1: $BTRFLY // A thread
💰$30M cap
🏦 $Dinero stablecoin incoming
🌊LSD narrative
💵Real yield narrative
💰Multiple revenue streams
🐻Building during the bear
♻️Potential flywheel for $BTRFLY
Plenty more detail in the 15-part thread
💰$30M cap
🏦 $Dinero stablecoin incoming
🌊LSD narrative
💵Real yield narrative
💰Multiple revenue streams
🐻Building during the bear
♻️Potential flywheel for $BTRFLY
Plenty more detail in the 15-part thread
2: What is @redactedcartel?
Redacted is a pretty big project initially known as another $OHM fork with heavy emissions
They have since adjusted tokenomics and carved out a niche within the $CRV wars and the #bribes market
Redacted is a pretty big project initially known as another $OHM fork with heavy emissions
They have since adjusted tokenomics and carved out a niche within the $CRV wars and the #bribes market
3: Structure
Redacted operates on 3 levels:
🏦DAO level (Redacted Cartel) focuses on growing the ecosystem & treasury
🗳️dApp level (Redacted Protocol) is centred around $BTRFLY allowing users to stake, earn and vote
💰Product level (Hidden Hand, Pirex, Dinero) delivers revenue
Redacted operates on 3 levels:
🏦DAO level (Redacted Cartel) focuses on growing the ecosystem & treasury
🗳️dApp level (Redacted Protocol) is centred around $BTRFLY allowing users to stake, earn and vote
💰Product level (Hidden Hand, Pirex, Dinero) delivers revenue
4: Hidden hand 1/3
HH is the most known product in the arsenal for its heavy involvement in the $CRV wars
HH has attracted >$9M worth of bribes since launch
4% of bribes go to @redactedcartel as a fee
These proceeds are split 50/50 between Treasury and #rlBTRFLY
HH is the most known product in the arsenal for its heavy involvement in the $CRV wars
HH has attracted >$9M worth of bribes since launch
4% of bribes go to @redactedcartel as a fee
These proceeds are split 50/50 between Treasury and #rlBTRFLY
5: Hidden hand 2/3
So what are bribes?
Bribes are incentives to encourage delegators to vote in a certain way - usually directing $CRV pool rewards to the bribing protocol
Delegators who provide votes via HH 0 fees but receive incentives for votes
So what are bribes?
Bribes are incentives to encourage delegators to vote in a certain way - usually directing $CRV pool rewards to the bribing protocol
Delegators who provide votes via HH 0 fees but receive incentives for votes
6: Hidden hand 3/3 TLDR:
1. Projects offer bribes
2. HH takes 4% fee (2/2 to Treasury & rlBTRFLY)
3. Delegators vote & earn bribes
4. Bribing projects benefit from vote outcomes
#rlBTRFLY & Treasury gain 2% of bribes
Protocols gain rewards boosts from $CRV
WIN, WIN . . . WIN
1. Projects offer bribes
2. HH takes 4% fee (2/2 to Treasury & rlBTRFLY)
3. Delegators vote & earn bribes
4. Bribing projects benefit from vote outcomes
#rlBTRFLY & Treasury gain 2% of bribes
Protocols gain rewards boosts from $CRV
WIN, WIN . . . WIN
7: Pirex 1/2
🍬Pirex is a liquid wrapper which can be applied to any yield generating asset
🗳️It can enable auto-compounding & tokenization of future yield or voting equity
🤔More interesting still, is that there has been word from @0xSami_ that Pirex was made w $Dinero in mind
🍬Pirex is a liquid wrapper which can be applied to any yield generating asset
🗳️It can enable auto-compounding & tokenization of future yield or voting equity
🤔More interesting still, is that there has been word from @0xSami_ that Pirex was made w $Dinero in mind
8: Pirex 2/2
🧪Pirex has the ability to split the Principal Tokens (PT) from the Yield Tokens (YT)
💻This allows for flexible utility of the allocated YT for a number of applications
🤔Could it be leveraged to create a stablecoin with self-repaying, no liquidation loans?
🧪Pirex has the ability to split the Principal Tokens (PT) from the Yield Tokens (YT)
💻This allows for flexible utility of the allocated YT for a number of applications
🤔Could it be leveraged to create a stablecoin with self-repaying, no liquidation loans?
9: $Dinero 1/3
There is a lot of speculation on this across CT
Reports are that Dinero aims to be highly decentralised and over-collateralised
It will also be tied to the #LSD narrative
Our friend @MStiive has some brilliant thoughts on this (links in final tweet)
There is a lot of speculation on this across CT
Reports are that Dinero aims to be highly decentralised and over-collateralised
It will also be tied to the #LSD narrative
Our friend @MStiive has some brilliant thoughts on this (links in final tweet)
10: $Dinero 2/3
There are rumours of $Dinero acting as a 'gas token' for premium blockspace
This would allow users to 'bribe' the Redacted Validator to run transactions privately
We believe this would allow tx to bypass the public mempool and avoid MEV/Frontrun attacks
There are rumours of $Dinero acting as a 'gas token' for premium blockspace
This would allow users to 'bribe' the Redacted Validator to run transactions privately
We believe this would allow tx to bypass the public mempool and avoid MEV/Frontrun attacks
11: $Dinero 3/3
If Dinero bribes do occur, then it could lead to a few outcomes;
📈More demand for $dinero
💰Potential auctions for Premium Blockspace
🏦@redactedcartel accumulates $dinero
🦋 $dinero shared 50/50 between #rlBTRFLY & Treasury
🔒More $BTRFLY locked for #rlBTRFLY
If Dinero bribes do occur, then it could lead to a few outcomes;
📈More demand for $dinero
💰Potential auctions for Premium Blockspace
🏦@redactedcartel accumulates $dinero
🦋 $dinero shared 50/50 between #rlBTRFLY & Treasury
🔒More $BTRFLY locked for #rlBTRFLY
12: Tokenomics 1/2
@redactedcartel is all about revenue generation and at all stages provides real yield back to #rlBTRFLY wherever possible
With this in mind, it's not hard to see why over 80% of $BTRFLY is currently locked for #rlBTRFLY
@redactedcartel is all about revenue generation and at all stages provides real yield back to #rlBTRFLY wherever possible
With this in mind, it's not hard to see why over 80% of $BTRFLY is currently locked for #rlBTRFLY
13: Tokenomics 2/3
🤔We've mentioned #rlBTRFLY a lot but what is it? Revenue Locked $BTRFLY
🦋It's what you receive for staking your $BTRFLY for 16 weeks
💰Holding #rlBTRFLY entitles you to earn a share of Protocol revenue
🤔This is where $dinero gets really interesting to us
🤔We've mentioned #rlBTRFLY a lot but what is it? Revenue Locked $BTRFLY
🦋It's what you receive for staking your $BTRFLY for 16 weeks
💰Holding #rlBTRFLY entitles you to earn a share of Protocol revenue
🤔This is where $dinero gets really interesting to us
14: Tokenomics 3/3
🔒Over 80% of $BTRFLY is already locked
⌛️And all locks are minimum of 16 weeks
🤔So what happens if $dinero gains traction and @redactedcartel starts earning $dinero bribes?
💰And half of those bribes go back to #rlBTRFLY holders?
#Supplyshock
🔒Over 80% of $BTRFLY is already locked
⌛️And all locks are minimum of 16 weeks
🤔So what happens if $dinero gains traction and @redactedcartel starts earning $dinero bribes?
💰And half of those bribes go back to #rlBTRFLY holders?
#Supplyshock
Links:
@MStiive Thread
@MStiive Dinero Speculation
Our 5-Page Report on @redactedcartel and $BTRFLY
@MStiive Thread
https://twitter.com/MStiive/status/1610884361506938880?s=20&t=yAAdmARGE6kZ34LrBFLwcw
@MStiive Dinero Speculation
https://twitter.com/MStiive/status/1610609977726730242?t=avKPiADuUlSBtO_JSaidmw&s=19
Our 5-Page Report on @redactedcartel and $BTRFLY
https://twitter.com/AstrologyCrypto/status/1611157197194678272?s=20&t=A9qvI61VNRPOy89F4tIAWQ
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