Volatilityisacommodity.
WallStreetmakesitforfree.
Ponspods wraps tokenized stocks into Pods, then charges a toll on every arbitrage the real market forces through them. Earnings, opex, the Monday gap — scheduled volatility, harvested as real yield. No emissions, ever.
Total value locked
$102M
Fees generated
$18.4M
Paid to LPs
$11.9M
Value burned
$1.17M
862,419 pTKN
The limit of volatility farming
Crypto volatility is free money that arrives whenever it feels like it.
Peapods proved the core idea: you can pay liquidity providers out of real fee flow instead of an emissions schedule, and let a wrapper token ratchet upward forever. The weakness was never the machine. It was the fuel. Crypto volatility is unscheduled, unbounded and perfectly correlated with everyone getting liquidated at once.
Tokenized equities are a different fuel entirely. They are the only assets on-chain whose volatility is manufactured off-chain, on a schedule, by someone else.
Crypto-native pods
Yield you can only measure after the fact
- Volatility shows up at random, so the APY on the card is a backward-looking guess.
- There is no reference price. The pool is the price, so arbitrage is discretionary and can simply not happen.
- The asset under the pod produces nothing on its own — fees are the only source of return.
- Every long-tail pod needs its own paired asset, which fragments lending into dozens of shallow markets.
- Volatility and drawdown are the same event: the week you earn the most is the week your collateral is worth the least.
The Ponspods way
Yield you can put in a calendar invite
- Volatility is on a published calendar: earnings, CPI, FOMC, opex, index rebalances. Yield becomes forecastable.
- A tokenized stock has a NAV. Arbitrage against it is forced, mechanical and closes every time — that is the fee flow.
- The underlying already yields. Coupons and dividend equivalents accrue to the pod reserve on top of trading fees.
- One pairing asset, USDG, so every pod borrows from the same deep market instead of bootstrapping its own.
- The market closes. The token does not. Every session gap is a fee event that crypto-native pods structurally cannot have.
Peapods built the engine. Real-world assets are the only fuel that comes with a delivery schedule.
252
scheduled vol events / year
104
weekend gaps / year
How it works
Four moves, from a share of Nvidia to a levered claim on its volatility.
Wrap the asset
Deposit a tokenized stock, basket or treasury into its Pod and receive pTKN. The Pod holds the underlying, mints a synthetic claim on it, and charges a small fee on the way in and on the way out.
Wrap
You deposit
1,000 NVDAx
Nvidia Stock Token
You receive
915.75 pNVDA
at CBR 1.092, minus 0.20% wrap fee
Fees burn pNVDA while the NVDAx reserve stays intact, so every remaining pNVDA redeems for more of the underlying than the day before.
Farm the volatility
Pair pTKN against USDG in the Pod's full-range pool. Every wrap, unwrap and arbitrage trade pays a fee, and part of that fee burns pTKN supply so the backing ratio ratchets up for everyone who stays wrapped.
Farm
pNVDA / USDG
Full range, x·y=k
Every trader who closes the gap between NVDAx on Nasdaq and pNVDA in the pool pays the pod to do it. That payment is the yield. Nothing is minted.
Lever the fee flow
Deposit only the pTKN side. The protocol borrows USDG against it, builds the LP for you and locks it as its own collateral. You get amplified exposure to fee income while keeping full exposure to the asset you started with.
Lever
You deposit pNVDA only
$10,000 — one-sided, no USDG needed
Protocol borrows USDG
from the isolated market at 8.4% APR
Full-range LP is minted
pNVDA + USDG, equal value both sides
LP is locked as collateral
self-collateralised at 200%
Trade the calendar
Earnings, CPI, FOMC, options expiry, index rebalances, and every weekend gap between the closing bell and the Monday open. Position into scheduled volatility before it prints instead of chasing it afterwards.
Schedule
Expected fee flow, next 7 days
No other DeFi protocol can publish this chart in advance. Ponspods can, because the volatility it farms is produced by a market with a printed calendar.
Wrap
You deposit
1,000 NVDAx
Nvidia Stock Token
You receive
915.75 pNVDA
at CBR 1.092, minus 0.20% wrap fee
Fees burn pNVDA while the NVDAx reserve stays intact, so every remaining pNVDA redeems for more of the underlying than the day before.
The signature mechanic
Farm the gap.
A tokenized stock trades 24/7. The company it represents does not. Between Friday close and Monday open there are sixty-five hours where the on-chain price wanders and the reference price cannot move — and every hour of that wandering has to be paid back through the pod at the open.
This is a fee source that no crypto-native pod can ever have, because crypto never closes.
104× / year
The weekend gap
The closing bell freezes the reference price for 65 hours while the token keeps trading. Monday reopens with a correction that has to route through the pod.
+320% vol
The earnings gap
Results land after the close. By the time the market reopens, the pod has already priced the move twice and charged for both.
+0.05–0.45%
The gap premium
Ponspods widens the AMM fee automatically while the underlying market is closed, so LPs are paid for stale-price risk rather than picked off by it.
Live pods
From a 3-month T-Bill to the most volatile basket on earth.
Every pod is the same machine with a different fuel. Pick the volatility you actually want to be paid for.
pGME
GameStop Stock Token
LVF APY
118.4%41.8% unlevered · 5× max
Pod TVL
$8.42M
24h vol
$26.6M
CBR
1.184+4.1%
pNVDA
Nvidia Stock Token
LVF APY
52.3%18.6% unlevered · 6× max
Pod TVL
$14.9M
24h vol
$14.0M
CBR
1.092+2.4%
pMAG7
Ponspods MAG7 Basket
LVF APY
34.7%12.4% unlevered · 6× max
Pod TVL
$11.3M
24h vol
$5.94M
CBR
1.071+1.9%
pSPACEX
SpaceX Stock Token
LVF APY
89.2%34.5% unlevered · 4× max
Pod TVL
$4.26M
24h vol
$6.40M
CBR
1.156+5.2%
pMEME
Ponspods Memestock Basket
LVF APY
132.6%47.9% unlevered · 3× max
Pod TVL
$3.18M
24h vol
$9.10M
CBR
1.243+7.4%
pTBILL
Tokenized 3M T-Bill
LVF APY
11.8%2.1% unlevered · 10× max
Pod TVL
$19.4M
24h vol
$1.24M
CBR
1.019+0.4%
The volatility calendar
The only yield curve in DeFi you can read three weeks ahead.
Fee income in a pod is a function of realized volatility in its underlying. For tokenized equities that volatility is scheduled by exchanges, regulators and earnings departments. So the protocol publishes it.
Aug 27
Thu
Nvidia Q3 FY27 earnings
EarningsAug 29
Sat
Weekend close, gap window opens
SessionSep 02
Wed
Robinhood Markets Q2 earnings
EarningsSep 09
Wed
GameStop Q3 earnings
EarningsSep 11
Fri
US CPI print
MacroSep 16
Wed
FOMC rate decision
MacroSep 18
Fri
Monthly options expiry
ExpirySep 19
Sat
Index quarterly rebalance
RebalanceExpected vol lift is a modelled uplift in realized volatility versus the trailing 30-day baseline for the affected pods. Illustrative figures.
The flywheel
Nothing in this loop requires a single new token to be printed.
Wall Street moves
Earnings, macro prints, opex, the closing bell. Volatility is manufactured off-chain, for free.
Arbitrage pays the pod
Someone has to realign pTKN with NAV. Every realignment routes through the pod and pays wrap, unwrap and AMM fees.
LPs get paid, supply burns
Fees split between LP rewards, pTKN burns and protocol revenue. Burns push CBR up permanently.
Deeper pods, tighter arb
Higher yield draws liquidity, deeper pools make arbitrage cheaper, so arbitrage happens more often.
Revenue buys PONS
Protocol revenue is used to buy PONS and fund vlPODS, whose holders direct metavault liquidity back into the best pods.
PODS
Fee token
Fixed supply, no emissions. Protocol revenue buys it from the market and routes it to the treasury and to burns.
vlPODS
Governance
Lock PODS to vote on pod whitelisting, metavault allocation and fee splits. Locked voters take a cut of protocol revenue in USDG.
pPODS
The pod of the pod
The governance token wrapped into its own pod. Revenue burns pPODS, so CBR rises for everyone who never unwrapped.
Questions
The parts people usually push back on.
From fees, and only fees. Every wrap, unwrap, buy and sell inside a pod pays the pod. Tokenized equities are arbitraged against a real reference price all day long, so that flow is not speculative — it is the mechanical consequence of the underlying market moving. Ponspods sits on the other side of it.
Three reasons. They mean-revert to a published NAV, so the arbitrage always closes. Their volatility is scheduled — earnings, CPI, FOMC, opex — so yield is forecastable instead of random. And many of them already carry native yield, coupons or dividend equivalents, that accrues to the pod reserve on top of fee income.
Collateral Backing Ratio is the amount of underlying held by the pod divided by the pTKN supply. Part of every fee burns pTKN while the reserve stays intact, so the ratio ratchets upward. Holding a pod token is holding a claim that grows against itself.
That is the best part of the week. The token keeps trading while the reference price is frozen, the pool drifts, and the Monday open triggers a large corrective arbitrage. Ponspods widens the AMM fee during closed sessions — the gap premium — so LPs are paid for carrying stale-price risk instead of being picked off by it.
No. It is leveraged exposure to the fee flow of a pod, not a directional bet. You deposit one side, the protocol borrows the other, and the pair sits in a full-range LP. You keep exposure to the underlying and to CBR growth, and you take liquidation risk if the pod token falls far enough.
Anyone. Pods are permissionless and immutable once deployed — pick a tokenized asset or a basket, set the fee schedule and the revenue split, ship it. Self-lending bootstraps the borrow market in the same transaction, so a new pod needs no outside liquidity to start.
Somebody is going to get paid for that volatility.
Wrap an asset, farm the gap, lever the fee flow. It costs nothing to look at the pods.