TempleDAO (TEMPLE)

Yield farming protocol

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:

Audits & Exploits

• Partnered with Hats Finance for their Bug bounty program, which can be found here. It is 450k $TEMPLE tokens (1-2023).
• Has 3 audits done in 2022.
• Scored 82% on DeFi Safety (2-8-2022):

"DeFiSafety’s Whispers have been heard; TempleDAO was very collaborative in increasing their scores and it is our pleasure to announce the protocol has scored a high 82% and is still working on improving their documentation. With spotless Oracles, Admin Controls as well as meticulous security and testing, there isn’t much that the Temple team requires prayers for.  This is completed by an audit, $310K bug bounty, immutable contracts, flash loan and front running mitigation, the team has it all.

Our only comment would be regarding the protocol’s architecture and function documentation. The devs have been explicitly showing efforts into setting up the required documentation, and we’re not concerned that this will be answered very soon."

But in the actual report it states:

"TempleDAO has been audited once before deployment. Their PeckShield audit lists 4 issues of varying severity, 2 of which have not yet been fixed, one of which is of medium severity."

Bugs/Exploits

• Got exploited for $2M on 11-10-2022.

Governance

Admin Keys

• From DeFi Safety (1-8-2022):

"TempleDAO's contracts are labelled as immutable here and the mutable policies are indicated here. The protocol's admin controls' page indicates smart contract ownership to be multisig when it comes to the Gnosis Safe treasury and administration, while protocol policies and on-chain operations are restricted by OnlyOwner here. The protocol identifies why timelocks are not necessary in their Timelock documentation."

Token

Other Details

• From the docs (2-2023):

"As the Temple treasury grows, the price of the TEMPLE token appreciates in tandem with a metric called the Treasury Price Index (TPI). From the token holder’s standpoint, TEMPLE price gradually increases over time with no staking or lockups necessary."

Technology

• Whitepaper or docs can be found here.
• Code can be viewed here. From DeFi Safety (1-8-2022):

"At 908 commits and 24 branches, the temple repo has good development history."

Implementations

• Built on: Ethereum, Arbitrum, Polygon and Optimism (1-8-2022). However, the L2s seem to only hold wrapped tokens.

How it works

• From their Twitter (20-1-2023):

"Price protection: RAMOS replaces Temple Defend and protects $TEMPLE from downside PA using the Treasury Price Index (TPI) as its guide. TPI is an appropriate minimum target price relative to Treasury holdings. Simply put: When price trades below TPI, RAMOS pushes it back up.

Maximizing Treasury earnings: RAMOS unlocks previously idle funds used for price support so they can be put to work farming. RAMOS manages the $TEMPLE/$bb-a-USD LP, which farms and earns 24/7. RAMOS profits off volatility as it always buys back TEMPLE at below-liquid backing."

Upgrades

• Is immutable, would only upgrade through new contracts (2-2023).

Staking

• Used to have vaults and staking, but both are deprecated (2-2023).

Oracle Method

• From DeFi Safety (1-8-2022):

"TempleDAO clearly outlines that they do not use any oracle here. TempleDAO mentions a max slippage setting on their AMM as a mitigation technique to make frontrunning not profitable. The protocol clearly outlines that flashloan attacks are not applicable to their protocol due to the locked fund function here."

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• TempleDao' docs indicates that the team behind TempleDao remains anonymous.

(:

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