> For the complete documentation index, see [llms.txt](https://tokendao.gitbook.io/tokendao-documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tokendao.gitbook.io/tokendao-documentation/features-and-risk/product-features.md).

# Product Features

Our product features.

TokenDAO's structured crypto products are built using Set Protocol smart contracts. Our tokens have the following features: 

* ERC-20 standard
* Fully-collateralized by the underlying
* Can be issued/redeemed similar to ETFs
* Can earn swap fees from liquidity pools
* Trustless, open-source
* Tradable in the secondary market

For a more detailed explanation, refer to the Set Protocol [whitepaper](https://www.setprotocol.com/pdf/set_protocol_whitepaper.pdf).