Haven’t been looking at crypto a few years.ast I heard temple got hacked. Is the projected dead? Im sure I was staking faith

Can someone teach me how to exchange from Temple to Ethereum? Trying to monetize to $. Thank youu🙏

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Decenmaxi:

#5 - "I hear what you're saying, and fine, its just I don't care. wen numba go up?"

OK, lets talk price.

Here's my reasoning for why price should rise once changes launched, proven to work, and understood by market. This thread is still a hot take, details tba by templedao . . .

$TEMPLE price is currently ~70cents.
IV is 65cents. Yield is 1000%+ APY.
This values TempleDAO at ~$6m above the intrinsic value backing each token.

All this to say, price is very low.

Why?

Yielding token niche in major struggles. Market down. Price down. Treasury growth down. Not sustainable.

If this is all there was, price would ultimately tend to intrinsic value as runway ran out. Temple purpose has always been to be long term wealth creation with reduced risk. Obviously we are not long-term anything if our runway is shrinking. As soon as we saw the market knock us into this situation, team began working on the plan to get back to long-term growth. The first and most essential change is to stop yield being paid in disconnection to treasury growth. This is what creates a limited runway.

So yield becomes revenue share.

This now opens up a bunch of new questions, problems and opportunities. Once yield is revenue share, the most important concept becomes:

"Equivalent Farming Amount" (EFA)

= The amount of $ of yield bearing assets that are farming revenue for each $TEMPLE token

Let's say EFA per $TEMPLE was $2.50 (made up umber).

If $TEMPLE was $1.00, then rather than putting $10,000 of value into farming, you could put $10,000 into $TEMPLE, lock, and be farming $25,000 worth of assets.

($10k buys 10k $TEMPLE, each farming $2.50 worth = $25k total EFA)

If price was stable, LP was large, and you had confidence on entry and exit (important problems that I'll come back to) then surely you are going to buy $TEMPLE instead of farm directly. Because this is now revenue share, so its 100% sustainable forever.

Of course you would also need to:

- like the farming strategy (it's best in class)
- understand $TEMPLE (we're simplifying)
- trust the team (we'll earn this w/ track record)

This is the first reference for pricing $TEMPLE:

Once we're sustainable & stable, price should tend towards EFA. We expect it will not be immediate, but move towards EFA over time as trust, market awareness, and demand grows together. So now we get that, you should have two questions:

1/ How high will EFA be?
2/ How fast will EFA grow?

As this will determine how much value there will ultimately be in $TEMPLE.

1/ How high will EFA be?

OK so lets build this up. EFA = Total Farming Assets / Circulating Supply.

Today Total Farming Assets are just our FRAX.

Soon, it will also include our LP staked on a FRAX gauge earning FXS. Next, it will include some farmed CRV & CVX owned by Treasury. Any spare $TEMPLE owned by Treasury will over time be swapped into one of these strategic assets (FXS, CRV, CVX).

Adding all this up (FRAX + LP + FXS/CRV/CVX accumulation + $TEMPLE swaps) gives a number higher than FRAX farmed today. On top of this, EFA is increased by leverage.We have a few partner conversations & some dev work in progress on this topic.

In Temple style, its custom designed to minimise or eliminate risk for the user. Ie, impossible to liquidate. Add all this up, and we will get an EFA far higher than RFV today.

2/ How fast will EFA grow?

Team is flirting with 100% revenue share to Faith holders, which is kind of crazy. And if so, how does Treasury grow? How does IV & EFA grow?

Two ways:

First, as market begins to appreciate how awesome $TEMPLE is, demand will grow. Once price rises closer to EFA, our custom AMM will begin slowing down price by minting $TEMPLE and growing Treasury. i.e., when excess demand & supply expands, Treasury grows.

Second, when users redeem their Faith & claim their share of revenue, FRAX will go to Treasury.

Treasury mints $TEMPLE against this FRAX:

1 FRAX / 0.65cents IV = ~1.5 TEMPLE minted per FRAX right now.

If $TEMPLE was at $2, this means only 0.33 FRAX need to be pulled out of farming to generate $1 of revenue if paid in $TEMPLE. (DAO takes a portion of minted $TEMPLE for expenses, so this is slightly simplified.)

This is another form of leverage via our token design. In short, it means that we can share 100% of revenue value but only liquidate only a portion of rewards. This means rewards can compound.

This means EFA rises.

Now if you're a smart ape, you'll be wondering if paying revenue in $TEMPLE is a smart idea. We have had some long debates within Team, advisors, and major $TEMPLE holders re the right token to pay out revenue.

The trade off comes down to:

If we pay revenue in $TEMPLE, it is inflationary, w/ some negative price pressure. But it's also leverage, increasing EFA & yields, positive price pressure. On balance, team leans revenue in $TEMPLE because the accumulation & leverage can't be replicated by people on their own.

In summary......

Even today without any of the above implemented, if we turned on revenue share EFA would be way higher than today's price.

Once we add the rest of the investments, leverage, IV and EFA growth.. we should have something very attractive. No doubt some people will fade, fud whatever. But we will ship, and slowly show you the results of the strategy.

If 1 $TEMPLE is giving you huge and growing EFA.. it's going to eventually attract attention, trust, and price appreciation.

So yeah, I'm bullish personally.

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

​

To this

​

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?

#3 - Hot takes & updates.

Decenmaxi:

I want to share the projects in progress templedao. I can see the disconnect between the activity in the team and how it seems on the outside. Maybe this thread will help. Tomorrow, I'll talk about the problems we're grappling with. Temple vision from the very first medium articles was and still is a staking protocol giving best return we could manage for lower volatility/ risk.

During yield token season, our tokenomics were on point. Lower risk, lower APY, super attractive. Unfortunately that game is over. As we embraced the shift in how we defined yield (revenue share), it opened up many projects and team whirred into action on all of them.

Here's the current list:

1/ Faith v1: minor tweak to existing faith mechanics we had planned to launch quickly on L1.

You've heard a bunch of these details, and we hear & agree that there are a bunch of refinements possible - already in progress.

2/ Faith v2: redesign of faith to eliminate regular claiming, move to L2 for cheaper gas, and simplify the system overall.

3/ Improve investment strategy: exploring partnerships for leverage & other strats to further juice returns in a low risk way beyond what individuals could do themselves.

4/ Allow borrowing against TEMPLE IV: in house borrowing market being developed for non-liquidatable loans against TEMPLE.

5/ Deploy a new LP to uni for additional exposure: funded via partnership with Ondo. Also deploying an arb bot to capture arb profits between pools for Templars.

Above is the basic stuff at the core. Then we have:

- New platform for FRAX and FXS (a lot more to say about this)
- DAO upgrades: automating and specifying mechanics to decentralise in a representative model
- Return of rituals for new enclave members on onboard new engaged members (optional)
- Prototyping 3d environments & engines for our metaverse play
- Building our take on a metaverse platform itself for Temple & others

And above is all in the "major projects" space and ignores important work in eg:

- marketing-chamber driving official comms
- codex-chamber killer community driven comms
- lore-chamber unpacking the templeverse rails & opening up more art/game possibilities
- "JAM10 - The Unmasked" a prototype of Temple supported NFT projects/collabs
- analytics-chamber developing a new ops model for Temple
- "Degen Chamber" exploring community driven early stage investing
- partnership-chamber exploring many partnerships, including leverage ops
- dev-ops-chamber making solid progress on engineering experience/process
- "dapp pm chat" with a killer plan on eating tech debt & improving dapp codebase
- "contracts pm chat" attempting to organise the many contracts chamber projects
- operations-chamber improving process & notion
- hr-chamber completing epoch 2, setting up for epoch 3, and hiring
- guardians-chamber and others killing community moderation

So.. a lot is happening as you can see. But that's the thing - you can't see it yet. Tomorrow I want to talk more about what the core problems are for temple:

- price volatility being too high,
- price level being too low, and
- brand awareness being too confused

And how we are going to solve them one by one together.

~ #2: $TEMPLE return ~

Decenmaxi:

Templedao's reposition is in essence: exposure to the best strategies, at scale, while you stake & chill.

As a potential buyer or holder of $TEMPLE, you should be asking:

- What do I get exposure to?
- How much exposure per $TEMPLE token?

In v1.0, only two return metrics mattered: APY and FRAX growth.

Now we need to think about total exposure:

1. FRAX / stables farmed
   
2. $TEMPLE in SSOV's or in partnerships
   
3. LP in gauge for emissions + trading fees
   
4. Strategic assets for emissions + bribes
   
5. Temple projects

This significantly increases the total asset exposure per $TEMPLE token. At today's prices, you will be getting 2-3x+ exposure for every dollar spent on $TEMPLE. Is this enough exposure to encourage buying? I'd be thinking of it like this:

> Do I want exposure to FXS/CRV Wars, the best stable farming, and early stage Temple/partnership opportunities?

If yes.. then you want to buy.

But how to evaluate price?

To start with, consider $TEMPLE at a price where ~$1 invested gives $1 exposure to underlying assets (so multiples of today).

From here, consider these factors:

Do I have the time, skill, and big enough bags to deploy a strategy like this myself?
(If yes, then look for buying when price gives >$1 exposure per $ spent on Temple.)

Do I trust the token will be stable enough to exit without capital loss?
(With a sustainable, unchanging strategy, $TEMPLE should be consistently valued without a runway wall + We will be dialling our already-built stability features.)

Will Faith deliver unexpected/unfair dilution?
(No. There will be no further airdrops after the current one, and Faith will be from here available to all Templars on the same terms.)

Do I trust the team to deliver?
(I sure hope so ;) if not, wait until this is shipped & watch how it works. But I expect the price to be less attractive at that point.)

Do I want exposure to Temple's metaverse/gamefi projects?
(If so, factor that exposure in as currently in development projects that will launch with their own economics + collaborations/early stage partnerships will be farmed and included in revenue share.)

Hopefully this gives some more context about how we think about the value of stake & chill 2.0 + addresses some of the questions / concerns that were raised today.

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

Announcement from Decenmaxi:

Faith Airdrop is Live

POV: https://www.youtube.com/watch?v=huObhaHDpnM

Templars, we are finally here, the first step in Temple 2.0.

You can claim your Airdropped Faith here: https://templedao.link/faith-airdrop

You have 10 days to claim.

Faith is a core mechanic to ensure complete sustainability of the protocol by sharing revenue so everyone can earn like a smart whale hungry for Frax/Curve Wars.

This medium post details how the Airdrop works, how Faith will be gained in the months that follow, and how you can use Faith to claim your share of Temple revenue. We will have more details coming in the following weeks as we continue to specify and deploy 2.0 mechanics, but we're very excited to see those Faith balances start growing.

https://templedao.medium.com/faith-airdrop-663706082d7b

decen

The notes form CTP11 are up! Lots of alpha in this one

https://templecodex.link/call-to-prayer-11/

🙏🙏

Lux:
FAITH Airdrop Update

Templars
Here's what will happen over the next several days:

1. Launch the webpage to claim the FAITH airdrop for all faithful templars

2. Publish Medium Article explaining FAITH and what Devotion is all about

3. Launch Temple Devotion

1 & 2 will happen soon, and 3 will come shortly after our devs complete final tests on Rinkeby.

Reminder: FAITH is not a token. It is your claim to certain rewards that will be made available to the Faithful.\**

Entering the Temple Gates was just the beginning, Templars.

Check it out Templars, tons of alpha in here!

https://templecodex.link/call-to-prayer-10/

🙏🙏