Redacted Files #25
Welcome to the latest edition of the Redacted Files. With the pxETH testnet deployment and whitepaper just around the corner, the anticipation is building.Soon™
The team will unveil pxETH in its entirety and test its full capabilities. This plus much more to cover in this week's Redacted Files. Let's get into it everybody.
Pirex Updates
pxETH
Busy times at Redacted as we gear up for the pxETH whitepaper and testnet launch. The team is going over everything with a fine tooth comb to make sure the final product is the best it can be. The code audit began this week, and we're awaiting initial results. Notably, with its testnet launch, this is Redacted's first product that involves the community directly in the testing phase.
I've packed my bags for the journey, have you? (NFA)
pxBTRFLY
Another week down and some great news for Pirex BTRFLY. We’ve crossed 1M$ in BTRFLY deposits! Looking back, it didn't take long for users to transition after the latest batch of unlocks. Great job everyone.
Hidden Hand Updates
As Hidden Hand’s bribe volume grows week over week, the platform is nearing another significant milestone. Keep an eye out for the $25M mark! Probably nothing…
Community Updates
Olympus
Those familiar with Redacted will remember our connection with the Olympus protocol. When Redacted launched, we introduced a new way to get BTRFLY through multiple bond opportunities, one of which involved OHM. At inception, Olympus protocol was granted 10% of the BTRFLY supply, set to be vested over the future.Since then, things have changed.Both protocols took different paths, making our original partnership goals hard to keep. It's not a bad thing, just different directions. After many discussions, both teams have decided to go separate ways. We've agreed on terms that are good for both sides.
Both proposals need approval from their respective token holders and community on Snapshot. So far, discussions have been positive. We value our community and how we act. Let's stay positive when entering with the Olympus folks and keep building for the future.
New Order
New Order is a Web3 incubator that had a hand in the initial creation of Redacted. For the service, New Order received 4% of the total supply of BTRFLY, set to be vested over time. However, they are undergoing a transition and have proposed a merger with Synonym Finance, a cross-chain money market.
This could open up some new opportunities for BTRFLY and pxETH in the future. With the team not planning to sell, this merger could bring more users and value to Redacted’s products. To understand everything at play, and to make your opinion heard, head to the Commonwealth post and check out the proposal.
Governance
No new updates outside of the Olympus proposal.
Community Call
This week's community call went off without a hitch. Covered this week was the much anticipated pxETH whitepaper and testnet deployment. Also, 0xSami put in his take on the recent developments and proposals for Olympus and Redacted to part ways amicably. All very good things as far as each of the protocols are concerned and a great step into the future. To get caught up on the newest updates, listen to the recording on the Redacted YouTube channel.
See you guys at the next one.
Now a word from our discord in anticipation of things to come.
“I look for whether the team (and community) is egoic or immature or deceptive. not saying others should do the same, just how i navigate. happily redacted are visionary chads with integrity, and rare as that is, i am all in. nfa.”
Important Links - 🐛♻🦋
Contributors: EthHunter, Figgy, Kolten
“Time Flies in Dinero”