> For the complete documentation index, see [llms.txt](https://peeps-2.gitbook.io/peeps-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://peeps-2.gitbook.io/peeps-docs/peeps-whitepaper/token/token-risks.md).

# token risks

Holding or trading $PEEPS involves substantial risk, including:

* extreme price volatility;
* loss of some or all funds;
* limited or disappearing liquidity;
* smart-contract bugs or exploits;
* blockchain, bridge, sequencer or RPC failures;
* regulatory changes;
* concentrated holdings;
* treasury or administrative-key risk;
* misleading third-party promotion;
* phishing and wallet compromise; and
* inability to access or sell tokens during market stress.

Buybacks, burns, marketing, product development and community activity do not eliminate these risks.


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