BTRFLY Token

BTRFLY Token Overview

What is BTRFLY?

The native cryptographically-secure fungible protocol token of Redacted (ticker symbol BTRFLY) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Redacted, and which is designed to be used solely as an interoperable utility token thereon.

BTRFLY is a functional multi-utility token which will be used as the native governance token and economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on Redacted, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts.

BTRFLY is an integral and indispensable part of Redacted, because without BTRFLY, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Redacted. Given that additional BTRFLY will be awarded to a user based only on its actual usage, activity and efforts made on Redacted and/or proportionate to the frequency and volume of transactions, users of Redacted and/or holders of BTRFLY which did not actively participate will not receive any BTRFLY incentives.

BTRFLY does not in any way represent any shareholding, ownership, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will BTRFLY entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in the British Virgin Islands, Singapore or any relevant jurisdiction.

BTRFLY may only be utilised on Redacted, and ownership of the same carries no rights, express or implied, other than the right to use BTRFLY as a means to enable usage of and interaction within Redacted. The secondary market pricing of BTRFLY is not dependent on the effort of the Redacted team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.

Remember to migrate from BTRFLY v1 to BTRFLY v2. Details here.

BTRFLY is the governance token of the Redacted ecosystem. It can be used to vote on Redacted governance proposals and locked for rlBTRFLY in order to engage with third party protocols to earn rewards in the form of BTRFLY and ETH.

A portion of the fees collected by the protocol is sent to the rlBTRFLY rewards pool, which would be allocated to active users which take part in governance voting, transacting on the platform, or campaigns by third party protocols.

Both rlBTRFLY and BTRFLY can be used to participate in governance. rlBTRFLY are worth five votes per rlBTRFLY while BTRFLY are worth 1 vote per BTRFLY.

How to get BTRFLY?

• Users can acquire BTRFLY on Uniswap, or by using a router like 1inch.

• Users can acquire BTRFLY by purchasing bonds on the Bond Protocol app.

What is BTRFLY's max supply?

BTRFLY's max token supply (as outlined in Tokenomics) is 650,000.

What is BTRFLY's current circulating supply?

For BTRFLY's current circulating supply, refer to Coingecko.