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filter.fun is speculative, competitive, partially zero-sum, and risky. Most tokens launched are filtered. There is no “safe” position.

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What filter.fun does not promise

filter.fun does not promise returns. There is no “safe” position, no “risk-free” trade, and no “passive income.” Every position you take is at risk, including:
  • The token you launch may be filtered. Most are.
  • The token you trade may be filtered. When that happens, liquidity collapses and exit slippage explodes. See The filter.
  • Rollover entitlements are not guaranteed recouping initial capital. Holders of filtered tokens may receive rollover into the winner, but rollover size, winner outcome, and post-settlement winner price are not guaranteed.
  • The hold bonus is conditional. It pays out only if you hold at least 80% of your rolled amount for 14 days after settlement.

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What you take on by participating

  • Smart-contract risk. The contracts are open-source and auditable. The full V4 contract suite is deployed and tested on Base Sepolia. An external audit is scheduled before Base mainnet launch — until that audit is published, contract risk is unmitigated by third-party review.
  • Market risk. Trading is permissionless. You connect your own wallet, take your own risk, and do your own research.
  • Game-design risk. The protocol may amend parameters (HP weights, fees, settlement splits) before mainnet. Changes are published with notice ahead of activation.
  • Liquidity risk. Filtered tokens stay tradable, but on collapsed depth. Selling into a filtered pool can cost 50%+ in slippage.

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Most tokens are filtered

The system is designed so that most tokens lose. That is not a bug — it is the core mechanic. Six of every twelve are filtered at the cut. Five more are filtered at settlement. Only one wins per week. If you launch a token, the base rate for being filtered is high; if you hold a token, expect that it may be filtered.The losers are not abandoned — their liquidity funds the winner, and their holders receive rollover and hold-bonus entitlements. But that machinery is not a substitute for thinking carefully about whether you can afford to lose what you put in.

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Is this a pyramid scheme?

It shares surface similarities with high-risk speculative games, but structurally it is not a pyramid. There is no recruiter chain, no referral payout, no hidden routing of new-entrant funds to prior participants, and the loss expectation is published, not concealed. Every flow is on-chain and rule-based.A pyramid hides risk and promises returns. filter.fun exposes risk and lets the market decide. For the full four-prong analysis, see Is filter.fun a pyramid scheme?.