Cours de Aelin

Aelin is a deal coordination protocol, it differs from an on-chain fund like the LAO because each deal is discrete. Users pool funds into a single pool and the sponsor of that pool sources a single deal and then everyone holding the pool token (a claim on the pool funds) can decide whether they like the terms of the deal and accept it by converting their pool tokens into deal tokens, or reject it and get their funds back from the pool. 

The main downside for pool token holders is their funds are locked in the pool until the pool expires or a deal is sourced by the Sponsor. They can, however, sell their pool tokens as they are simply a claim on the funds in the pool. Each pool charges 2% of the total redeemed pool tokens paid to AELIN stakers plus an optional fee determined by the sponsor. If a pool token holder does not like a deal they can withdraw their funds without paying the 2% protocol fee or any sponsor fees.