Redacted

What is Redacted?

The Redacted Protocol serves as the central platform for BTRFLY, enabling users to engage in governance and generate revenue from both the Redacted treasury and Redacted's products. By locking BTRFLY for rlBTRFLY, users can earn revenue distributed in ETH. Earning BTRFLY emissions through rlBTRFLY provides an increasing stake in governance power. Users also gain access to governance rights in the DAO, allowing them to influence the future direction of Redacted.

Redacted created 3 main products: Hidden Hand, Pirex, and Dinero.

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Recent Video Interview

Main points of the interview:

• Introduced products like Hidden Hand, optimizing liquidity incentives across various protocols.
• Pyrex, a governance token management tool, offers liquid wrapper solutions like PX CVX and PXE for staking ETH.
• Differentiates from competitors by enabling meta transactions and yield abstractions.
• Risks include smart contract vulnerabilities and validator performance, akin to other LSD providers.

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Hidden Hand

Hidden Hand, created by Redacted, is a marketplace for governance incentives or "bribes" in DeFi protocols. It enables efficient governance processes and helps protocols engage voters. Users can earn extra yield on their governance tokens through these incentives. Examples include Balancer, Pendle, and Bunni using Hidden Hand for their token governance. For Redacted, Hidden Hand provides a diversified revenue stream for rlBTRFLY.

Protocols deposit bribes into Hidden Hand, which are then rewarded to users for their voting power. The platform aims to allow any protocol to create a bribe marketplace for their token. There is no cost for voters, and Redacted generates revenue through a 4% fee on each bribe, with half going to the treasury and half to rlBTRFLY lockers.

Pirex

Pirex is crafted to streamline the management of staked tokens, offering auto-compounding, yield management, and liquid wrappers for staked tokens. This enhances the utility of staked tokens, granting users access to distinctive features and opportunities for earning yields.

Pirex currently accommodates deposits for CVX, GMX, GLP, and BTRFLY. All fees collected by Pirex are directed to Redacted, with a breakdown of 42.5% distributed to rlBTRFLY Holders, 42.5% to the Redacted Treasury, and 15% to the DAO Reserves.

Dinero

Gain control of the mempool through leverage with Dinero, a permissionless stablecoin backed by user-owned Ethereum blockspace. Dinero can be utilized for gas on the mainnet by directing transactions through a Redacted darkpool, functioning like a flashbots-style private mempool. Leverage your ETH 2.0 validating deposit using a permissionless credit facility provided by Dinero. It stands as the native stablecoin of the Redacted Cartel.

BTRFLY Token

BTRFLY serves as the governance token within the Redacted ecosystem, enabling voting on governance proposals and offering the opportunity to be locked for rlBTRFLY to earn rewards in both BTRFLY and ETH. Both rlBTRFLY and BTRFLY are eligible for participation in governance, with rlBTRFLY providing five votes per token and BTRFLY offering one vote per token.

To acquire BTRFLY, users can obtain it on Curve or through a router like 1inch. Additionally, BTRFLY can be acquired by purchasing bonds on the Bond Protocol app.

rlBTRFLY Token

rlBTRFLY, or Reward Locked BTRFLY, enables token holders to lock their assets for 16 to 17 week epochs, earning rewards from Redacted's treasury and product ecosystem. rlBTRFLY holders also receive BTRFLY "pulse" emissions, provided as inflationary BTRFLY supply.

Locked rlBTRFLY yields rewards from Redacted's treasury and product ecosystem, paid in WETH. Users also receive BTRFLY "pulse" emissions in the form of new BTRFLY supply. Redacted's transition from rebase tokenomics to a fixed supply cap of 650,000 tokens in Redacted v2 aligns with its focus on sustainable products like Hidden Hand and Pirex, both generating organic yield for the protocol. This shift reflects rlBTRFLY's distribution of real yield from treasury farming and yield from Redacted products.

Redacted Partnerships

Redacted joins forces with many other platforms to build together. Some notable names include Abacus, Alchemist, Aura, Balancer, Bera Chain, Boba, Chainlink, Curve, Commonwealth, New Order, Lido, Ribbon, Stake DAO, Stargate, Umami...

Redacted Price Analysis

As of November 24 2024 Redacted has a marketcap of $4.6M. This is {{percentagefromath}} from its all time high of $543.55. In terms of its tokenomics, there's a total supply of 29K with 100% currently outstanding. Keep in mind Redacted has a fully diluted value of $4.6M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.