Welcome to Issue #9 of the Temple Codex: your community-driven newsletter.
In this issue, we'll give an overview of the two recent Temple product releases of STAX, CORE and updates about FAITH redemption.
STAX v0.1 went live on 06/03, and CORE went live on 06/14.
The main goal of this issue is to link together all of the material we've published recently, including medium posts and supplemental information for anyone who wants to learn how our products work. Here we go:
STAX and CORE
STAX and the Temple Flywheel:
- Invest heavily in the TEMPLE/FRAX liquidity pool on the Frax gauge
- Lock in more votes to be directed to the pool and boost rewards
- Boosted rewards will drive up demand for STAX and TEMPLE
- Provide a higher sustainable yield for Templars using the profits from the treasury investments
Read the Temple CORE medium post for more information
What is STAX?
The short version of how STAX works is:
- Templars can finally add and remove liquidity for the TEMPLE/FRAX LP through a front-end UI (the removing feature was added in the release of STAX 0.2 which went live on 06/14).
- You will also be able to convert your LP token into a mirrored asset called xLP (similar to CRV conversion to cvxCRV). STAX will stake those tokens on your behalf to generate yield.
- You will be able to claim rewards from your xLP tokens in the form of FXS and TEMPLE
- When you're ready to withdraw your liquidity, you take your xLP and swap it for the original native LP token on Curve.
For an in depth explanation of how to use STAX, head over to the STAX 0.1 medium post.
What are the CORE vaults?
CORE vaults are a vehicle for transferring the revenue generated by the Temple treasury to Templars. Users can lock their tokens into the vaults to receive yield rewards. There is no runway or limit to how long these rewards can be given out since they come from sustainable income. Currently, there is only a 1-month vault available, but we will offer longer-term lock options in the future.
For an in-depth explanation of how the CORE vaults work, head to the CORE medium post.
CORE User Flow
We have published a medium article (linked above) explaining the mechanics of the CORE vaults in-depth; we highly recommend reading it before investing. For those who prefer video walkthroughs, here is our Temple CORE walkthrough video:
Templars with FAITH can redeem it for bonus TEMPLE by locking their TEMPLE + FAITH into the CORE vaults for the subsequent sub-vault cycles. Each sub-vault has a duration of 1 month and start one week apart. Your reward will be the same no matter which vault you enter.
Here is a useful FAITH bonus calculator to learn your max reward (you will have to make your own copy to edit). If you want to understand how FAITH rewards Templars, have a look at the FAITH redemption medium post.
Temple Continues to Build
Small teaser for upcoming Temple CORE and STAX updates:
- More vaults - Vaults of longer lock duration with auto-compounding returns on the near horizon!
- Zapping - We will introduce more tokens that you can use to zap directly into vaults for CORE or directly into FRAX/TEMPLE LP for STAX. What tokens exactly? Stay tuned to find out!
- Interface - The team is collecting feedback on what is important for Templars to see and will be making updates on the UI as appropriate.
- Suggestions - If you have any suggestions for future products you’d like to see Temple release or a direction you’d like us to head in feel free to contact any one of the team members about it in the Temple discord!