Protocol/Project Name: Peapods Finance
Protocol Overview:
Peapods introduces ‘Volatility Farming’, a novel approach where the volatile price movements of any asset are tokenized, generating yield for users. This yield is created through arbitrage opportunities; as price discrepancies occur between a token (TKN) and its “Podded” version (pTKN), these differences are exploited for profit. Volatility Farming can benefit the Mode ecosystem by enhancing TVL, Volume, and Transactions.
Peapods wraps tokens into a vault, issuing the tradable synthetic, pTKN. This token is always redeemable for the vault’s underlying tokens. Arbitrage opportunities are created when its price shifts from its underlying value. Yield comes from fees on the conversion of TKN to pTKN (Wrap and Unwrap) and the buying/selling of pTKN within it’s native Pod LP.
Furthermore, we enable the first permissionless yield bearing crypto ETFs, which is currently an underserved $7.7T TradFi addressable market.
Every aspect of Peapods is composable and permissionless. We intend to become a positive-sum addition into the Mode ecosystem, through providing:
- New DeFi primitives capturing an untapped yield source on Mode; volatility.
- Permissionless vaults that invoke sticky TVL
- Boosted DEX fees and trading volume through arbitrage
- Enabling new sources of yield for any liquid Mode token
- Composable lego-brick mentality, able to integrate and be integrated by other protocols/projects
- Permissionless creation and trading of liquid ETFs
- Sustainable Liquidity campaigns via our Liquidity-as-a-Service model
MS Receiver Address:
0xC64bc02594bA7F777f26B7a1EeC6E6DC4a56362B
Distribution Confirmation:
We will not use Merkl for distribution. We will utilize the incentives to boost our Pod LP yields. Reward transactions will be sent from the multi-sig to our Pod rewards contracts for accurate distribution to Pod LPs. The contracts will ensure LPs are rewarded accurately for their proportionate contribution. Incentives will be divided into weekly reward epochs, determined by snapshot voting by Mode-bridged PEAS stakeholders. The vote will last for one week and rewards will be distributed across the following week.
Note: The team controlled wallets will be ineligible to vote to ensure no biases of reward flow. The team also reserves the right to adjust the weekly voting list based on criteria, or remove any pod from contention for rewards if it appears to be nefarious or maliciously ‘gaming’ the rewards system.
Incentive Impact Statement:
Incentives will accelerate the process of establishing arbitrage depth on Mode, to a level where the protocol’s flywheel of organic yield generation can consistently deliver attractive returns, enabling the protocol to sustainably retain liquidity post incentive period. Also, other PEAS stakeholders will be incentivized to bridge PEAS to Mode and vote on reward allocation, further driving TVL to the ecosystem.
Eligibility Criteria:
Additional Information:
-We are naming our V3 upgrade Leveraged Volatility Farming (LVF); it represents our largest protocol improvement to date. LVF will enable pTKN holders to borrow against their assets 1:1 to farm volatility - 2x yield, reduced IL, full asset exposure.
-Upcoming integrations with ODOS to incorporate Mode Pod liquidity to their order router. Further enhancing end-user DEX pricing on Mode.
-Upcoming integration with Charged Particles to incorporate Mode pTKNs into their “one-click” NFT packs.
On-going series of community X spaces covering the release of our LVF medium articles. LVF Deep Dive #1
Contact Information:
Point of Contact: Del Led - Business dev / Social Media
Point of Contact’s TG handle: @delsolll
X (Twitter): @del_peas
Email: team@peapods.finance