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Coini
@mrcoinlover
Alright. I invite you all to my first casthread (probably won't be a thing - casthread.. cast-thread.. threadcast?) Anyway! Let's drive into one of the most exciting defi projects, that I've seen for a long time: Peapods ($PEAS) 👇
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Coini
@mrcoinlover
Chapter 1️⃣: What's a Pod? 🌱 #Peapods introduces a game-changing concept in #DeFi: wrapping one or multiple liquid assets into a single ERC-20-TKN, known as "Pods" or pTKN within the Peapods ecosystem.
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Coini
@mrcoinlover
🔄 Pod Tokens (pTKN) can be created by wrapping original assets or purchased directly on decentralized exchanges like #Uniswap. They're always fully backed by the underlying assets (TKN) and can be unwrapped at any time.
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Coini
@mrcoinlover
💡 Additionally, each Pod has its own liquidity pair which includes a less volatile asset that liquidity providers (LPs) can pair 50/50 with the pTKN. Pod creators can choose initial paired assets like DAI or pOHM (from an OHM-Pod).
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Coini
@mrcoinlover
📜In summary, a Pod (pTKN) is a fully backed synthetic asset (with one TKN) or an index (with multiple TKN) paired with DAI/pOHM, forming its own liquidity pool. This enables obtaining pTKN through TKN wrapping or direct purchase one the open market.
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Coini
@mrcoinlover
📜For me, #Peapods and the #PEAS Token represent one of the most exciting innovations in #DeFi to date. As long as we've known the crypto market, volatility has been its endless resource. Peapods has found a way to harness this volatility and turn it into real value.
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Coini
@mrcoinlover
🙏Please leave a like, share and a follow for @mrcoinlover
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