RIP57: Metamorphosis to Dinero Protocol

Redacted development team to reband the Redacted Protocol to Dinero Protocol and facilitate the migration of the DAO governance token from BTRFLY to DINERO on behalf of the Redacted DAO (the “DAO”).

With the DAO’s long term focus on developing full-stack infrastructure for layer 1 and layer 2 protocols through the Dinero Protocol, we propose rebranding the Redacted Protocol as the Dinero Protocol and replacing BTRFLY with DINERO as the governance token for the DAO, with the future Dinero stablecoin being known as pxUSD.

Simplifying and consolidating the DAO’s branding to align with its long term focus is imperative in facilitating the communication of the offering to new users and onboarding the next million users.

As part of the rebranding process, a new governance token, DINERO, will replace BTRFLY as the governance token of the DAO. Slight tweaks to token mechanics (described below) aim to significantly reduce complexity while facilitating adoption by users making it more attractive and accessible for all types of users, chains and integrations.

DINERO will replace BTRFLY as the governance token for the DAO:

• users will be able to migrate at a ratio of 1 BTRFLY to 2,000 DINERO
• rlBTRFLY will be replaced by DINERO staking
• other than the changes (redenomination, staking) set out above, tokenomics set out in the Redacted v2 tokenomics proposal, such as the emissions schedule and supply shares, will remain unchanged

Voting

• Redacted development team to rebrand the Redacted Protocol to Dinero Protocol and migrate from BTRFLY to DINERO on behalf of the “DAO”
• Do nothing