Acceptance
Premiss is operated by LoraLabs ("Premiss", "we", "us"). By creating an account or using Premiss, you agree to these terms. If you don't agree, please don't use the service.
What Premiss is - and isn't
Premiss is a tool for building and testing trading strategies. You describe an idea, and Premiss turns it into a strategy and runs it against historical market data (a backtest). You can also set a strategy to run forward against live market data as a paper simulation - it records simulated orders and positions as new market data arrives, without placing real orders.
Premiss is not a broker, exchange, investment adviser, or commodity trading advisor. We do not manage your money, hold your funds, or decide what you should trade.
For most users Premiss places no real orders at all. If you have been approved for Premiss Live and have connected your own exchange account, Premiss submits real orders on that account, on your instruction, following the strategy you promoted. That feature and its limits are described under "Premiss Live" below.
Not financial advice
Nothing on Premiss is financial, investment, legal, or tax advice, and nothing here is a recommendation to buy or sell anything. Everything the product produces - including strategies, backtests, and anything the AI writes or suggests in response to what you type - is general information for educational and informational purposes only. It is impersonal: it is not tailored to your financial situation, needs, or goals, even though you asked for it, and you should not treat it as personal advice or as a substitute for your own research and, where appropriate, a licensed professional. Your decisions are your own, and you are solely responsible for them.
Backtests and simulations are hypothetical
Backtested and forward paper-simulated results are hypothetical. They do not represent real trading, and they have inherent limitations you should understand before relying on anything Premiss shows you:
- No real execution. A backtest or paper simulation places no real orders, so its results can't fully account for real-world factors like lack of liquidity, slippage, fees, or the price you'd actually get.
- Benefit of hindsight. Backtests are built on historical data and designed after the fact, which tends to flatter results in ways live trading won't.
- No real risk or emotion. Simulated trading carries no financial risk, so it can't capture how you'd actually behave - holding through losses, or bailing early - which materially affects real outcomes.
- Past is not future. No representation is made that any account will or is likely to achieve profits or losses similar to those shown. There are frequently sharp differences between hypothetical and actual results.
Trading is risky
Trading and investing carry a real risk of loss, and markets - crypto especially - are volatile. Many people lose money. Only ever risk money you can afford to lose. Premiss is a place to test ideas, not a promise that any idea will make money.
Signals and external execution
On eligible paid plans, Premiss can send a strategy's position changes as signals to a webhook destination or notification channel you configure. Premiss generates and delivers the signal; the receiving service decides whether and how to turn it into an order. The destination account, its funds, permissions, sizing, leverage, and risk controls remain yours. Signal delivery does not include direct exchange access and does not require you to give Premiss an exchange API key.
Keep destination URLs, signal tokens, and similar credentials secret. A receiver may reject, delay, duplicate, or act differently on a signal, and a successful webhook response only confirms that the receiver accepted the request at that moment - it does not confirm that an order was placed or filled. You are responsible for testing each destination, reviewing its configuration, and monitoring any resulting trading activity.
If your paid access ends, Premiss pauses active signal routes and stops new paid signal delivery. You can still review and disconnect existing routes. Restoring an eligible plan does not automatically reactivate a route; you choose when to turn it on again.
Premiss Live: real orders on your own account
Premiss Live is an early access feature, open only to participants we have approved. It is off by default. Nothing in Premiss places a real order unless you have been approved, have connected your own exchange account, and have promoted a strategy to that account yourself.
Premiss Live currently supports Kraken only. No other exchange is connected for real-money trading. The account, the funds, and the exchange relationship remain yours: Premiss never holds, custodies, or transfers your money, and we are not a party to your agreement with the exchange.
To use it you supply two API keys with split duties - one that may trade and one that may only read. Both are stored encrypted in a vault we operate, and the trading key is retrieved only at the moment an order is submitted. Keep each key's permissions as narrow as your exchange allows, and never grant withdrawal rights. You can revoke either key at your exchange at any time, which stops Premiss from trading on your account.
- Scope. Cash spot, long or flat, one base asset against USD, decided on closed 1h, 4h or 1d candles. No shorting, margin, leverage, derivatives, or sub-hour execution.
- Limits. One dedicated exchange account per run. Self-service capital is capped at 10,000 USD, with a UTC-day loss limit set from that allocation. These are operational safeguards, not a guarantee against loss.
- Controls. You can set a run to normal, close-only, or stop at any time; the strictest setting wins, close-only never blocks an exit, and a separate flatten-and-stop sells the position and cannot reopen risk. Note that stopping a run blocks new orders - it does not close an open position.
- Real orders carry real risk. Once a strategy is live it submits orders without asking you first. Orders may be rejected, delayed, partially filled, or filled at a worse price than a backtest assumed, and an outage at Premiss, at the exchange, or at any provider between them can leave a position open longer than intended. Every order placed on your account is your responsibility.
AI-generated output
Premiss uses AI to help write and discuss strategies. AI output is probabilistic, not guaranteed - it can be wrong, incomplete, or misleading, and it may produce similar output for different users. You are responsible for reviewing and verifying anything the AI produces before you rely on it or act on it.
We don't claim ownership of the strategies you create with Premiss - they're yours to use, edit, and take with you. Because the AI works from a prompt, it may generate similar strategies for other people, so you don't get exclusive rights to a general idea or a common technique. The technology behind the product stays ours: our models, prompts, templates, code frameworks, and the engine itself. You grant us the limited rights we need to store and process your content in order to operate and improve the product for you.
If you send us ideas, suggestions, or feedback about Premiss, we can use them freely to improve the product, with no obligation to you and without owing you anything for them.
Your account
You're responsible for keeping your login secure and for activity under your account. Tell us promptly if you suspect unauthorized access.
You must be old enough to form a binding contract in your jurisdiction to use Premiss.
Acceptable use
Don't break the law, infringe others' rights, or try to disrupt, reverse-engineer, or gain unauthorized access to the service.
Don't abuse the agent or the execution environment - for example, by attempting to run code that attacks our systems or other users.
Access and pricing
Premiss offers a free plan with usage limits and paid subscription plans with additional allowances and features, including signal delivery on eligible plans. Current prices, billing periods, taxes where applicable, and plan terms are shown before you subscribe. Paid subscriptions renew automatically until cancelled, and you can manage or cancel them from the app. Cancellation takes effect at the end of the current paid period unless the checkout terms say otherwise. Direct exchange access through Premiss Live is separate, approval-only, and is not included merely because you buy a subscription.
Service changes
We're actively building Premiss, so features may change, and we may add, modify, or retire parts of the service. We'll avoid breaking things unnecessarily.
Market data and third parties
Prices, charts, and other market data in Premiss come from third-party sources and are provided “as is”. We can't guarantee they're accurate, complete, current, or delivered without delay, and results shown in Premiss may differ from those on other charting platforms or on your broker, because data sources and timing differ. Verify anything independently before you rely on it.
Premiss also relies on third-party providers for things like hosting, AI, market data, email, and - for Premiss Live - the exchange itself. Signal destinations are third-party services selected and configured by you; their own terms and privacy practices apply. We're not responsible for their outages, errors, or actions, and a strategy, paper bot, signal route, or live run may not run if one of them is unavailable.
Availability
We don't guarantee that Premiss will be available, uninterrupted, timely, secure, or error-free. We may change, suspend, or stop any part of the service, and a backtest or paper bot may be delayed, miss data, or fail to run. A signal may be delayed, missed, or accepted by a destination without producing the expected action. A live run may likewise be delayed, miss data, or fail to submit or cancel an order, which can leave a position open longer than the strategy intended. We're not liable for anything that follows from that.
Disclaimers and liability
The service is provided “as is” and “as available”, without warranties of any kind, whether express or implied - including that it will be accurate, reliable, uninterrupted, or fit for a particular purpose.
To the maximum extent permitted by law, Premiss and the people behind it are not liable for any trading or investment losses, lost profits, lost data, or any indirect, incidental, special, or consequential damages arising from your use of - or inability to use - the service or anything it produces.
Where liability can't be excluded, our total liability to you for any claim is limited to the greater of the amount you paid us for the service in the twelve months before the claim, or €100. Nothing in these terms limits liability that cannot be limited by law - including for fraud, gross negligence, or death or personal injury caused by our negligence - and if you use Premiss as a consumer, none of this takes away your mandatory local rights.
Force majeure
We're not responsible for failures or delays caused by things beyond our reasonable control - for example outages at our providers or the exchanges, network failures, or other events we can't reasonably prevent.
Indemnification
You agree to cover us (defend, indemnify, and hold us harmless) against third-party claims, damages, and reasonable costs that arise from your misuse of the service, your violation of these terms or the law, or content you submit. In turn, we'll stand behind claims that Premiss itself, as we provide it, infringes someone's intellectual property. Neither side is responsible for the other's own wrongdoing.
Governing law
These terms are governed by the laws of Sweden, and any dispute will be handled by the Swedish courts. If you use Premiss as a consumer, you still benefit from the mandatory protections of the law where you live: nothing here, including this clause, takes away rights you can't be asked to give up.
Changes to these terms
We may update these terms as the product evolves. We'll change the date above, and for anything important we'll let you know in the product or by email. If you keep using Premiss after a change takes effect, that means you accept the updated terms.
General
These terms are the whole agreement between you and us about Premiss. If any part is found unenforceable, the rest still applies. If we don't enforce a part of these terms right away, that isn't a waiver - we can still enforce it later. You can't transfer your rights under these terms; we may transfer ours to a successor if the business moves.
Termination
You can stop using Premiss and delete your account at any time. We may suspend or terminate accounts that violate these terms.
Contact
Questions about these terms? Email founders@loralabs.co.
Questions about these terms? founders@loralabs.co