Redacted ecosystem is a suite of smart contracts designed to support on-chain liquidity, governance, and cash flow for DeFi protocols. The Redacted protocol is the dApp built around BTRFLY, enabling users to stake, receive incentives, and take part in governance proposals.

The Redacted Cartel is the DAO responsible for developing the Redacted ecosystem. It brings together developers, writers, researchers, and others working on Redacted and expanding its footprint across DeFi. 

Under the main offerings of Pirex and Hidden Hand, the protocol gathers protocol-owned liquidity and protocol controlled value through a bonding mechanism that helps grow its reserve of governance tokens, strengthening its influence in the DeFi market.

Hidden Hand by Redacted is a marketplace for governance incentives, often called "bribes". Protocols can use Hidden Hand to make governance processes more efficient and to connect with their voters. Users can also earn additional returns on their preferred vote-escrowed governance tokens via bribes.

Pirex is a Redacted Cartel product that generates liquid wrappers to support auto-compounding and the tokenisation of future yield/vote events. It also plans an ecosystem of applications built on top of Pirex liquid wrappers to improve governance token utility for users, unlock new forms of utility, and offer yield opportunities available specifically to those using Pirex wrappers.

BTRFLY is a meta governance token backed by bonded, farmed, and acquired governance assets (e.g. CVX, CRV, FXS). BTRFLY provides broad governance exposure to holders while keeping their underlying assets liquid.