Dinero-PirexETH

Staking

Dinero-PirexETH is a protocol designed to bring together ETH staking, block creation, an RPC, and other features into a single, synergistic protocol.

Risk Rating
Average
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Pirex ETH’s innovative approach merges high liquidity with enhanced yields through its two-token system, catering to various user preferences within the DeFi space.
What we like less
The two-token system introduces complexities and might feel intimidating to new users. Additionally, some risk is associated with reliance on peg stability and validator performance.
What it means for you
Pirex ETH presents a unique opportunity to maximize ETH returns through a flexible staking system while engaging in cross-chain activities.
Information
Exploit/Hacks
None
Info
  • Website
  • Token: BTRFLY
  • Tags: Staking
Key Metrics
  • TVL: $32M (Rank #113)
  • TVL Ranking by Staking: #0
  • Blockchain: Ethereum
  • Chain TVL
    • Ethereum: $32M
Risk Assessment
Average
Protocol Code Quality
  • Code reviewed by several experienced auditors; Spearbit and Pashov
  • Anonymous team reduces transparency
  • No documented protocol hacks since launch
Protocol Maturity
  • Latest protocol version launched in 2023; maturity less than six months increases technical risk as smart contracts are less battle-tested
  • Top 20% by total value locked slightly reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of at least 4 signers, which means the protocol is less susceptible to centralization risks
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
Things to know about Dinero-PirexETH

What is Dinero-PirexETH

Dinero-PirexETH is an Ethereum liquid staking solution built on the innovative two-token system of pxETH and apxETH. Users deposit ETH and receive pxETH, which maintains a 1:1 peg with ETH, providing liquidity and access to various DeFi opportunities. For those seeking higher returns, pxETH can be converted into apxETH through an auto-compounding vault, enhancing staking yields since apxETH accrues rewards from a larger pool of staked ETH. This mechanism allows users flexibility in managing their staking strategies and liquidity, catering to diverse investment preferences within the Ethereum ecosystem. This system supports ETH withdrawals either directly or through an incentivized withdrawal pool, accommodating for real-time market demands and validator activity.

How Dinero-PirexETH makes money

Dinero-PirexETH generates revenue through various fees associated with its ecosystem. This includes a 10% yield tax on earnings, a 0.03% fee for standard withdrawals, and a 0.5% fee for instant redemptions through the ETH buffer. There is no charge for depositing or exiting the apxETH vault. These fees contribute to the operational and developmental funding of the Redacted DAO and benefit rlBTRFLY holders by distributing a portion of the revenue to them.

How you make money on Dinero-PirexETH

Investors can earn money on Dinero-PirexETH by staking their ETH to receive pxETH, which then can be converted into apxETH for higher staking yields. Additionally, users can engage in yield stripping to tokenize future earnings or participate in DeFi activities such as liquidity provision, leveraging pxETH's liquidity. The platform's design allows for multiple income streams from staking, trading, and leveraging opportunities within its ecosystem.

Dinero-PirexETH Pools
Dinero ETH Staking
7.6%
Yield
$32M
TVL
Risk
B
Chain
Ethereum