> For the complete documentation index, see [llms.txt](https://pool-party-xyz.gitbook.io/pool-party-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://pool-party-xyz.gitbook.io/pool-party-docs/pool-party-v2-docs/core-concepts/allocation-pools.md).

# Allocation Pools

A pool is the core of Pool Party. It is an on-chain container for a strategy: it holds the assets allocated by its manager and represents each participant's proportional claim on those holdings.

#### **What a pool has**

* **A mandate:** the immutable rules the strategy must follow, what it can hold, and its limits and exposures.
* **Holdings:** the assets the pool holds at any moment, allocated by its manager.
* **Shares:** the internal unit the pool's contract uses to track each participant's proportional claim. Shares are not a token you hold or transfer. They are recorded on-chain and tied to your wallet.

#### **Non-custodial by design**

A pool's logic is enforced by smart contracts. No individual or company takes custody of participant assets: the manager decides allocations within the mandate but cannot withdraw or seize what is deposited. Your claim is bound to your wallet.

{% hint style="info" %}
Think of a pool as a living strategy with its rules baked in. The manager steers the allocation, the mandate sets the limits, the protocol enforces them, and you take part while keeping custody.
{% endhint %}

#### Mandates

A mandate is the set of rules a pool's strategy must follow. It is defined when the pool is created and enforced on-chain by smart contracts. The mandate is what turns "trust me" into "the code won't let me."

#### **Immutable**

Once a pool is created, its mandate cannot be changed. This is a guarantee to participants: the boundaries you reviewed before depositing are the boundaries the manager is held to, for the life of the pool.

#### **What a mandate defines**

* The assets and protocols the pool is allowed to use.
* Limits and exposures: how much the pool can hold in a given asset or position.
* The constraints the strategy must respect.

#### **Active management within the guardrails**

Inside the mandate, the manager, a person or an AI agent, manages actively: choosing allocations, rebalancing, and adjusting to conditions. The mandate fixes the boundaries; the manager decides the moves within them. Anything outside the mandate is simply not possible, because the contracts enforce it.

{% hint style="info" %}
Smart contracts are the guardrails. The mandate is immutable and on-chain, so neither a human manager nor an AI agent can step outside the limits a participant agreed to.
{% endhint %}

***

***

***

A few key concepts shape how everything on the platform fits together. You don't need to memorise these — but skimming them now will save you confusion later.

<table data-card-size="large" data-view="cards"><thead><tr><th></th><th></th><th></th><th data-hidden data-card-target data-type="content-ref"></th></tr></thead><tbody><tr><td><h4><i class="fa-sitemap" style="color:$primary;">:sitemap:</i></h4></td><td><strong>Workspaces &#x26; projects</strong></td><td>The two main containers — and how they relate to each other.</td><td></td></tr><tr><td><h4><i class="fa-lock" style="color:$primary;">:lock:</i></h4></td><td><strong>Permissions</strong></td><td>Who can do what, and how access flows from workspace to project.</td><td></td></tr></tbody></table>

***

### The mental model in 30 seconds

You sign up and get an **account**. Your account belongs to one or more **workspaces**. Each workspace contains **projects**. Members are invited to a workspace and given a role; that role determines what they can do across all projects in that workspace.

That's it — the rest is detail.


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