Cover Image for Redacted Cartel

Redacted Cartel

Redacted Cartel is a DAO built on Ethereum. It aims to accumulate governance power in protocols crucial to DeFi. The DAO is also building out products to improve the DeFi infrastructure and capital efficiency. Hidden Hand – a bribe marketplace - used by Balancer, Frax, and Tokemak. Pirex creates liquid wrappers with a multitude of benefits for otherwise locked tokens.







Yield Bearing



Token Strength.

Token Utility:

Revenue sharing: $BTRFLY can be locked for 4 months to receive a share of revenue generated by the protocol and its products.

Governance: $BTRFLY holders can vote on proposals and decisions related to the protocol's development and management.

Protocol fees: $BTRFLY can be used to pay for fees associated with using the protocol's services.

Staking rewards: $BTRFLY can be staked to earn additional rewards.

Liquidity provision: $BTRFLY can be used to provide liquidity to the protocol's liquidity pools and earn trading fees.

Demand Driver:

Cash flow:
Investors seeking cash flow from the protocol's revenue streams.

Token holders who want a say in how the treasury is managed.

Curve Wars:
Investors interested in the protocol's role in the ecosystem and its potential impact on the outcome of the Curve Wars.

Value Creation:

Redacted Cartel provides a turnkey, low-cost bribe marketplace for protocols with ve tokens. 
Redacted creates value for retail investors through the Pirex platform, providing liquid wrappers for locked tokens. Retail users benefit from the auto-compounding of rewards, unionising of gas fees. 
These benefits leverage capital-efficiency allowing low gas usage.

Value Capture:

The Cartel currently takes 4% of all bribes placed on the Hidden Hand platform as a fee. Pirex also takes 4%, but of the accumulated bribe revenue. Additionally, Pirex also takes the additional platform fees that vlCVX positions receive on Convex. The treasury also generates a yield on the assets it holds, further adding to the value captured by the Redacted protocol.

Business Model:

The business model for the Redacted:

Revenue comes from:
Generating a yield on the treasury's assets
Taking a percentage of bribes placed on the Hidden Hand platform
Receiving fees from users using the Pirex platform

Revenue is denominated in:
Whatever asset the bribes and PoL are denominated in

Revenue goes to:
42.5% of Pirex revenue goes to $BTRFLY lockers
50% of Hidden Hand revenue goes to $BTRFLY lockers
15% of the yield generated by the treasury goes to $BTRFLY lockers


Protocol Analysis.

Problems & Solutions
The DeFi ecosystem lacks sufficient governance power distribution and efficient capital utilization. Investors may miss out on opportunities due to limited access, limiting DeFi's potential for growth and development.

Redacted Cartel's DAO model enables collective governance power accumulation. 
Syndicate DAO - A DAO focused on providing liquidity to decentralized exchanges through market-making strategies.
The LAO - A venture DAO that invests in early-stage blockchain projects and startups.
Yam Finance - A decentralized finance project that offers yield farming, trading, and governance features through its protocol.

Investment Take

... coming soon

Tokenomics Timeline.

  1. 2021-11-11

    DAO Launched

  2. 2021-12-27

    CVX Bonds Launched

  3. 2022-01-06

    Votemak Acquisition

    Votemak (the current base infrastructure of Hidden Hand today) was acquired

  4. 2022-03-18

    Pirex Announced

  5. 2022-08-09

    V2 Launched




Ecosystem Users.