN
  • refund() once the vault reaches REFUND
while in CLOSED or LAUNCHED, you cannot get BNB back. CLOSED is typically one block. LAUNCHED is permanent (you get tokens, not BNB). if you change your mind after the close window, you wait until either the bundle succeeds (you get tokens) or the bundle fails (you get a refund). you do not get to choose.

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bundle bot griefing

the bundle bot is an EOA the platform operates. it can:
  • delay calling executeBundle() indefinitely (the launch sits in CLOSED)
it cannot:
  • steal BNB from the vault
  • mint a different token
  • skip distribution
the worst the bot can do is “never call execute,” which after three retries triggers enableRefundBundleFailed() anyway. the bot is an operator, not a custodian.

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FLAP portal risk

the FLAP portal is third-party infrastructure. we treat it as untrusted. the bundle’s predictedToken check guards against the portal returning a different token address than expected. if the portal is compromised or behaves unexpectedly:
  • the bundle may revert (your BNB stays in the vault, refund available)
  • the bundle may succeed with unexpected token parameters (rare, would require FLAP-side bugs)
we do not control FLAP. read their docs for their security model.

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PCS slippage and MEV

the follow-up buy uses PCS v2. the V2 follow-up buy uses a fixed 2% slippage tolerance computed in-contract from bundle build time. if MEV bots sandwich the bundle:
  • worst case: the slippage guard reverts the bundle (refund path)
  • ordinary case: you receive slightly fewer tokens than the spot quote suggested
we run the bundle through puissant (a private mempool) to reduce sandwich exposure, but it is not eliminated.

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smart contract risk

the wave H contracts are audited (or in the process of being audited; check the audit page on waifu.fun for the latest). audits reduce risk, they do not eliminate it. zero-day bugs are possible. mitigations:
  • the contracts are immutable per launch. no upgrade path means no upgrade bug.
  • the refund state is a one-way door. once a vault reaches REFUND, it cannot be reversed by any function.
  • the bundle is one-shot. once executed, the router is locked.

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platform owner risk

the platform owner can:
  • transfer ownership to another address
  • call adminEnableRefund on any non-LAUNCHED vault
they cannot:
  • mint tokens
  • drain BNB
  • change tier math
  • interfere with claim or refund once enabled
a malicious owner can force every active launch to refund. they cannot steal your money. if you do not trust the owner, you can still trust the contract, because the contract limits what the owner can do.

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vesting sell pressure

if you are in a BASED, WAGMI, or GIGACHAD launch, a flat 200M tokens (20% of total supply) is distributed to all presalers pro-rata, vesting over 24 hours. this means significant sell pressure during the first day. price typically falls during vesting unwind, then stabilizes (or does not).

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tax token mechanics

the token is FlapTaxTokenV3. it has buy and sell taxes (default 3%/3%). when you sell on PCS:
  • 3% of your sale is taxed (sent to mkt / burn / dividend / LP per the token’s bps configuration)
  • this is on top of PCS’s 0.25% LP fee
  • it applies forever during taxDuration, then taxes fall to zero
if you do not understand the token’s tax config, ask the creator. the config is on-chain and immutable post-launch.

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under-subscribed refund

if the launch does not hit cap, you get your BNB back (plus optional bonus). this is not a loss in absolute terms, but it is opportunity cost: your BNB was locked from deposit until refund window with no token to show for it.

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social engineering

a launch’s metadata is on IPFS, but the social presence (twitter, telegram, website) is not on-chain. a creator can deploy a launch with sophisticated metadata, fake followers, and a community that disappears the moment they have your BNB. do your own research on the team.

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what we do NOT promise

  • that the token will be worth more than what you paid
  • that the project will deliver anything beyond the launch
  • that the creator will stay engaged
  • that the social channels will exist in a month
  • that PCS will be the dominant venue forever
  • that BSC will remain operational and cheap
we promise:
  • the contracts behave as documented
  • the bundle is atomic
  • refunds are guaranteed under the three trigger conditions
  • the platform owner cannot drain your BNB
that is the entire safety surface. plan accordingly.