Index Pricing & Oracles

What is an index price? An index price is an aggregated price pulled from multiple data sources and delivered to Takepile via an oracle, which ensures better data. An oracle tends to update regularly, several times within a few minutes, while still avoiding "scamwicks" that can sometimes occur on centralized exchanges due to the orderbook trading system. An oracle may also update upon a large movement in price. Takepile utilizes DIA oracles for our price feed data. You can read more about DIA oracles here: https://docs.diadata.org/documentation/oracle-documentation

What does this mean for trading on Takepile? When opening a position on Takepile, the price displayed above the chart will show you the position's entry price. We'll take a look at an example below.

As you can see above, the real-time chart displays Bitcoin at $21,345.26 and the index price displayed next to BTCUSD is $21,303.231.

If you were to open a market long or short at this time, your entry price would be $21,303.231.