Dynamic watermarks burn viewer identity (email, IP, timestamp) into every rendered page of a document. When a viewer opens a protected link, Peony overlays their identity on each page at view time. Because it's rendered server-side — not layered with JavaScript — it can't be removed with browser devtools.

What Dynamic Watermarks Do

Every viewer sees a different watermark tied to their identity. Because Peony renders it, the watermark:

Can't be hidden with disabled JavaScript
Can't be removed via devtools
Can't be cropped out of a screenshot without cropping the content too
Appears on every page, not just the first

Unlike static watermarks (which sit in the file and can be cropped or edited out), dynamic watermarks tie a specific view to a specific viewer.

When Watermarks Help

Use them when accountability matters more than prevention:

Fundraising. Sending a deck to 30 investors — a per-investor watermark makes any leak traceable.
M&A diligence. Financial statements, customer lists, and cap tables going to multiple bidders. Attribution on every page.
Board materials. Pre-read decks with sensitive numbers going to board members and advisors.
Any multi-party share where you need to know who had access.

For fundraising, use one link per investor so each viewer gets a uniquely watermarked view. See Quick Start.

When Watermarks DON'T Help

Screenshots still capture the watermark. That's the point. Dynamic watermarks are an attribution layer, not a capture-prevention layer. Combine with Screenshot Protection on desktop browsers to block the capture itself.

A hostile viewer can still retype or photograph content. Watermarks are legal evidence and deterrent, not prevention. For truly sensitive materials, combine watermarks with disabled downloads, screenshot protection, and an NDA gate.

Customization Options

Text:

Viewer email (default)
IP address
Timestamp
Custom text
Any combination (e.g. email + IP + timestamp)

Position:

Tiled (recommended) — diagonal grid across the page, extremely hard to crop out
Header — top of each page
Footer — bottom of each page
Diagonal — single stripe across the page

Opacity and size: adjustable per link. Tiled + moderate opacity is the default for most fundraising and M&A use cases.

Setup Steps

Open the data room and click Links (or Permissions).
Open settings for the link you want to protect.

Toggle Dynamic Watermark ON.
Select the text fields (email, IP, timestamp, custom).

Choose position (tiled, header, footer, diagonal).
Adjust opacity and size if needed.

Save.

Test by opening the link in an incognito window with a different email — you should see that email burned into every page.

Layering with Other Controls

Watermarks alone — attribution. Use for low-risk shares.
Watermarks + disabled downloads — strongest protection for viewers using standard tools.
Watermarks + screenshot protection — blocks desktop capture; any capture that gets through still carries identity.
Watermarks + NDA gate — adds a signed legal layer on top of technical attribution.

For a fundraising deck: email verification on, watermark on, downloads off. For live M&A: add NDA gate and screenshot protection.

Pricing

Pro ($20/admin/month) — watermark with viewer email and IP, tiled position, standard opacity
Business ($40/admin/month) — Pro plus custom text, advanced position control, per-link templates