Buy Redacted (BTRFLY)
What is Redacted?
Redacted is a decentralized finance (DeFi) protocol operating on the Ethereum blockchain. It offers a suite of smart contracts that provide on-chain liquidity, governance, and cash flow management. The BTRFLY token powers Redacted, which acts as a decentralized pseudo-hedge fund by using its capital to acquire other cash flow-generating protocols and offering liquidity management services to DeFi projects.
How does Redacted work?
Redacted functions through a set of smart contracts on the Ethereum blockchain, which is known for supporting decentralized applications through its Proof of Stake consensus mechanism. The protocol accumulates governance power and manages on-chain liquidity via smart contracts like BTRFLY V2, rlBTRFLY, Hidden Hand, and Pirex. Users lock their BTRFLY tokens for governance participation, and the protocol utilizes bribes and yield opportunities to manage governance efficiently.
What are the potential use cases for Redacted?
The potential use cases for Redacted include:
- Liquidity Management: Offering liquidity services through products like Hidden Hand and Pirex.
- Governance: Enhancing governance processes with vote participation and governance incentives.
- Cash Flow Generation: Utilizing capital to acquire governance tokens and invest in other protocols.
- Stablecoin Management: Through Dinero Protocol, enhancing governance token utility.
- Yield Farming: Utilizing treasury assets for revenue generation and enhanced liquidity.
What is the history of Redacted?
Redacted began as an experiment in growing protocol-owned liquidity within the OlympusDAO ecosystem. The project gained traction with the rollout of Hidden Hand in 2022, expanding into various DeFi ecosystems and gaining partnerships with numerous protocols. Significant updates include a shift from a bonding model to a revenue-sharing model, the introduction of revenue-locked BTRFLY, and the upcoming Hidden Hand v2 launch which expands the protocol's capabilities across additional blockchain networks.
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Frequently Asked Questions (FAQs)
What is the current price of Redacted (BTRFLY)?
The Redacted price is $300.18 AUD, representing a -13.32% from the day prior.
Where is the best place to buy Redacted (BTRFLY) in Australia?
The best place to buy Redacted (BTRFLY) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Redacted (BTRFLY) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Redacted (BTRFLY)?
The trading volume of Redacted (BTRFLY) is $5.3K AUD in the last 24hrs, representing a -13.32% from the day prior.
How can I buy Redacted (BTRFLY)?
Redacted (BTRFLY) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Redacted (BTRFLY)?
The current market cap of Redacted (BTRFLY) is $7.3M AUD.
Can I convert Redacted (BTRFLY) to cash?
Yes - With Coinstash you can convert your Redacted (BTRFLY) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Redacted (BTRFLY) are there?
The current circulating supply of Redacted (BTRFLY) is 24.7K.
Is Coinstash a safe place to buy Redacted (BTRFLY) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Redacted (BTRFLY) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.