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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
Chapter 2️⃣: Pod Fees 🔧 Pod creators have the flexibility to adjust pod fees during creation, altering how the pod manages fees and distributes rewards. Up to five different fees can be adjusted, including fees on wrap/unwrap actions and optional fees on direct pTKN trades.
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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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