Dinero-PirexETH
Dinero-PirexETH is a protocol designed to bring together ETH staking, block creation, an RPC, and other features into a single, synergistic protocol.
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- Documentation
- Auditors
- Please see our FAQ on experienced auditors
- Website
- Token: BTRFLY
- Tags: Staking
- TVL: $132M (Rank #79)
- TVL Ranking by Staking: #0
- Blockchain: Ethereum
- Chain TVL
- Ethereum: $131.97M
- Code reviewed by several experienced auditors; Spearbit and Pashov
- Anonymous team reduces transparency
- No documented protocol hacks since launch
- 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
- No death spiral concerns
- This protocol is susceptible to risks related to staking a token to secure a network, such as slashing events
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.
