What is Dinero / apxETH (DINERO)?

Last verified: May 2026

Nothing here is financial advice. DINERO can fall to zero. Always do your own research.

👋 New to this? Just start reading at the top — it begins in plain English and gets more detailed as you scroll. Jump to any level:

🟢 Start simple 🟡 A bit more detail 🟣 Full technical

🟢 The simple version

Plain English — no jargon. Start here.

One sentence

Dinero is Redacted Cartel's ETH liquid staking protocol with a two-token split: pxETH (1:1 non-rebasing ETH receipt, DeFi-collateral-friendly) and apxETH (auto-compounding LST that earns more than baseline staking because non-stakers' yield is redistributed to stakers).

pxETH vs apxETH

Most LSTs are a single token. Dinero splits into two: pxETH (non-rebasing, holds 1:1 ETH value, doesn't auto-compound — ideal for DeFi collateral where rebasing causes accounting issues) and apxETH (staked pxETH that earns the full staking yield plus yield from non-stakers redistributed to stakers). Holders of pxETH who don't stake get zero yield — that yield goes to apxETH stakers. apxETH earns more than raw staking APY. Use pxETH/apxETH as collateral to borrow the Dinero stablecoin. Builder: Redacted Cartel (previously BTRFLY, Pirex). Is DINERO legal in India? Yes. 30% tax, 1% TDS apply.

🟡 A bit more detail

For when you want to go a little deeper.

Redacted Cartel lineage

Redacted Cartel (BTRFLY) started as a Curve/Convex vote accumulator. Pirex was the vault architecture. Dinero is the ETH liquid staking evolution, now competing with Lido, Rocket Pool, and other LST protocols.

🟣 The full technical picture

For the technically curious.

Key facts

Token: DINERO (~1B, governance)
pxETH: 1:1 non-rebasing ETH (collateral friendly)
apxETH: Auto-compounding (earns extra via redistribution)
Builder: Redacted Cartel (BTRFLY/Pirex lineage)