🍃PADs

Wrapping crypto assets to earn yield.

What are PADs

PADs are bundled assets containing one or more base assets (TKN). They can take the form of an index by bundling multiple assets or a synthetic version of a single asset. At the time of creation, all pods are fully backed at a 1:1 ratio by the underlying assets. While this ratio remains constant, it may increase if a pod incorporates a rTKN burn fee (refer to Protocol Fees). Vaults represent pods, and holders of receipts (rTKN) have the flexibility to unwrap their assets at any time, receiving a portion of the underlying assets proportionate to their share of the relevant PAD.

Multi - Asset PADs

All multi-asset pods on Peapods have a set weight per asset that make up the pod when created. These pods do not depend on the market value of the tokens and anyone can create them at any time.