Pods

Pod creation

Creating a pod is a completely permissionless process, allowing anyone to do so without the need for approval by anyone or paying any fees. The pod creator will predefine wrap and unwrapping fees at the time of creation.

Wrapping & unwrapping process

Wrapping involves creating new pod tokens by depositing collateral into the pod. This action instantly rebalances the pod with the provided collateral, ensuring it remains fully collateralized. Simultaneously, pod tokens are minted and sent to the user's wallet.

Unwrapping involves taking pod tokens out of circulation, which also removes the collateral backing the pod. Anyone holding pod tokens can unwrap them at any time or trade them against any liquid market of the pod tokens.

Liquidity providing & staking

LPing involves adding liquidity to the incentivized pod's pool, pairing the pod token with another asset in a 1:1 ratio. LPs can stake this position to earn a share of all pod fees. The share of fees earned by LPs is set by the pod creator.

Private Pods

Users can create private pods exclusively for themselves to LP to maximize yield from their own personal pod.