Status: Snapshot PASSED
Summary: Establish a partnership between FloorDAO and Redacted Cartel via Redacted’s Hidden Hand and its forthcoming platform, Pirex.
Background on Redacted Cartel: Redacted Cartel aims to extend its influence across the broader DeFi ecosystem through Its native token, BTRFLY, which acts as a liquid wrapper for key governance assets. Although Redacted is 4 months old, it has amassed over 1,400,000 CVX in its treasury (top 5 DAO) and has used its power to create strong relationships with the Terra and FRAX ecosystem. Redacted is continuing to explore and open up its treasury to other strategic assets, such as TOKE, FXS, CRV.
Outside of bonding, Redacted has recently launched Hidden Hand, a multi-chain bribe marketplace, with Ribbon, Frax, and Balancer. Find the link to Hidden Hand here: https://hiddenhand.finance/. All bribes will be subject to a 4% fee. Half of this fee will be sent to the Redacted Treasury, creating a secondary catalyst to allow for BTRFLY to become a liquid wrapper for its partners. The other 2% will be sent directly to BTRFLY stakers when “revenue-locked” BTRFLY goes live.
In the coming weeks, Redacted will be launching Pirex, a new incentives platform for vote-locked tokens that will introduce a secondary marketplace for cash flows. Through Pirex users will have the ability to tokenize the discounted cash flow of future earnings. Pirex will initially launch for vlCVX holders, with more partners integrating on a rolling basis. Find a link to Pirex here: https://www.pirex.io/ (hint type: cat abstract.txt).
Partnership with FloorDAO: Following the recent FloorDAO vote, it has become apparent that there is a need to create a marketplace for FLOOR holders to visualize and accept bribes from NFT communities, without the need for OTC bribing. A formal partnership with Redacted will include:
- Integration with Hidden Hand:
- Communities/Projects can bribe FLOOR holders for votes
- FLOOR holders can visualize and accept bribes all under one clean UI
- Future integration with Pirex and upcoming products
- Following the launch of Pirex and a mature bribe market for FLOORDAO, integration with Pirex would create a liquid market for future FLOOR bribes.
For: Approve proposal for Snapshot
Against: Amend proposal