Opening Ceremony Drop #4: The Launch
To all those !verified — Welcome to the Opening Ceremony.
How to Participate
The Opening Ceremony begins in Discord. The pathway is shrouded in mystery… It will not be easy to be the first Templar to complete the ritual and buy Temple at the cheapest price.
However, if you can find someone to explain the way for you… It will be easy to follow.
If you start hearing Whispers… You might find help in the #opening-ceremony channel.
Remember to pray.
Good luck anon.
The Opening Ceremony begins just prior to the New Moon, on Nov 3rd at 5pm PST / 8pm EST and ends with the Full Moon ~15 days later, just after midnight on Nov 19th. At this time the Temple Hall will be cleared, the Ritual space closed, and no more $FRAX may be sacrificed until the beginning of the next ritual.
Once the Templar completes their pilgrimage, they will have collected their Sandalwood offerings to burn alongside $FRAX at the Altar. This Sandalwood will permit their entry into the Temple. A confirmed ritualist will be able to invite up to two guests to sacrifice a small amount of $FRAX (10,000) at a slightly lower APY (0.9% per day vs 1.0% for those who have successfully completed the pilgrimage).
For ritualists, a maximum of 30,000 $FRAX tokens may be sacrificed on the first day. The per ritualist limit of $FRAX that can be sacrificed doubles each day. This repeats each day to a total limit of 2.5M $FRAX by the eighth day.
These are the daily $FRAX limits:
- Day 1: 30,000
- Day 2: 60,000 (30,000 additional)
- Day 3: 120,000 (60,000 additional)
- Day 4: 240,000 (120,000 additional)
- Day 5: 480,000 (240,000 additional)
- Day 6: 960,000 (480,000 additional)
- Day 7: 1,920,000 (960,000 additional)
- Day 8: 2,500,000 (580,000 additional to reach global cap)
The following contracts have been deployed for the Opening Ceremony:
The Opening Ceremony contract handles permissions for access to the Temple (enforcing pilgrimage completion or invited guest status), $FRAX sacrifice, $TEMPLE mint and stake logic.
The Treasury Management contract allows us to automate Safe Harvest via Chainlink Keeper, by turning the Harvest method permissionless. In addition, we have updated Harvest to run after every on protocol purchase of > 5,000 $FRAX for greater Harvest efficiency.
The Opening Ceremony Pilgrimage is run on chain via this Polygon contract. The Opening Ceremony dApp interacts with this contract. Note: You will not need MATIC as TempleDAO will pay the (very small) amount of gas required for the Pilgrimage.
Note: As explained in last medium, Sandalwood is no longer an ERC20 contract. Rather than let large blackmarket Sandalwood markets form, we allocate and burn Sandalwood natively. This will also have the benefit of saving Templars a lot of gas (bridging is currently very expensive).
There are a number of other contracts that will be updated and deployed in coming weeks: on-chain price stability bot, Temple Defend, Temple Offence, and Exit Queue upgrade.
After that, our next major release is 02 — a swing back to DeFi mechanics and treasury growth core focus. Expect surprises.
They say nothing worth having comes easy.
Your pilgrimage will not disappoint.
Pray for hints.
You’re going to need them.
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