Issue #10

Hello Templars!

Welcome to Issue #10 of the Temple Codex: your community-driven newsletter. We bring you a condensed version of everything you need to know about in TEMPLE.

Temple Ascend

A new mechanic that we're calling Temple Ascend will be implemented to buy back TEMPLE from the open market to fund yield for the CORE vaults. It does this through a spin on Balancer’s LBP, think Copper launch but in reverse. The pool will start with a weight of 80:20 DAI:TEMPLE and rebalance as buys and sells occur to eventually reach an inverse ratio.

The LBP is a form of TWAMM where a small price arbitrage is created between the LBP and the external pools. Bots will come into the pool and equilibrate the two prices. In doing so, the buyer can get filled for tokens at a time-averaged price throughout the auction. For more information read the summary of CTP23 and Codex’s primer on how LBPs work)

What is Balancer?

Balancer is a liquidity provider, portfolio manager, and AMM, which allows for the creation of liquidity pools with unique token weights and mechanics. If you'd like to learn more, check out Codex's article about Balancer outlining how the protocol works and what sets it apart from other AMMs

STAX updates

The team is chugging away improving STAX, and rewards payouts are now automated. Up next in the pipeline will be:

  • A UX and UI overhaul
  • Zaps from any token into the STAX LP
  • A new partnership with Convex for veFXS boosts
  • STAX token, farther down the line

(read the summary of CTP23 for more info)

The FAITH window is closed

Claiming and redeeming FAITH is no longer possible. The smart contract logic required that this be closed after the first vault cycle.

Representative governance

Temple is working hard on our DAO games structure to governance and compensation. The objective is to make it easier for people to get involved and make the whole process more transparent. For more info, read the CTP22 summary.

The Merge

The Merge has been in the news a lot lately. Check out this Codex article on Danksharding, one of the key mechanics expected to be implemented after the Merge and what it means for Ethereum.

Get to know me, Bobruisk

Check out our interview with Bobruisk, our Treasury Chamber MC and man of the people, to find out what makes him tick.