Takepile Protocol


Perpetual DEXs are an important part of the DeFi space because they allow trading of market volatility without impacting investments or stacked positions, with your own wallet, without KYC, and without counter-party risk. The largest piece holding existing perpetual DEXs back is the solvency issue: pools can be drained, and the only scaling solution is increased liquidity. If too many traders have winning longs or shorts, they may not all be paid out, and the DEX could become insolvent. False liquidations, few tradable markets and lack of utility of a perpetual DEX’s token, on top of the main solvency issue, are all problems that Takepile has tackled head-on.
Takepile utilizes a novel liquidity system called the “pile” system, where traders deposit an underlying asset such as DAI, USDB or wFTM, and receive a pileToken (ex: pileDAI or pileFTM) to trade with. A pileToken functions similar to an LP token, where it represents a trader’s ownership of the underlying asset found in a pile. If a trader owns 10% of all pileDAI, they are entitled to 10% of all DAI in a pile. As pileTokens are minted or burned upon winning or losing trades, the value is dynamic, and this eliminates the solvency issue, even in a case of all traders opening longs or all traders opening shorts, and closing them, at the same time. Takepile has also partnered with DIA oracles, which offer highly reliable oracles that update every minute, without the risk of false liquidations, even in a case of a price feed going offline, and enable us to offer a wide variety of assets not normally found on perpetual DEXs.
Takepile also offers a robust "sticky liquidity" DeFi suite. In simple terms, our users are heavily incentivized not only to trade, but to also stick within the Takepile ecosystem itself, thus bolstering our growth and ensuring the best trading experience possible for our users.
In simple terms it works like this:
1. Deposit stables or natives for pileTokens
2. Trade or stake pileTokens to earn TAKE
3. Stake TAKE on a pile, which entitles stakers to fee share, paid out in pileTokens, and can be swapped for their corresponding underlying asset
4. Contribute to the TAKE/DAI LP and stake your LP tokens for another way to earn
In short, we’ve built a simplified, leveled playing field that makes sure trading well is what’s most important. Say goodbye to battling sandwich attacks, exorbitant fees, and slippage, and say hello to guaranteed solvency, fee share, 1x to 200x leverage, competition and more!
We’re not here to replace AMMs, nor are we here to be just another competitor of existing platforms. We aim to be an alternative way to trade.
Head to the "Get Started with the Takepile Protocol" section to learn more about what makes us different:
Last modified 6mo ago