Tokemak is an innovative liquidity protocol within the decentralised finance (DeFi) ecosystem, designed to optimize capital efficiency across crypto markets. Launched in 2021, Tokemak introduces a unique mechanism for liquidity provisioning, allowing projects to bootstrap liquidity and manage capital more effectively. At its core, Tokemak serves as a decentralised market-making platform, where liquidity providers (LPs) can deposit tokens to earn rewards, and token projects can influence liquidity distribution through Liquidity Directors. The protocol’s native token, TOKE, plays a central role, enabling governance and directing liquidity flows across partnered platforms. By decoupling liquidity from exchanges, Tokemak aims to provide deeper, more efficient markets and mitigate common issues like slippage and impermanent loss, ultimately enhancing the overall stability and accessibility of DeFi trading environments.