Trading
How PILE trading produces the protocol's primary revenue.
PILE is the venue-facing asset. It trades against a quote asset on open markets, and the protocol takes a configured fee on activity routed through its own venues.
Direction is irrelevant
A buy and a sell of equal size pay the same fee. The protocol has no directional preference and no mechanism that benefits from price appreciation specifically — only from turnover.
| Event | Fee basis | Configured |
|---|---|---|
| Routed buy | Input amount | 0.50% |
| Routed sell | Input amount | 0.50% |
| External venue trade | Not captured | — |