# Pods

## What are Pods?

Pods are wrapped assets which consist of one or multiple underlying assets (TKN).

A Pod can take the form of an index by [wrapping](#wrapping) multiple assets, or a synthetic version of a singular asset. All Pods are backed 1:1 by the underlying assets at the time of creation. This ratio will never decrease, however, it can increase if a Pod includes a pTKN burn fee (see [Protocol Fees](/pods-2/fees.md)).

Pods are represented by vault shares, and receipt (pTKN) holders can [unwrap](#unwrapping) their assets at any time to retrieve a share of the underlying assets equal to their share of the relevant Pod at any time.<br>

<figure><img src="https://lh7-us.googleusercontent.com/7UyfWLGXXx-hOLrIK1oC_g98bmC4wsYH6V_7F8xdvLYqBmJ1SZHqeBB5669a9nRVfYjygiGY-KAR9yGD2ufz-uNSLT5daMgp_C49xohYAsLyvOduwWd-QjLnzq6PE33MkMnPJLD95urptGyvDuHIU_w" alt=""><figcaption></figcaption></figure>

## Multi-Asset Pods

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.&#x20;

## Decentralized & Trustless

In contrast to conventional and certain crypto methodologies which function off a more centralized asset management style of structure, our framework is entirely decentralized which means that there is no central management from the team or any individual at any stage after a Pod has been launched.

Investors can engage autonomously and, by becoming a fund liquidity provider, earn fees based on asset volatility.


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