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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
💸 These fees collectively generate revenue for the pod, from which the creator can set a partner fee of up to 5% and a burning fee for the pTKN of up to 50% of the generated fees (with a combined limit of 50%). The remaining revenue is used to buy #PEAS tokens on the market.
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