> For the complete documentation index, see [llms.txt](https://takes.gitbook.io/takes-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://takes.gitbook.io/takes-docs/readme.md).

# Introduction

Takes lets you create and hold tokens that follow leveraged trading strategies on Hyperliquid. Each token has a fixed basket of markets, directions, weights, and leverage.

Use **Buy** to purchase pool shares with USDC and **Sell** to exchange shares for USDC. These actions use the protocol’s mint and redemption requests. Takes manages the underlying trades. Accepted requests begin processing as soon as confirmations, funds and execution capacity allow. Settlement is asynchronous; tokens or USDC are delivered automatically to the original controller, with a manual claim fallback.

## Your wallet, on-chain ownership

You keep your wallet keys and hold tokens in your wallet. Contracts hold pending deposits and settled payouts; each token has its own trading account. If automatic delivery fails, you can claim a settled payout without approval from Takes staff. This is the [non-custodial model](/takes-docs/security-and-trust/fund-custody.md#fund-custody).

Takes tokens are composable: other applications can use their public token interfaces. Integrations must handle signed fee quotes, individual requests and asynchronous settlement. See [Smart contracts](/takes-docs/technical-design/smart-contracts.md#smart-contracts).

Contract rules reduce the need to trust a person with settlement and claims. They do not make the whole system trustless: trading, request processing, signed settlement pricing, and external networks still introduce [trust assumptions](/takes-docs/security-and-trust/roles-and-permissions.md#roles-and-permissions).

Leverage can magnify losses as well as gains. Read the [risks](/takes-docs/start-here/risks.md#risks) before using Takes.

## Start here

* **Understand Takes:** [How it works](/takes-docs/start-here/how-takes-works.md#how-takes-works).
* **Use Takes:** [Explore tokens](/takes-docs/holders/explore-tokens.md#explore-tokens), then [buy pool shares](/takes-docs/holders/mint-tokens.md#buy-pool-shares) or [sell pool shares](/takes-docs/holders/redeem-tokens.md#sell-pool-shares).
* **Trade or fund another network:** [Trade and move USDC](/takes-docs/trade.md).
* **Understand strategy adjustments:** [Trading and rebalancing](/takes-docs/concepts/trading-and-rebalancing.md#trading-and-rebalancing).
* **Invite other wallets:** [Referrals and rebates](/takes-docs/referrals.md).
* **Review platform activity:** [Analytics](/takes-docs/analytics.md).
* **Publish a basket and deploy a pool:** [Design](/takes-docs/creators/design-a-token.md#design-a-basket), then [publish and deploy](/takes-docs/creators/review-and-launch.md#review-and-launch).
* **Understand the protocol:** [Architecture](/takes-docs/technical-design/architecture-overview.md#architecture) and [token accounting](/takes-docs/technical-design/accounting-model.md#accounting-model).
* **Review security:** [Custody](/takes-docs/security-and-trust/fund-custody.md#fund-custody) and [permissions](/takes-docs/security-and-trust/roles-and-permissions.md#roles-and-permissions).

See [Networks](/takes-docs/reference/supported-networks.md#networks) for Arc, HyperEVM, Ethereum, Base, Arbitrum, and Monad, and [Fees and limits](/takes-docs/reference/fees-and-limits.md#fees-and-limits) for costs.


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