1. Acceptance
Use of moonlight (the “Service”) constitutes acceptance of these Terms of Service (“Terms”). If you do not agree, do not use the Service.
2. The Service
Moonlight is a software tool that produces algorithmic, descriptive analytics on a portfolio you upload. The output (“Report”) is a fixed-format document containing factor exposures, risk statistics, and other quantitative measures, generated by a deterministic pipeline that runs the same algorithm for every user.
3. Not investment advice
The Report is informational only. It is not investment advice, a recommendation to buy or sell any security, a solicitation of any transaction, or a fiduciary product.
We are not a registered investment adviser and do not provide personalized investment advice. A subscription grants access to the algorithmic report tool; it does not create an advisory or fiduciary relationship. The Service does not custody assets, does not route orders, and does not produce personalized recommendations. Reports describe a portfolio at a point in time; they do not advise on what should be in it.
Backtests, hypothetical scenarios, and “what-if” outputs are clearly labeled as such within the Report. They do not represent actual trading results and are subject to look-ahead and survivorship biases inherent to retroactive simulation.
4. Eligibility
You must be 18 or older and a United States resident. By using the Service you represent that you meet these requirements and that nothing in your professional or regulatory status prohibits you from receiving the Service as a research output.
5. Pricing and refunds
The Service is offered as a monthly subscription that includes a weekly allowance of report credits (one credit = one report generation). Subscriptions renew monthly until cancelled. Unused credits do not roll over between weekly windows. If a pipeline failure prevents delivery of a report, the credit is automatically refunded.
6. Permitted use
The Report is licensed to you for personal, non-commercial use. You may not redistribute the Report, white-label it, scrape its contents to populate a competing service, or hold it out as the work of any party other than moonlight. Internal sharing within a household is permitted; commercial republication is not.
You also agree not to: (a) submit the Report or any substantial portion of it to a third-party large language model, retrieval-augmented system, or agentic tool for the purpose of generating derivative reports or training, fine-tuning, or grounding any model; (b) extract the methodology described in the Report to seed a competing analytics service; (c) post the Report (in whole or in substantial part) to any public-facing website, social media, or community where it could be retrieved by automated crawlers. These prohibitions apply to both the rendered Report and the underlying numerical data presented within it.
6a. Attribution code
Each Report carries a unique attribution code rendered on the cover and back cover. The code identifies the original issuance and is recorded against your account at the time of generation. Reports surfacing in violation of Section 6 above are identifiable to the source issuance via this code. We may suspend your account, refuse future Reports, and pursue available legal remedies against accounts whose attribution codes appear in prohibited locations.
7. Limitation of liability
To the maximum extent permitted by law, the total liability of moonlight and its operators for any claim arising out of these Terms or the Service is limited to the amount you paid for the Report giving rise to the claim, or one hundred United States dollars, whichever is greater. We disclaim liability for indirect, consequential, special, or punitive damages, including lost profits or trading losses.
8. No warranty
The Service and the Report are provided on an “as is” basis. We do not warrant that the Report is free of error, that any analytic is fit for any particular purpose, or that any input data is current as of any specific time. Market data carries the customary lag from market close. Numbers in the Report should be cross-checked against your brokerage statement before acting on them.
9. Indemnity
You agree to indemnify moonlight against any third-party claim arising from your use of the Report, including claims that you relied on the Report as if it were investment advice.
10. Arbitration and class waiver
Any dispute arising from these Terms will be resolved by binding individual arbitration administered under the rules of the American Arbitration Association, seated in the State of Delaware. You waive any right to participate in a class action, class arbitration, or representative proceeding.
11. Governing law
These Terms are governed by the laws of the State of Delaware, without regard to conflict-of-laws principles.
12. Changes
Material changes to these Terms will be posted to this page and, where required, communicated by email. Continued use of the Service after a change constitutes acceptance of the revised Terms.
13. Contact
Legal inquiries: legal at moonlight (placeholder pending domain registration).