Pods Demo Release
The options awaken. Live on Polygon.
After 3 months of beta testing and improvements on Kovan and Mumbai, we’re moving to the next testing phase for Pods. We’d like to present the official demo release for Pods.
The purpose of this demo is to test and improve our tooling and smart contracts, test admin functions, bootstrap an initial group of arbitrageurs as well as gather live data which can help us update our model and simulations.
What to expect?
The system is live on Polygon with a TVL cap of 200,000 USD distributed among two options series:
- MATIC:USDC | Strike: 1.70| IV: 275% | Expiration: June 11th, 2021
- LINK:USDC | Strike: 27| IV: 220% |Expiration: June 11th, 2021
The live version of the protocol isn’t fully audited and the smart contracts that support the Pods Protocol have changed considerably since the last code audit, completed by February 24th with Quantstamp. We’re preparing for another code audit shortly. We ask users to be thoughtful about their funds and never allocate more than they would be willing to lose.
Before engaging in any actions inside the ecosystem, we invite you to read here a more extensive take on the risks of using Pods.
Demo Release FAQ
What is Pods?
Pods is the easiest way to hedge crypto.
Under the hood, Pods is made of a series of smart contracts applying options concepts to on-chain applications.
Why use Pods?
Crypto volatility can take away a good night of sleep. Hedging your portfolio can bring you comfort while protecting your savings from market price volatility.
How can I use it?
Pods is a DeFi app and users can connect their wallet to the app and start using it without having to register beforehand. You can find specific user guides on how to buy, sell and provide liquidity on our YouTube channel.
For this release, Pods is available on Polygon only.
This video will guide you on how to bring funds to Polygon and provide liquidity to Pods AMM.
How does it work?
The first version of Pods introduces the ability to trade and provide liquidity to fully collateralized European put options. Pods uses an options-specific AMM to algorithmically price options and distribute the AMM returns fairly among LPs.
While not yet present in the UI, support for calls and American options is already available within the core protocol.
Feel free to explore the details about the protocol that powers Pods on our documentation. The smart contracts are also open source for you to inspect.
What can users do on the demo version?
Users can buy, sell or provide liquidity to put options of $MATIC and $LINK, on the Polygon network. If you prefer to test the product on testnet, there are also options available on Kovan and Mumbai.
🐞 If you find a bug while using it, please report it to our team here or on Discord.
Does Pods have a protocol token?
There are no $PODS tokens yet, please be aware of scams if you see one at this point. If you notice a $PODS token, please contact us through discord or telegram to inform others of potential scams.
Coming next
We hope to get as much insight and feedback as possible during this demo release, adjust accordingly, finish a full audit by July and launch the app with improvements made along the way.
We're looking forward to hearing your feedback and thoughts on our Discord channel 🙏🏻
About Pods
Pods is a decentralized non-custodial options protocol. Users can create options and trade them through an Options AMM on the Ethereum Blockchain. Pods is the easiest way to hedge crypto in DeFi.
We invite you to take the first step in your new mission: start using the app on app.pods.finance
Join the Pods community
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