TempleDAO CTP 8 TempleDAO team been quiet for a couple of weeks - working in the background to build out the next release From here on out - building the structure to develop releases more publicly - investing in the organisation itself with development to systems, teams & planning to make the enclaves more open & engaging TempleDAO's aim is to get building happening in the open - goal is to integrate team + community + investors, plan to open source codebase and make the processes more transparent

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Topic #1: Private AMM

Medium article coming in a couple of weeks Team goes over Temple Tokenomics:

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Fundamentally want to encourage of buying on protocol to build treasury and build protocol controlled value - Temple wants a huge treasury in order to use it in powerful ways (encourage buying through protocol) Aim: bring stability while also being a degen high-apy token Temple achieves this through safe harvest method - supply increase is limited by amount of treasury growth to preserve IV (intrinsic value). unlike in OHM, where every dollar of RFV (Risk Free Value) can mint its own token; in temple IV can never be diluted - the token will always be backed by a certain amount of treasury (that will stay a flat % of each token's value, not decrease as treasury gets bigger) Supply that can be issued by the protocol per epoch is fixed, to ensure that IV goes up and that it is not diluted by excessive yield Price stability mechanics - limitation of unbacked price growth to prevent P&D dynamics; Temple will also defend the downside through buybacks to prevent tokens from losing IV peg.

What is New: Medium article will discuss "buying from AMM" vs "buying from protocol"

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Problem with buying from AMM: money that you hand over enters LP, and you receive TEMPLE. Buying from Temple - money goes into Treasury, you receive Temple tokens. Original idea - both options would be available at both times - so if the price goes up you can buy through protocol rather than AMM. Price could therefore not exceed the limit set by Temple, as any difference between protocol price and AMM price could be arbed for profit by the community. New plan: When price rises past safe premium (6x IV) Temple AMM will direct a certain % of trades directly into the protocol (50%), allows for an independent liquidity pool w/ price movement while also dampening price rises. Temple AMM smart contracts will route your buying either to the AMM or to the protocol. Therefore - price WILL be able to rise above 6x IV, but above that level a certain portion of the trades will be routed through the protocol to dampen excess buy pressure and capture it into treasury growth. Intention to expand across multiple chains - intention to split treasury across chain? (possible alfa)

Central Question - when do you want to allow treasury to grow? (vs. allowing TEMPLE price appreciation)

Team is open to allowing price rises but still intends to capture a significant amount of buy pressure into the treasury to be able to distribute excess value to stakers rather than to dumpers Temple AMM - based on Uni V2 but with Temple tech added on top. Theoretically, it's a system that a lot of DAO's would be excited about - since it allows anyone to capture excess buy pressure on their token and convert that into treasury growth (possibility of partnerships/Temple Pro??? alfa) Buy pressure below safe premium (6x IV) - 100% buy pressure goes into the LP. Buy pressure above safe premium (6x IV) means a portion is directed to the treasury (50% currently) Question about $temple darkpools/AMM's on Uni/Sushi? Team doesn't see this as a challenge as buy pressure channeled to treasury will keep the token price lower on the official AMM. There is more reason to simply buy on Temple AMM b/c of deeper liquidity and less slippage when the token exceeds 6x IV.

How does the team encourage people to buy below safe premium?

One option - to put aside FRAX to provide price support - likely too expensive and would simply provide dumpers with exit liquidity. Far more capital efficient to "use temple tokens to buy the dip" - by providing bonus APY for buying the dip, Temple can incentivise the community to provide buy support - more treasury-efficient way to keep price at safe premium. Plans to implement $FAITH as "incentive tokens" - earn faith through positive community behaviours/providing price support below 6xIV - $FAITH will be tied into rituals/metaverse aspects of TempleDAO - "all sorts of juice" according to Decen. "One more thing: if you have faith, multiples -(audio distorted)" "bless" (= some kind of action that you can take towards other templars?) tldr: buying the dip rewarded by FAITH and bonus APY for staking in that time Final piece of alpha - if the price drops down towards IV then Temple Defend automatically activates - if your sell would push price below the level where intrinsic value is, it is routed directly into treasury and this will be available forever i.e. will defend the price permenantly at IV. decen: "apparently i need a new mic" (yeah no shit lmao)

Summary: Price above Safe Premium = Able to channel 50% excess buy pressure directly to treasury Price below Safe Premium, above IV - $FAITH and extra APY incentives buying the dip Price at IV - sells are routed directly to treasury and do not enter the AMM, sellers receive the intrinsic value of their $temple directly from TempleDAO. This means that price can never dip below IV.

This mechanic will further raise runway ceiling - a floating price means that price discovery is allowed and as price rises above safe premium more than 6x IV will flow directly into the treasury. The DAO is also able to reset safe premium at different levels - can adjust up higher than 6x if needed, and there are mechanics in place to prevent temple mooning out of control regardless of safe premium.

Topic #2: DAO Development - hiring/compensation/projects

lost boy - Discussing how to be setting up the organisation in a way that it can scale/grow. How do people get paid at temple? temple started ~6 months ago, first payment to the team this week/ (nobody been paid yet - only equity) Team is experimenting with a few different ways/models - looked at olympus TempleDAO current model: payment per epoch The idea is that a circle of people on co-ordinape will allocate points to each other and end of an epoch receive payments according to points allocated by other members. First epoch was 6 months long - all contributions before the end of Opening Ceremony were in Epoch 1. The core team used a 'manual co-ordinape' process - however there are many disciples on the team that decen and lost boy didn't work with - they used co-ordinape to allocate points to each other. Will publish a medium post with details. Disciple/Initiate/Masters contributing to TempleDAO will all get rewarded. Paid based on value contributed, per epoch. At Olympus - pOHM serves as a sort of long term equity - TempleDAO pays based on epoch - immediate liquidity to allow slightly more fluidity. Epoch 2 likely to be much shorter than Epoch 1. This takes away "owner"/VC type attitudes - everyone gets a fair distribution based upon their work during the epoch.

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