As things stand right now we have a partnership with TEMPLE, we have carried out a $1m token swap with TEMPLE, we have whitelisted TEMPLE to stake FXS and we have agreed to set up a TEMPLE - FRAX pair and add it to our rewards gauge (yet to be complete)
These proposals where all made by team members and where voted in a few months ago.
Due to an issue with the TEMPLE vesting and token unlocking system that resulted in many investors selling their TEMPLE tokens, the market cap of the TEMPLE protocol is now much lower then the value of the assets they hold (mostly FRAX).
i would like to propose the following.
FRAX protocol buys TEMPLE on the open market and stakes it in the TEMPLE DAO protocol.
We vote on the amount to buy
We only complete the trade if TEMPLE token price is still below RFV when the vote is completed.
The voting options will be.
Do nothing = do not buy any extra TEMPLE
Buy $500k of TEMPLE
Buy $2m of TEMPLE
I would request that people do not comment on this thread as peoples comments may indicate the likely vote result.
the vote will go up ASAP based on the FRAX governance time frames.
