Dinero is a protocol designed to bring together ETH staking, block creation, an RPC, and other features into a single, synergistic protocol. Dinero is composed of Pirex ETH, the Redacted Relayer RPC, and the DINERO stablecoin.
WHAT IS PXETH?
Upon depositing ETH into the Dinero protocol through Pirex ETH, users receive pxETH - a liquid wrapper for staked ETH. However, the pxETH token itself does not earn any rewards. pxETH is used as a liquid token throughout DeFi and will allow users to easily trade in/out of pxETH and earn yield through other means such as providing liquidity.
WHAT IS APXETH?
In order to earn staking rewards on pxETH, users must deposit into Dinero's auto compounding rewards vault in exchange for apxETH - a vault share token. This vault benefits from Ethereum staking rewards and other rewards such as maximal extractable value (“MEV”) tips and any other block rewards generated by the Dinero protocol (minus fees), which are compounded into pxETH. As rewards are earned by the vault over time, the amount of pxETH underlying each apxETH increases.
WHAT IS AN LST?
LST is short for Liquid Staking Token. An LST is a wrapper, or receipt token, that proves you own an underlying staked asset such as staked ETH.
WHAT IS REDACTED?
The Redacted ecosystem is a product suite of smart contracts empowering on-chain liquidity, governance, and cash flow for DeFi protocols.