Redacted launched two and a half years ago. Since then, we've evolved alongside the industry, building sustainable products that solve real problems in DeFi. However, our evolution has made it difficult for users and partners to understand what we do. Where we are today is quite different from where we started.

Rebranding to Dinero marks the beginning of a new era. And it’ll be sad to retire a beloved brand, but we believe these changes are essential for emphasizing our new focus going forward.

Why Switch to Dinero?

We started building the Dinero protocol in late 2023 because we saw an opportunity to create a synergistic protocol that gives users high yield, a decentralized medium of exchange, and a permissionless transaction relayer to protect users from MEV.

For us, Dinero represented a new approach to building products. We are no longer focused on the long tail of the DeFi risk curve. Instead, we’re entering the arena with some of the largest projects on Ethereum.

Adding Dinero to our already expansive product suite, however, only confused our narrative.

While the breadth and depth of our product suite were great, explaining it to a new Ethereum/DeFi user was challenging. To solve this, we decided to identify our biggest opportunity and go all-in on Dinero.

The DAO unanimously agreed to rebrand Redacted to Dinero to emphasize our new focus, change the token from BTRFLY to DINERO, and name the future stablecoin pxUSD.

This shift simplifies our narrative significantly:

Going forward, the vast majority of our focus will be on making Dinero the yield baseplate of Ethereum (and beyond).

Pirex and Hidden Hand

While Dinero will be our primary focus, Pirex and Hidden Hand will continue to operate as normal for the most part.

Hidden Hand will continue under our stewardship but will now have its own marketing channels, dapp, and documentation. You can follow Hidden Hand on X here to stay up to date.

Pirex will undergo the most change:

• pxCVX will be fully operated by our close partners, Llama Airforce – including the UI. We’ve worked with them from day one of Pirex and are trusting them with the service going forward. No action is required from users and the current Pirex dapp will stay up for the time being.

• pxGMX will operate as normal for now but may be deprecated in the future. We’ll keep everyone updated about this moving forward. No action is required from users at this time.

• pxBTRFLY will be deprecated, as it will no longer be needed once we migrate the token from BTRFLY to DINERO. All pxBTRFLY users will be able to migrate directly to DINERO using the new Dinero dapp on 7/22. No action is required at this time.

BTRFLY to DINERO Token Migration

⚠️ Beware of any fake token announcements and migrations. We will announce all communications from official channels ⚠️

As mentioned, part of the rebrand includes migrating the BTRFLY token to DINERO with slightly different tokenomics. The key changes include a new ticker (of course), a migration ratio of 1 BTRFLY to 2,000 DINERO, and a simpler staking mechanism. You can find all changes here.

This migration will happen on 7/22/24. Staked DINERO rewards will begin on Tuesday, 7/23, after the migration and there will be no fees (from Pirex, rlBTRFLY, or otherwise) for migrating BTRFLY.

When the migration is live, we’ll make another announcement with full details and steps for users. For now, no action is required.

Stay Up to Date

We have also updated our Discord URL to https://discord.gg/dineroxyz — DO NOT join any other servers claiming to be affiliated with Dinero/Redacted.

As part of this rebrand, some of the URLs and handles you’re used to visiting have changed:

• https://dinero.xyz is our new home page

• @dinero_xyz is our new X handle

• @HiddenHandFi will be used for Hidden Hand

• The current Redacted home page and dapp will stay up for now