> 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/concepts.md). # Protocol concepts The app uses **Buy** to add pool-share exposure and **Sell** to reduce or close it. The protocol terms are **mint/deposit** and **redemption**, respectively. A pool share is the token representing ownership in that pool; selling shares settles asynchronously. See the [holder guide](/takes-docs/holders.md). ## Baskets and public pools A basket is a public reusable investment idea with an author, name, base share name, icon, thesis, markets, directions, notional weights and suggested leverage per asset. Publishing requires no funds or token deployment. Each deployed basket is a public shared pool following one immutable version, with separate capital, account, chain and effective asset leverage. Anyone can join a public pool or deploy another; different leverage choices require another pool. Basket edits append versions and never alter existing pools. There is no private participation mode or basket-level leverage input. Pool and share names inherit the version’s names without a network prefix. The version’s icon is inherited. Unique IDs and chain-qualified contracts identify pools; the interface shows the network separately. Existing contracts retain their original on-chain names, while basket-linked pools display their version’s names in the app. Explore lists each basket once, including undeployed ideas. Basket pages group public pools; Portfolio groups the wallet’s positions by basket. Basket backing sums available deployment custody less unwithdrawn creator/platform fees once. A partial total states how many pools have usable valuation data; missing pools are not counted as zero. If every deployed pool is missing data, backing is unavailable. A basket without pools has zero backing. Share NAV belongs to the pool. User value counts only the user’s shares; pending deposits and claimable withdrawals remain separate. Missing observations are unavailable. Estimated basket ROI replays the latest published composition and suggested leverage over 24 hours, 7 days and 30 days. Explore highlights the 24-hour estimate and a 30-day history chart. These hypothetical strategy estimates do not combine actual pool returns or represent your personal return. They can exist before a pool is deployed. The replay uses hourly prices and funding, checks rebalancing bands each hour, and assumes instant fills at observed prices. It excludes trading fees, slippage, order size limits, live cooldowns and intrahour liquidation. Missing required price or funding history makes that period unavailable. The displayed cutoff identifies the history used; actual pools may use different leverage and achieve different returns. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://takes.gitbook.io/takes-docs/concepts.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.