Reflecting on the year gone by is becoming a tradition. We did it last year, so we might as well keep it going. There’s a lot to be celebrated and a lot to look forward to, so let’s get started.

2022 was marked by a brutal bear market brought on by the collapse of some of crypto’s biggest entities. In 2023, things started turning around. BTC, ETH, SOL, and other majors are grinding up from the lows, there’s ETF conversations, capital is quietly flowing back into DeFi, and sentiment is far better than it was 18 months ago.

The good news is that we’re still early as f███ in this cycle and we’re looking forward to what 2024 has in store.

It’s no secret: Hidden Hand has become DeFi’s go-to bribe marketplace. Almost every DeFi project that uses gauges uses Hidden Hand. We’ve expanded it across 13 partners, with PancakeSwap recently joining as the 14th. As for projects bribing through Hidden Hand… we’ve lost count. Projects new and old all make their way to Hidden Hand when they’re looking to tap into the influence economy.

In last year’s blog post, Hidden Hand had facilitated around $9 million in bribe volume. Since then, cumulative bribe volume has climbed past $24 million. That means Hidden Hand processed over $15 million in bribe volume in 2023 with no additional incentives from our end.

Aura and Balancer, responsible for millions in bribe volume, are still Hidden Hand’s biggest markets. We covered them and the importance of BIP-19 last year, so we’ll save you the reading this time. That said, Bunni and Prisma have also emerged as popular markets, each responsible for a decent chunk of the total bribe volume. These markets have proved that Hidden Hand is viable across multiple types of products such as yield optimizers and stablecoins. We expect this trend to continue into the new year.

2023 reaffirmed that influencing gauge outcomes is still a crucial growth strategy for many DeFi projects. In 2024, we’ll continue to expand Hidden Hand across multiple chains and protocols as needed. It’s a critical piece of DeFi infrastructure and the DAO is committed to its success.

Learn more about Hidden Hand here.

Pirex also experienced notable growth over the past year. Pirex CVX continued to attract deposits and we expanded the portfolio with the launch of Pirex GMX/GLP and Pirex BTRFLY.

Pirex CVX really stood out this year, doubling its total value locked. It's now holding over 3.3 million CVX, worth about $12.5 million, solidifying its position as the most popular liquid vlCVX wrapper with no BTRFLY incentives.

If you’re new to vlCVX, here's the gist: vlCVX is used to participate in Convex’s gauge votes, but it requires users to lock their CVX for an extended period of time. Plus, chasing extra yield requires effort — choosing votes, handling rewards through Votium, etc. Pirex CVX simplifies all this. It manages the intricate parts for users and offers the freedom to exit anytime through the pxCVX/CVX Curve pool. Easy and flexible.

Check out Pirex CVX here.

Pirex GMX/GLP gained momentum too, attracting just shy of 15,000 GMX (~$738,000) and 128,000 GLP (~$150,000).

What makes Pirex GMX stand out is its handling of multiplier points, which benefit all users, especially those who are “late” to GMX staking. If you’re unfamiliar with GMX staking and multiplier points, think of it like a loyalty program – the longer you stake, the more value you get.

Since all of the GMX deposited to Pirex is permanently locked, the multiplier points increase indefinitely.  Meaning users benefit from outsized yield on their staked GMX, regardless of when they deposit to the vault. If you’re a GMX holder, it’s worth considering.

Check out Pirex GMX here.

Pirex BTRFLY – launched this year – was born out of community demand, following the successful transition from xBTRFLY to rlBTRFLY in 2022. Since launch, it’s attracted over $2 million in deposits, thanks to its ability to simplify the management of rlBTRFLY positions.

Pirex BTRFLY takes the hassle out of the BTRFLY locking process by automatically managing rewards and relocking BTRFLY for you when your locks expire. It has emerged as a popular choice for users looking to avoid gas costs since claiming rewards, compounding, and relocking can be expensive. Please note: Using rlBTRFLY sacrifices your ability to participate in governance, so choose wisely!

Check out Pirex BTRFLY here.

Dinero started as an idea at the end of 2022 and we spent all of 2023 building it. We ultimately decided that the Dinero protocol requires a phased rollout: Launch Pirex ETH, our liquid staking solution, then the DINERO stablecoin, then the Redacted Relayer.

A few weeks ago we launched Pirex ETH. For the new readers, Pirex ETH is a two-token system built around ETH staking, consisting of pxETH and apxETH, tailored for different user preferences. This design gives users a choice: pxETH for liquidity or apxETH for boosted ETH staking yield. For a detailed overview read here.

Since launch, over 1,250 ETH has been deposited to Pirex ETH and we’re in the process of expanding pxETH’s reach throughout DeFi. pxETH is already available and earning gauge rewards from multiple sources including Curve, Convex, Balancer, Aura (soon), and Bunni. Go farm that yield.

Over the next year we’ll be spending time and resources growing Pirex ETH. Dinero is the future of Redacted and we’re excited to see it through.

Take a look around here.

In 2023, we were busy getting ready for the Dinero launch. Now that the Dinero rollout has begun, our priority for the next year is growth. It’s about making our products known and used by more people. We’re keeping things practical and focused, aiming to make 2024 a big year for Dinero and our community.

Reflecting on the year gone by is becoming a tradition. We did it last year, so we might as well keep it going. There’s a lot to be celebrated and a lot to look forward to, so let’s get started.

2022 was marked by a brutal bear market brought on by the collapse of some of crypto’s biggest entities. In 2023, things started turning around. BTC, ETH, SOL, and other majors are grinding up from the lows, there’s ETF conversations, capital is quietly flowing back into DeFi, and sentiment is far better than it was 18 months ago.

The good news is that we’re still early as f███ in this cycle and we’re looking forward to what 2024 has in store.

It’s no secret: Hidden Hand has become DeFi’s go-to bribe marketplace. Almost every DeFi project that uses gauges uses Hidden Hand. We’ve expanded it across 13 partners, with PancakeSwap recently joining as the 14th. As for projects bribing through Hidden Hand… we’ve lost count. Projects new and old all make their way to Hidden Hand when they’re looking to tap into the influence economy.

In last year’s blog post, Hidden Hand had facilitated around $9 million in bribe volume. Since then, cumulative bribe volume has climbed past $24 million. That means Hidden Hand processed over $15 million in bribe volume in 2023 with no additional incentives from our end.

Aura and Balancer, responsible for millions in bribe volume, are still Hidden Hand’s biggest markets. We covered them and the importance of BIP-19 last year, so we’ll save you the reading this time. That said, Bunni and Prisma have also emerged as popular markets, each responsible for a decent chunk of the total bribe volume. These markets have proved that Hidden Hand is viable across multiple types of products such as yield optimizers and stablecoins. We expect this trend to continue into the new year.

2023 reaffirmed that influencing gauge outcomes is still a crucial growth strategy for many DeFi projects. In 2024, we’ll continue to expand Hidden Hand across multiple chains and protocols as needed. It’s a critical piece of DeFi infrastructure and the DAO is committed to its success.

Learn more about Hidden Hand here.

Pirex also experienced notable growth over the past year. Pirex CVX continued to attract deposits and we expanded the portfolio with the launch of Pirex GMX/GLP and Pirex BTRFLY.

Pirex CVX really stood out this year, doubling its total value locked. It's now holding over 3.3 million CVX, worth about $12.5 million, solidifying its position as the most popular liquid vlCVX wrapper with no BTRFLY incentives.

If you’re new to vlCVX, here's the gist: vlCVX is used to participate in Convex’s gauge votes, but it requires users to lock their CVX for an extended period of time. Plus, chasing extra yield requires effort — choosing votes, handling rewards through Votium, etc. Pirex CVX simplifies all this. It manages the intricate parts for users and offers the freedom to exit anytime through the pxCVX/CVX Curve pool. Easy and flexible.

Check out Pirex CVX here.

Pirex GMX/GLP gained momentum too, attracting just shy of 15,000 GMX (~$738,000) and 128,000 GLP (~$150,000).

What makes Pirex GMX stand out is its handling of multiplier points, which benefit all users, especially those who are “late” to GMX staking. If you’re unfamiliar with GMX staking and multiplier points, think of it like a loyalty program – the longer you stake, the more value you get.

Since all of the GMX deposited to Pirex is permanently locked, the multiplier points increase indefinitely.  Meaning users benefit from outsized yield on their staked GMX, regardless of when they deposit to the vault. If you’re a GMX holder, it’s worth considering.

Check out Pirex GMX here.

Pirex BTRFLY – launched this year – was born out of community demand, following the successful transition from xBTRFLY to rlBTRFLY in 2022. Since launch, it’s attracted over $2 million in deposits, thanks to its ability to simplify the management of rlBTRFLY positions.

Pirex BTRFLY takes the hassle out of the BTRFLY locking process by automatically managing rewards and relocking BTRFLY for you when your locks expire. It has emerged as a popular choice for users looking to avoid gas costs since claiming rewards, compounding, and relocking can be expensive. Please note: Using rlBTRFLY sacrifices your ability to participate in governance, so choose wisely!

Check out Pirex BTRFLY here.

Dinero started as an idea at the end of 2022 and we spent all of 2023 building it. We ultimately decided that the Dinero protocol requires a phased rollout: Launch Pirex ETH, our liquid staking solution, then the DINERO stablecoin, then the Redacted Relayer.

A few weeks ago we launched Pirex ETH. For the new readers, Pirex ETH is a two-token system built around ETH staking, consisting of pxETH and apxETH, tailored for different user preferences. This design gives users a choice: pxETH for liquidity or apxETH for boosted ETH staking yield. For a detailed overview read here.

Since launch, over 1,250 ETH has been deposited to Pirex ETH and we’re in the process of expanding pxETH’s reach throughout DeFi. pxETH is already available and earning gauge rewards from multiple sources including Curve, Convex, Balancer, Aura (soon), and Bunni. Go farm that yield.

Over the next year we’ll be spending time and resources growing Pirex ETH. Dinero is the future of Redacted and we’re excited to see it through.

Take a look around here.

In 2023, we were busy getting ready for the Dinero launch. Now that the Dinero rollout has begun, our priority for the next year is growth. It’s about making our products known and used by more people. We’re keeping things practical and focused, aiming to make 2024 a big year for Dinero and our community.