Pirex wrapper for BTRFLY.

Pirex BTRFLY is a Pirex offering that simplifies the management of rlBTRFLY positions. It offers two options, pxBTRFLY and apxBTRFLY, which automate the locking and reward management process for users who lock their BTRFLY tokens in the Redacted protocol.

What is the main purpose of Pirex BTRFLY?

Pirex BTRFLY streamlines the management of rlBTRFLY positions by automating the locking and reward management process.

How does Pirex BTRFLY help with rlBTRFLY locks?

Pirex BTRFLY automatically manages rlBTRFLY locks by relocking earned BTRFLY rewards and handling lock expirations for users who use pxBTRFLY or apxBTRFLY.

Can I still manually manage my rlBTRFLY positions while using Pirex BTRFLY?

Yes, you can choose to manually claim and manage your rlBTRFLY rewards if you use pxBTRFLY. However, apxBTRFLY offers a completely hands-off experience by automating the entire process.

What can I expect from using pxBTRFLY?

Using pxBTRFLY will automatically relock your deposited balance, but any BTRFLY and WETH rewards you receive must be manually managed.

pxBTRFLY will not relock BTRFLY rewards you receive, you must redeposit these into pxBTRFLY yourself.

What are the benefits of using apxBTRFLY over pxBTRFLY?

apxBTRFLY not only automates the management of rlBTRFLY locks like pxBTRFLY, but also converts earned WETH rewards into more BTRFLY and locks it as rlBTRFLY automatically.

Is there a fee for using Pirex BTRFLY?

Yes. The fees are as follows:

  • 5.0% rewards fee

  • 5.0% compounding fee

  • Redemption fee:

    • 0.0% if you redeem after your deposit unlocks

    • 5.0% if you try to unlock early (subject to availability)

  • 1.0% exit fee which does not go to Pirex. Instead, this exit tax is shared by all vault users and is used to disincentivize those entering the vault and leaving before contributing to any of the streamed rewards (i.e., before one full Pirex epoch).

Last updated