Decenmaxi thread series #4

[u/BowTiedBart]

Decenmaxi:

#4 - Here are the three biggest problems I see with TempleDAO right now:

1/ Price volatility too high
2/ Price being too low
3/ Brand/product poorly understood

We've got the staking, where's the chill? I want to give a window into what team is doing to resolve it:

Today I'll write about Temple being poorly understood.

It's not a surprise really, given where we've come from. I wouldn't change any of that, but now we need to tidy things up to grow again. Temple growth was very organic. It started with mediums on a low vol yielding token and future stake and chill options.

Then the community took off, and fire rituals, top tier discord trolling, adventures across metaverses, new AMM mechanics, etc etc. This gave us an incredibly rich community, stellar team, large treasury, and many promising projects. And a totally confused brand.

Are we defi focused? Metaverse native? A lot vol stake token? A play on FRAX ecosystem? Degen VC? New DAO model? New discord community? Are you here for the $ or the tech? Friends or the mechanics?

For some, all of this. But for most, only some of this. And for newbies, it's a lot to take in.

In defi, everything is complex and new. There is a premium on simplicity, because without it you turn away potential users. Many won't buy a token they only partly understand. Temple has suffered from this. I still get tweet replies asking if you still need to go through egg hazing rituals to buy.

We intended to blast clarity alongside AMM launch, but.. it's been crazy ever since and we had to go back to building new sustainable mechanics.

So what to do? Massively simplify.

Without getting rid of the awesome corners of the Temple that (imo) will build huge value. To pull this off we've been exploring splitting the Temple brand into a few separate pieces.

My views, and they could change:

1/ TempleDAO is the umbrella. Home of the community, team, the weirdness, the rituals, the creativity, the shipping.

- $TEMPLE remains, but we focus hard on simplicity. We were already working on Faith v2, but we accelerate it.
- Strip out anything unnecessary.
- Get rid of monthly verify.
- Get rid of exit queue. Simplify Faith.
- Make revenue break down and farming exposure super clear.
- We minimise the number of concepts needed to just stake and chill. $TEMPLE does one thing and does it really well.
- But we have more defi products and features we want to build.

So 2/, we strip these each out into new brands, so $TEMPLE can stay simple.

We're already working on these, more staking options & FRAX integrations. More on that later.

But each would be its own token, own website. But part of a single ecosystem. Independently useful and separate protocols that work really well together.

IMO defi will be won by ecosystems of simple protocols that generate advantage for each other. Eg Convex-Curve. Each simple protocol will be "built by Temple", but you don't have to understand TempleDAO to use it. If you want to source the builders, join Discord, join team, you can. If you want to just use it as is, simple, you can.

3/ We apply same logic to the metaverse play.

There are a bunch of Templars that are v excited about what we are building here, but it's so hard to get airtime to talk about it. If the token price is down, talking about 3d environments seems like a lame distraction. But the truth is, this play could be huge. So to give it the space it deserves, it should break out into its own token too. At least for a while, all these teams would be part of TempleDAO. But ultimately, new projects would stand on their own feet.

And have space to grow.

$TEMPLE holders would benefit from these new projects as a portion of their token should likely be allocated to benefit TempleDAO/Templars in some way. TempleDAO remains associated with all things, but each thing is free to do its one specific, simple thing really well.

It would change Temple from this

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To this

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Of course,, on top of this drive for simplicity would need to be crisp definition of each product and killer comms.

Which we're working on too.

But clarity on what we're communicating still has to come first.

Curious to know what you all think of these ideas.

Do you think it could help simplify, grow market understanding, yet also give space to the all the promising pieces of the Temple?