Author: 71sim12

Redacted was launched on December 15 2021 through a TBE that ran for less than 48 hours - until the available tokens sold out.

The TBE was an alteration of a dutch auction with a linearly falling price, with commitments made in CVX, CRV or OHM.

In this slight alteration, the price was set at a higher value per token than justified to mitigate against bots and descends over time, with the eventual price being settled on once all tokens have been sold. Practically, this meant participants individually decide at which point they're happy with a token price and commit their funds - yet the auction continues until everyone is happy with the token price. Are you a technical fan of dutch auctions and TBE? Find more details here.

Ok ser, but how did it go?

The TBE went sold out and the cartel raised $73,267,961 in CVX, CRV and OHM in less than 48 hours. You can find all the details in this Dune dashboard by @ethpanda (among many other Redacted metrics) at a final VWAP of $733 per $BTRFLY, which was also the debut price of the $BTRFLY token.

https://lh5.googleusercontent.com/ULgqQbDtsNR6S19KjXxxd2Rhyjtr_dHQXemdqSCthnrbsQE8YQVse3-5jR-seoanYoIvLzZO-IhtNbubqfTIfoQxeOwdStH-dWs4AnHfLbctn5AxMow7-Luw7KGxRbUq0c3Ma017hg

https://lh3.googleusercontent.com/OPUkO5ghxCt71YSCXabdHwqgMVzo1v-hoheoQ68Au38sipUZiyMJCFYsyEfCK1by3KwqRQF0beDrNHBAAuCpsN_ASyKf3sJYNBM5svgatMlY0Xz8CVIAroNID7xiNiBCB446AC81BQ