1) Today I want to talk to you all about one of the projects I'm the most excited for: @templedao
What is TempleDAO? Think of TempleDAO as an automated hedge-fund with different investment strategies to fine-tune your risk exposure and shelter your bags from volatility
What is TempleDAO? Think of TempleDAO as an automated hedge-fund with different investment strategies to fine-tune your risk exposure and shelter your bags from volatility
2) The developers of TempleDAO describe the protocol as "a safe place for DeFi believers to rest, recuperate, and prepare for their next risk-on trade."
Originally ideated as an #OlympusDAO fork, TempleDAO follows the (3,3) set and forget staking principles of OHM.
Originally ideated as an #OlympusDAO fork, TempleDAO follows the (3,3) set and forget staking principles of OHM.
3) Stakers deposit $TEMPLE tokens in order to receive compounding TEMPLE rewards from the protocol. Like OHM, TEMPLE can be either purchased from the open market or directly from the protocol at a discount. From there protocol rewards are fairly distributed to TEMPLE holders
4) to increase the intrinsic value, or fair backing, of the TEMPLE token.
Unlike OlympusDAO which only provides one staking pool that distributes all fees indiscriminately, TempleDAO gives users a plethora of different pools with different risk exposures.
Unlike OlympusDAO which only provides one staking pool that distributes all fees indiscriminately, TempleDAO gives users a plethora of different pools with different risk exposures.
5) From high-risk degen pools to conservative capital management, TempleDAO has an option for everyone.
To switch between these different pools is as simple as moving your staked Temple tokens from one pool to another. Like this, you can design your own risk exposure.
To switch between these different pools is as simple as moving your staked Temple tokens from one pool to another. Like this, you can design your own risk exposure.
6) Ok, that's great, but how does TempleDAO really work? The basic tokenomic mechanics of TempleDAO that promote steady, long-term growth are as follows:
1. Safe Harvest & Intrinsic Value
2. Safe Premium
4. Unstake Queue
5. Temple Defend
1. Safe Harvest & Intrinsic Value
2. Safe Premium
4. Unstake Queue
5. Temple Defend
7) So, let's start with the Safe Harvest & Intrinsic Value. Like Olympus, the Temple protocol mints new tokens to reward stakers. The protocol conducts a Safe Harvest of $TEMPLE rewards in an innovative way which only allows new tokens to be minted when there is growth in the
8) protocol's reserves which back the token. This ensures that the intrinsic value of the temple token is never diluted as the protocol can only mint inflationary tokens, which are then distributed to stakers, when real growth is happening.
9) Safe Premium - TempleDAO employs an original innovation known as the Safe Premium. As with the OHM token, users are able to buy TEMPLE tokens directly from the protocol at a discount. However, the Temple protocol will sell these tokens at a
10) fixed discount in order to actually maintain a price ~ceiling~. To prevent the token price from rising too high above the intrinsic value and incentivizing mass dumping, users are always able to purchase TEMPLE at a fair price regardless of AMM prices.
11) Arb bots would then be able to quickly step in and sell into the AMM to create a price ceiling.
Unstake Queue - To prevent bank runs like we saw with $TITAN and to further incentivize long-term holding, people who wish to unstake have to enter an orderly queue to exit.
Unstake Queue - To prevent bank runs like we saw with $TITAN and to further incentivize long-term holding, people who wish to unstake have to enter an orderly queue to exit.
12) When exit demand is high, the queue is longer. When exit demand is low, shorter.
This mechanic prevents whales and short sellers from tanking the price of the token, adding more stability to the overall TempleDAO ecosystem.
This mechanic prevents whales and short sellers from tanking the price of the token, adding more stability to the overall TempleDAO ecosystem.
13) Temple Defend - If selling pushes the AMM price too low, the Temple defend mechanic engages.
Temple Defend gives $TEMPLE holders the right to sell at a price above market value back to the protocol. Therefore, arb bots can push the AMM price higher and add more stability.
Temple Defend gives $TEMPLE holders the right to sell at a price above market value back to the protocol. Therefore, arb bots can push the AMM price higher and add more stability.
14) Additionally, when the protocol is in Temple Defend mode, these tokens sold back into the protocol act as quasi-options, giving users the right - but not the obligation - to sell back to the protocol.
So if the AMM price rises as expected, you can keep the discounted tokens
So if the AMM price rises as expected, you can keep the discounted tokens
15) if it doesn't go back up, you can still allow the sale to complete.
With TempleDAO, what started out as an OHM fork has added several new innovations -
High capital efficiency, fair premium pricing, and a long-term vision that creates a shelter from crypto's volatility
With TempleDAO, what started out as an OHM fork has added several new innovations -
High capital efficiency, fair premium pricing, and a long-term vision that creates a shelter from crypto's volatility
16) Beyond the original tokenomics, the Temple community has become one of the strongest and most active in DeFi, and definitely the one with the most original theme.
In a few months, the team has organically grown from a single Discord invite to over 800 boosts and 10k members
In a few months, the team has organically grown from a single Discord invite to over 800 boosts and 10k members
17) Ultimately, TempleDAO is one of the most anticipated protocols to launch in the past few months and yet it is still somehow under the radar.
Without even getting into the religion (probably the best part tbh), TempleDAO is one of the best plays you can make in crypto rn imo
Without even getting into the religion (probably the best part tbh), TempleDAO is one of the best plays you can make in crypto rn imo
18) NFA, but if you missed $OHM or $TIME, you probably don't want to miss TempleDAO.
Sacred doctrine, rare pepes, rituals of fire, and awesome yields... iykyk
Sacred doctrine, rare pepes, rituals of fire, and awesome yields... iykyk
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