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HomeCOINSRedacted (BTRFLY) Coin Guide & Detailed Review

Redacted (BTRFLY) Coin Guide & Detailed Review


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About Redacted

The Redacted ecosystem is a product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols. They’ve built two products inline with this mission: Hidden Hand and Pirex — with more in research and development. The Redacted protocol is the dApp centered around BTRFLY, which allows users to stake, earn incentives, and interact with governance proposals. The Cartel is the DAO building out the Redacted ecosystem.

The DAO consists of developers, writers, researchers, and more who are all focused on building out BTRFLY and extending its reach in DeFi. Beneath the core products of Pirex and Hidden Hand, the protocol accrues its protocol-owned liquidity and protocol controlled value leveraging a bonding mechanism to build its reserve of governance tokens to increase its influence over the DeFi market.

Redacted Basic Points Table

Coin BasicInformation
Coin NameRedacted
Short NameBTRFLY
Circulating Supply44,189.88 BTRFLY
Total Supply44,190
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Who Are The Founders of Redacted


What is bonding?

Bonding allows Redacted to acquire its own liquidity and other reserve assets such as CVX, OHM, FXS and more by selling BTRFLY at a discount on the current market valuation in exchange for these assets. The protocol automatically quotes the counterparty with terms such as the bond price, the amount of BTRFLY tokens entitled to the bonder, and the vesting term.

The bonder can claim the BTRFLY tokens as they linearly vest, and at the end of the vesting term, the full amount can be claimed. The discount of these bonds is based on a lever built into the protocol that has been implemented with the help of the Olympus team. Bonded tokens are then locked inside the Redacted treasury, and invested based on optimized yield strategies.

When bonding, the protocol will quote the purchaser with terms such as the price, the amount of BTRFLY tokens the purchaser is entitled to, and the vesting term. The rewards accumulated will be available to claim when the user unstakes their BTRFLY. The longer the period staked the larger the compounding effect of the yield. This allows users to have flexibility over their investing approach, choosing between a short, medium and long investment term.

Voting power

The bonded assets will be stored in the treasury, with all treasury token rewards compounded to accumulate voting power. The pricing of these bonds will follow the concept of a dutch auction where the discount increases if there is a lack of demand for bonding. As soon as a purchase is made, the price will increase dramatically, and will proceed to incrementally decrease until another buyer emerges. This process continues in perpetuity, allowing the market to determine an appropriate price without the use of an Oracle.

Bonds take roughly 15 epochs to vest, and BTRFLY tokens are vested linearly to the user over that period. The protocol builds its core reserves through three type of bonding markets, strategic asset bonding, liquidity bonds, and thecosamata bonds. These three bonding primitives help ensure the protocol can accumulate and lock liquidity and governance power.

Why Choose Redacted

Hidden Hand by Redacted is a marketplace for governance incentives, commonly referred to as “bribes”. Protocols can leverage Hidden Hand to enable more efficient governance processes and to engage their voters. While users can earn extra yield on their favorite vote-escrowed governance tokens through bribes. Hidden Hand is a flexible marketplace for nearly all DeFi protocols to get more value for their token holders and expedite the process of creating demand for their ve-Tokens. For Redacted, Hidden Hand presents a diversified revenue stream for BTRFLY.

Protocols deposit a bribe into the Hidden Hand smart contract, which are sent back to users as a reward for their voting power. They will be extending the use-case out in a permissionless manner where any protocol can create a bribe marketplace for their token. For voters there is no cost to using Hidden Hand, instead the Redacted protocol generates revenue by taking a fee from each bribe. The fee is currently set to 4% where half is sent to the treasury and half is sent to lockers of $BTRFLY for locking their tokens in the protocol.

Where Can You Buy Redacted (BTRFLY)?

Redacted Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V3), As It Has The Highest USDC/BTRFLY.e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include USDC/BTRFLY And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Redacted Market Screenshot

Redacted Supported Wallet

Several Browser And Mobile App Based Wallets Support Redacted. Here Is Example Of Wallet Which Support BTRFLY – Trust Wallet For Hardware Ledger Nano.

FAQ Of Redacted

Where I Can Find Redacted Whitepaper?

You Can Find Redacted Whitepaper By Clicking Here

Where I Can Buy/Sell Balancer Token?

You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – Uniswap (V3),Uniswap (V3),Uniswap (V3),Balancer (V2).

What is Circulating Supply Of Balancer Token?

Circulating Supply Of Balancer Token Is 44,189.88 BTRFLY.

Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .

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Redacted (BTRFLY) Coin Guide & Detailed Review About Redacted The Redacted ecosystem is a product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols. They've built two products inline with this mission: Hidden Hand and Pirex — with more in research and development. The Redacted protocol is...