Temple AMM resumes

  1. Some changes are better in alignment with our principles, our stated intent for the AMM launch, and the long-term health of the protocol. We are attempting to prioritize the long-term benefit of the Temple.
  2. We were conscious of changing the rules of the game for participants e.g. the changing the order of unlocking in the middle of the process.

The problem

In short: The current dynamic will strongly disincentive buying $TEMPLE for over a month, while the Treasury value is drained at unnaturally high prices.

The solution

A solution needs to include the following elements:

  1. We acknowledge that some people were able to participate in the high liquidity, but believe it is better to stop a dynamic that was detrimental to the long-term health of the Protocol as fast as we can rather than leave it
  2. During this time of volatility and unlocking, lower liquidity will allow faster price discovery. Once we find the right level, liquidity can be added if we choose.

Next steps

We will be immediately reducing liquidity and resuming trading so as to return to the commitment made during the Opening Ceremony.



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