the risks

Read this before you pledge. Your SOL is in a program, and programs can fail.

The program

• No outside audit has been done. Tests can't prove that a program has no bugs.
• A bug could cost everyone in a buyout their SOL.
• Whoever holds a program's upgrade authority can change it. Proof shows the program address, and its authority can be read on-chain.

The deal

• The whale can say no, or say nothing. Then the deadline passes, and you withdraw your SOL.
• Any pledger can withdraw right up to the deal. A full bar can drop just before the whale accepts, and one pledger can block a deal this way.
• A whale can fill the bar from another wallet it controls. That is really a partial sale, and it's invisible on-chain.
• The tokens you claim are the coin itself, and its price can fall. Avoiding the pool doesn't protect you from the market.
• The bag you buy may not be the whole position. One person can hold many wallets.
• A coin with a live mint authority can have more supply created. LBO doesn't refuse those coins, so check the coin first.
• A pledge can leave you with a very small claim if you withdraw most of it first.

What LBO refuses

Coins with a freeze authority, because the tokens could be frozen after the SOL is paid. Token-2022 coins with a transfer fee, transfer hook, permanent delegate, non-transferable or default-state extension. Also mint-close, pausable, and any other extension not on a short list of metadata and group extensions. Targets that can't sign, such as pools and programs.

Rent

A buyout can only close when it's empty. If a pledger never comes back, the creator's rent stays locked. Other people's SOL and tokens aren't affected.

Your wallet

Read what your wallet shows before you sign. LBO will never ask for your seed phrase.