Author: D Analyst

What is it?

Hidden Hand is Redacted Cartel’s permissionless bribes marketplace for protocols to create a secondary market for their native veToken.

How it works?

The Hidden Hand protocol is a marketplace where external protocols can offer bribes to token holders. Participants will be able to pick from a variety of partner protocols to receive bribes for utilizing their governance rights.

In exchange for this service, Redacted Cartel receives a 4% fee from the market activity. This fee is distributed 50/50 between the Cartel’s treasury, to increase the backing of $BTRFLY, and rlBTRFLY (revenue-locked BTRFLY) holders. As the platform generates a fee from each bribe, the Hidden Hand will be free for voters to use.

The diagram above illustrates the following:

1. External Protocols offer a reward to Hidden Hand participants in exchange for voting rights
2. veToken holders can delegate their tokens to Hidden Hand platform and receive bribe rewards
3. rlBTRFLY holders will receive 2% fees from transactions and also a portion of the Cartel treasury profits as rewards

After transitioning to V2, Redacted will be diverging from the rebasing model and transition towards a fixed token supply. Value accrual will come from taking advantage of the vote-escrow model and receiving bribe rewards.

BTRFLY holders will have the option to lock their BTRFLY as either rlBTRFLY (revenue-locked BTRFLY) or glBTRFLY (governance-locked BTRFLY)

rlBTRFLY (Revenue-Locked):

• The most practical use for retail users looking to receive their in-flow of bribes
• Generates revenue by the protocol through bonds and yield

glBTRFLY (Governance-Locked)