> For the complete documentation index, see [llms.txt](https://docs.gage.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gage.cash/start-here/before-your-first-deal.md).

# Before your first deal

The app shows this once, before your first connection completes. It is worth reading twice.

{% hint style="warning" %}
**1. If you miss the grace window, the lender keeps your collateral.**

Expiry is a date and a time. After it there is a grace window in which only you can reclaim. When grace ends, the lender may claim. Set reminders when you list.
{% endhint %}

{% hint style="warning" %}
**2. Lenders may end up holding the collateral, and memes can go to zero.**

A lender is paid the cap only if the borrower reclaims. If the borrower walks away, the lender holds the collateral at whatever it is worth then.
{% endhint %}

{% hint style="warning" %}
**3. sGAGE rewards are estimates at pool price.**

Every reward figure is an estimate at the current pool price of sGAGE in GAGE. The pool price moves. Rewards arrive locked and drip out over the deal.
{% endhint %}

## Also worth knowing

* A listing is not a loan until it is funded.
* The fixed cost is always shown as an amount and a percentage for the term. Never annualised on its own, never "0% fee".
* Values in the interface come from a valuation service and say where they came from. The contracts never read a price.
* A Stock Token can be paused around a corporate action. Deals keep advancing; withdrawals of that token wait.
* Nothing on gage is financial advice.

The full [Risk disclosure](/reference/risk-disclosure.md) and [Terms](/reference/terms.md) are in the Reference section.


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