Redacted Joins Hercules’ Olympic Circle!
Hercules is excited to announce Redacted Cartel as a member of the Olympic Circle to foster deeper and more efficient liquidity for the entire Metis ecosystem and an even better user experience.
Redacted <> Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
The Redacted ecosystem is a powerful product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols. The Redacted team is an amazing group of DeFi builders who have developed an impressive product suite across multiple chains. Hercules is thrilled to welcome them to Metis!
Hercules is committed to providing dedicated support to facilitate the deployment of additional Redacted DeFi products onto Metis. Once Pirex is live on Metis, Hercules will exclusively host pxETH with a pxETH/WETH pool.
Redacted
Redacted focuses on the development of DeFi products, including Hidden Hand, Pirex, and Dinero. These products are designed to improve liquidity, make governance processes more efficient, distribute incentives, and scale yield throughout DeFi.
Looking A Little Deeper
Pirex ETH is Redacted’s ETH liquid staking solution, which serves as the foundation of the Dinero protocol. It consists of two tokens: pxETH and apxETH. Our partnership with Redacted is primarily centered around pxETH.
Users receive pxETH when they deposit ETH into Dinero’s Pirex ETH contracts. It is effectively a redeemable wrapper for ETH and maintains a 1:1 peg to ETH. Functionally, it’s similar to WETH, except most of the underlying ETH is staked.
pxETH’s peg to ETH makes it the perfect candidate for cross-chain DeFi activities — making it a good fit for Hercules. We’re looking forward to helping them bring pxETH liquidity to Metis.
What’s Next
Hercules will do what it does best — deep and flexible liquidity. Hercules will give protocol owned liquidity like Redacted a high level of control to ensure a healthy rewards structure.
About Hercules
Modelled after the highly successful Camelot DEX project, Hercules is a community-first, capital-efficient and flexible DEX developed with multiple tools to support the next generation of builders who look for sustainable liquidity in the Metis network.
Website | Twitter | Telegram | Discord
More from Redacted
