Redacted

With the recent launch of Hidden Hand and the expected launch of Pirex and rlBTFLY in May 2022, it is an opportune time to propose and discuss:

• a new v2 BTRFLY supply schedule
• a transitional BTRFLY APY in anticipation of rlBTRFLY launch
• a rlBTRFLY revenue sharing mechanism

More detailed information about each of these items can be found here:

• https://commonwealth.im/redacted-cartel/discussion/4583-rff-redacted-v2-tokenomics
• https://commonwealth.im/redacted-cartel/discussion/4585-rff-transitional-btrfly-apy-in-anticipation-of-rlbtrfly-launch
• https://commonwealth.im/redacted-cartel/discussion/4584-rlbtrfly

The RFF relating to the transitional BTRFLY APY in anticipation of rlBTRFLY launch earmarked 6% of the BTRFLY total supply to be used to incentivise rlBTRFLY lockers in the first year after rlBTRFLY launches. In light of the updated pxBTRFLY and rlBTRFLY timelines, we have updated the 6% to 7% with a estimated APY of ~40% to 50% APY in the first year for those locking early, assuming a 70% rlBTRFLY lock rate.