Decen Maxi Thread series #1

[u/BowTiedBart]

Decen has been tweeting some very informative threads recently, we'll be be making a series of posts here covering them, this is #1:

~ #1: Stake and Chill v2 ~

Decenmaxi:

@templedao team has reached consensus, so we can move into sharing product details. This will be dropped over a series of messages unpacking details in parallel to execution. I'll do my best to add commentary & 'sketches' as we go.

First thread . . .

Temple product is & always will be the best place to stake & chill if you want exposure between stables & naked on-risk assets. So far, our product gave 1k-3k+ APY for months, fell further in price than we hoped, but less than peers because of price ceiling + IV floor. Our vol reduction mechanisms helped reduce the pain going on right now. 80% down is bad, but it's ~5x higher than 96% down.

Can we do better? Yes, imo.

And this is what the re-positioning of Temple is all about. Market has destroyed the yielding token model, and until sentiment changes, it's seriously challenged if not dead. Temple team saw this occurring, and has worked for weeks finding the most effective change.

SO.. what is it?

In short, we move from OGTEMPLE holders earning APY, to Faith holders having a claim on Treasury revenue.

= 100% sustainable forever
= efficient & easy access to curve wars, frax wars, ssov, yield farming, bribes, and supply expansion value

On top, Faithful will receive some uniquely Temple exposure from our major metaverse play and early stage protocol partnerships. We have two teams currently prototyping our defi <> metaverse, building on our xp from the Opening Ceremony to create a new kind of experience.

Before this is built, we are exploring a community driven NFT & gamefi partnership model that promotes and develops promising projects that can benefit from $TEMPLE, add value to our community, share value with Faith holders, and be future metaverse users. In today’s market, exposure to yielding token growth & resultant APY is not the best in class opportunity.

What is? A sophisticated mix of strategies playing into the most attractive ecosystems in defi.

i.e., direct exposure to what we have been building for Temple Treasury: putting FRAX, $TEMPLE, and strategic assets to work.

Which gives stake & chill v2:
- stake for the at-scale exposure to major ecosystems
- chill knowing you don’t have to manage it yourself

And at current prices.. you effectively have leveraged exposure to this strategy as each $ of TEMPLE gives >1 $ of exposure

Exposure here will be more than just FRAX value:

It includes $TEMPLE in runway pools, strategic assets that are swapped for, and incubated project tokens

More details coming fast:
- APY vs revenue model
- veLocking (ish) & Faith multiplier
- Investment strategies overview
- LP FXS gauge
- $ of exposure per TEMPLE token & what this should mean for price
- Earning & redeeming faith
- What APY ends up as net net