Risks

The Takepile team is not here to give financial advice. Our job is to give users the tools to act upon their own decisions. Before interacting with Takepile, please don't deposit more than you can afford to lose in the case of an unforeseen issue.

Smart Contract Risks

There are inherent risks in interacting with smart contracts. These risks may present themselves as unknown exploits that result in transaction failure or vulnerabilities that lead to loss of assets.

Oracle Risks

The Takepile Protocol utilizes DIA oracles, which we believe are some of the most reliable oracles available for dApps. DIA oracles are secure against false liquidations, however, price data is not directly in the control of the Takepile team. As incoming price feed data is out of the Takepile team's control, we urge traders to read about DIA and understand how oracles function: https://docs.diadata.org/documentation/oracle-documentation

Liquidation Risks

Liquidation occurs when a leveraged trade becomes under-collateralized and is able to be liquidated by a third-party liquidation bot. All trades on Takepile are isolated, meaning in the event of a liquidation, only the collateral associated with a position is lost by the trader. Remaining pileTokens not used as collateral are not at risk of being lost during a liquidation event. The Takepile Protocol is not responsible for funds lost via liquidation.

Risk of Impermanent Loss

Impermanent loss (IL) is always a risk when providing liquidity, whether for the TAKE/DAI LP on SpookySwap or providing liquidity to piles, as the conversion rate upon withdrawal or LP withdrawal value may not be of the same value as they were at the time of deposit. It is up to the liquidity provider to determine the risk of providing liquidity to the Takepile Protocol. The Takepile Protocol is not responsible for any impermanent loss that may occur on the protocol.