Enter app

Wrapping

Converting PILE into vPILE — the only way the claim is minted.

  1. PILELiquid, freely traded
  2. WrapFee routes to the reserve engine
  3. vPILEClaim on the Stockpile
  4. BurnRedemption fee applied
  5. Stockpile assetsPro-rata share released
Token flow — wrapping is reversible, redemption is terminal

Sequence

  1. 01
    Approve

    Grant the wrapper an allowance on your PILE.

  2. 02
    Deposit

    Send PILE to the wrapper.

  3. 03
    Fee

    The configured wrap fee (0.50% proposed) is deducted and routed to the reserve engine.

  4. 04
    Mint

    vPILE is minted against the net amount at the configured 1:1 ratio.

Arithmetic

ts
The wrap interface performs exactly this calculation and labels it estimated
// Deterministic, frontend-computable, no market required
fee    = amountIn * wrapFee
net    = amountIn - fee
minted = net * mintRatio        // mintRatio is configured 1:1

// Example with the configured wrap fee
amountIn = 10,000 PILE
fee      = 50.00 PILE
minted   = 9950.00 vPILE

What wrapping does not do

  • It does not lock your position permanently — unwrapping exists
  • It does not entitle you to fees in cash — it entitles you to Stockpile assets
  • It does not change the liquid supply, only how much of it is claimed