Tapio is a capital-efficient DEX for correlated assets. It introduces Self-Pegging Assets (SPA) that maintain stable value while generating yield, powered by a dynamic StableSwap AMM. Tapio removes the need for external oracles, supports instant DeFi utility, and integrates directly with lending platforms.

SPA tokens are rebasing type tokens minted by depositing correlated assets. They automatically stay pegged to their underlying value, generate returns through trading fees and rewards, and are compatible with other DeFi protocols like lending and collateralization.

Tapio uses a built-in price mechanism through its StableSwap AMM, which adjusts pricing based on pool balances and internal exchange rates. A dynamic amplification coefficient and buffer system ensure price stability without relying on external oracles.

Tapio generates yield through fees collected from minting, swapping, and redeeming in its pools. These fees are automatically distributed to SPA token holders via rebasing and partially allocated to a buffer reserve that helps maintain system stability. Users earn passive returns simply by holding SPA or wSPA (wrapped SPA) tokens.

Tapio is an innovative AMM DEX for correlated assets. Pike is a modular lending protocol designed to support customizable lending markets. Tapio and Pike are highly complimentary DeFi solutions. Pike’s inaugural lending market will integrate Tapio’s AMM DEX to provide an integrated DEX and lending platform for coordinated assets. The integrated platform unlocks capital efficiency and enhances utility for LSTs, LRTs, stablecoins as the liquidity can be used in both DEX and lending applications.