FAQ

What is Takepile? The Takepile Protocol is a decentralized perpetual exchange on the Fantom network. Takepile uses a new liquidity mechanism called "piles." Traders can deposit an asset such as DAI, USDB or wFTM and receive pileTokens, which can then be used to open positions on the Takepile Protocol. pileTokens can be converted to and from their underlying asset 6 hours after deposit, as long as the pileTokens aren't being used as collateral for an open position. Where does Takepile get its price feed data from? Takepile uses DIA oracles for our price feed data. Why does Takepile use index pricing? Index pricing from price feed oracles is a standard for decentralized perpetuals trading – price feed data is aggregated from multiple sources and posted on chain. This may lead to there being a difference between the index price and a real-time chart, but this is for the overall safety of Takepile traders. Index pricing helps to ease the risk of price volatility and flash liquidations, and "scamwicks," which a standard CEX orderbook can be subject to. Does Takepile have measures against price feed oracle frontrunning? Yes. In order to prevent oracle frontrunning attacks, as is standard procedure for decentralized perpetual exchanges, Takepile has a 5 minute position timer, during which an oracle will update multiple times. During this window, positions can be closed, but profits cannot be realized, combatting against bots taking advantage of the system.

While a position can be closed during this time, TAKE reward emissions and profits will not be earned by the trader. Are fees taken on canceled limit orders? No. Fees are only taken for position entry or exit. Will liquidated positions receive TAKE distribution? No, collateral will be lost during a liquidation and no TAKE is distributed.

Will increasing and decreasing positions cancel limit orders? No, limit order cancelation is done manually. Why did Takepile choose to launch on FTM? The Takepile Protocol team members are fans and users of the FTM blockchain and protocols on the network, and we felt that we could best integrate on Fantom. The network is fast and inexpensive, and the FVM model shows a lot of promise for improving transaction speed via parallel processing, which is a must-have for a decentralized perpetual exchange. Is Takepile audited? Takepile has undergone two audits: One from Ethos Project, and one from Techrate. The final results are pending from Ethos Project, but Takepile has passed its audit from Techrate.