Redacted

Overview

Redacted is a protocol launched in late 2021 as a fork of OlympusDAO, operating on the Ethereum blockchain. The project aims to build a decentralized reserve currency system through its BTRFLY token.

Purpose and Utility

The primary intended utility of BTRFLY is to serve as a governance token for the Redacted Cartel ecosystem, allowing holders to vote on protocol decisions and treasury management. The protocol also implements a bonding mechanism where users can provide liquidity in exchange for discounted BTRFLY tokens.

Business Model Analysis

The protocol generates revenue through its treasury management activities and protocol-owned liquidity. These activities involve legitimate asset exchange and value creation through market making and liquidity provision.

Real-World Adoption

The protocol maintains active governance participation and treasury management operations. The project has established partnerships with other DeFi protocols and maintains protocol-owned liquidity positions across various decentralized exchanges.

Technical Development

The protocol demonstrates ongoing development activity with regular updates to its smart contracts and user interface. The core technology revolves around treasury management and governance mechanisms, which are built on established blockchain infrastructure.