why so bullish on
@redactedcartel
$BTRFLY
(🦋,🦋)
a RE-bread 0//12 (cos 1st one was cryptic unorganized)
@redactedcartel
$BTRFLY
(🦋,🦋)
a RE-bread 0//12 (cos 1st one was cryptic unorganized)
1/
to understand why, we need to know a little about $CRV & $CVX.
curve is the most efficient liquid stable coin swap in #DeFi currently with fees roughly 0.02% (much lower then uniswap & sushiswap), also a stablecoin LP farm.
to understand why, we need to know a little about $CRV & $CVX.
curve is the most efficient liquid stable coin swap in #DeFi currently with fees roughly 0.02% (much lower then uniswap & sushiswap), also a stablecoin LP farm.
2/
curve offers stablecoin farms to earn yield in $crv tokens, which can then be staked to earn $veCrv which are the tokens used to vote. (stable coin farms have 0 impermanent loss)
curve offers stablecoin farms to earn yield in $crv tokens, which can then be staked to earn $veCrv which are the tokens used to vote. (stable coin farms have 0 impermanent loss)
3/
votes r used in crv to give certain pools boost yields, this means - more vecrv == more voting power == higher yields for your desired farm.
though there is slight catch with vcrv staking, you must lock them for 1-4 years &the longer you lock your farm for the higherewards
votes r used in crv to give certain pools boost yields, this means - more vecrv == more voting power == higher yields for your desired farm.
though there is slight catch with vcrv staking, you must lock them for 1-4 years &the longer you lock your farm for the higherewards
4/
this is where convex comes in, $cvx aims to reward $crv farmers without the lockup duration, by giving them the tokens for them to lock up so you dont have to.
convex then use these crv tokens to lock them in their own vaults to generate yield & voting power on crv
this is where convex comes in, $cvx aims to reward $crv farmers without the lockup duration, by giving them the tokens for them to lock up so you dont have to.
convex then use these crv tokens to lock them in their own vaults to generate yield & voting power on crv
5/
thru doing this convex holds close to a 50% governance domination on $crv.
$cvx has the most voting power to do what?
boost the rewards to further grow the cvx token.
thru doing this convex holds close to a 50% governance domination on $crv.
$cvx has the most voting power to do what?
boost the rewards to further grow the cvx token.
6/
why does this make REDACTED cartel $BTRFLY so important?
(🦋,🦋)
why does this make REDACTED cartel $BTRFLY so important?
(🦋,🦋)
7/
bonds in redacted generates $crv & $cvx tokens
they then use these to grow their own voting power to control rewards on both platforms cvx & crv .then using ohm mechanic rebasing system, the rewards REDACTED earns from crv & cvx will then be distributed to xBTRFLY holders.
bonds in redacted generates $crv & $cvx tokens
they then use these to grow their own voting power to control rewards on both platforms cvx & crv .then using ohm mechanic rebasing system, the rewards REDACTED earns from crv & cvx will then be distributed to xBTRFLY holders.
8/
essentially, the larger the redacted treasury == more $CRV & $CVX voting power == more APY skewed in $BTRFLY favour == more profits for xBTRFLY holders.
essentially, the larger the redacted treasury == more $CRV & $CVX voting power == more APY skewed in $BTRFLY favour == more profits for xBTRFLY holders.
9/
within its first 1-2 weeks of launching REDACTED generated close to 75M dollars
22.3M in $OHM
22.6M in $CRV
28.4M in $CVX
#CRV locked up is now generating roughly 35k per day
#CVX lockup (happening now) looking to generate roughly 105k per day
within its first 1-2 weeks of launching REDACTED generated close to 75M dollars
22.3M in $OHM
22.6M in $CRV
28.4M in $CVX
#CRV locked up is now generating roughly 35k per day
#CVX lockup (happening now) looking to generate roughly 105k per day
10/
all yield $BTRFLY generates will be shared among the $BTRFLY stakes $xBTRFLY, aiming to keep high APY as the treasury farms $CRV & $CVX for more & more voting power to skew to the BTRFLY tokens favour
welcome to the btrfly effect & the beginning of the REDACTED forkszn 🦋
all yield $BTRFLY generates will be shared among the $BTRFLY stakes $xBTRFLY, aiming to keep high APY as the treasury farms $CRV & $CVX for more & more voting power to skew to the BTRFLY tokens favour
welcome to the btrfly effect & the beginning of the REDACTED forkszn 🦋
11/
REDACTED aims to be just a branch in the
@OlympusDAO
ecosystem allowing both to work in synergy, enabling $OHM to focus on being the reserve currency while $BTRFLY overthrows the & dominates $CRV wars & aids the godz of OHM
REDACTED aims to be just a branch in the
@OlympusDAO
ecosystem allowing both to work in synergy, enabling $OHM to focus on being the reserve currency while $BTRFLY overthrows the & dominates $CRV wars & aids the godz of OHM
original messed up thread bread
https://twitter.com/shill_turner/status/1473864998422077441?s=20
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