Last year, there was an attempt to tout almost all cryptocurrencies as “the next Bitcoin” due to Bitcoin’s meteoric increase in popularity. Because of this, many individuals raced to buy these currencies, unaware of the currency’s high volatility. Due to which many faced losses. However, if they had knowledge about stable coins, they would have come up with an informed investment decision. Thus, having cryptocurrency education becomes crucial for novice investors.
The cryptocurrency advisory course is available that provides highly-insightful guidance of cryptocurrency expert groups.
Here, the article shares everything you must learn about templeDAO coin, a successful stable coin in the market today. The aim is to provide informative content on crypto coins that are more reliable alternatives to Bitcoin and Ethereum.
What is TampleDAO?
TempleDAO is an autonomous organization (Decentralized Autonomous Organization), with the objective of keeping your investments stable while providing you with good returns. How? By developing a technique that goes beyond traditional indexed currency baskets to give properly balanced exposure to the growing coin market. When it comes to the volatility of retail defi, TempleDAO feels that it is not because defi and cryptocurrencies do not have any inherent worth, but rather a consequence of a lack of accessible goods and offers. Thereby it focuses on a collection of carefully selected, technologically advanced, and fully automated investment options that will enable consumers to either maximize return or minimize risk. The first of their offerings is $TEMPLE, which is the redesign and enhancement of a community token. There are two ways to protect or hedge against downside risk offered by $TEMPLE:
- Staking your TempleDAO tokens in the temple will boost your yields during periods of volatility, allowing you to maintain your value. As a result, there is a reduction in the circulating supply and an increase in the upward pressure on the price.
- The protocols control an approach to purchasing. One can purchase $TEMPLE tokens directly by the Temple from ngmi beta males who simply want to hfsp. During a downturn, the treasury will use its pre-acquired funds to purchase these tokens at a slight premium. The PCV (Protocol Controlled Value) of the Treasury increases in times of increasing prices, suggesting that the larger the Treasury’s reserves, the more protected users are against a downturn.
What Makes $TEMPLE different from other tokens and cryptocurrencies?
By design, $TEMPLE is not like any other. Holders of $TEMPLE gain from the expansion of its ecosystem.
The first rule is straightforward. More $TEMPLE holders will be rewarded as TempleDAO expands. This is due to the fact that protocol characteristics decrease volatility and reward long-term investors.
There is a reduction in the price volatility and reward is given for long-term ownership with the characteristic which is one of a select few. Stakeholders (those who purchase and hold $TEMPLE) get value throughout time, not only at the moment of a price boost. As a result, even without the pump and dump incentive, you still obtain the same value. There is a deployment of some systems or characteristics to make this possible.
The fundamental value of $TEMPLE never decreases and never diminishes. There is a cap on TempleDAO token minting by the amount of value it generates. Collateralization of protocol-controlled assets is a constraint on token supply increase. The protocol will not allow unscrupulous sellers to dump on hodlers or dilute stakeholder capital by creating new coins out of thin air. In most procedures, there is a violation of believers’ faith in order to benefit short-term speculators. By limiting volatility and rewarding long-term investors, TempleDAO aims to establish a pump-and-dump resistance.
How can $TEMPLE reduce the risk of volatility?
$TEMPLE has developed five techniques or features to lessen volatility. Buying and staking, on the other hand, is where it all starts. Buying $TEMPLE may be done in two ways: from the market maker’s computer program (AMM) and via the use of an app called TempleDAO. Differences in cost and where your money goes are the most important factors to consider.
When you buy from an AMM, you drive up the price, which is something that everyone enjoys. It’s a competition to see who can get their product on the market earliest to profit from the inflated price. Instead of affecting the price of the token, purchasing through TempleDAO ensures that your money goes directly to the reserve fund, where it can produce income and build the protocol. As protocol reserves increase, so does the inherent value of the system. How would this help you? Safe Harvest is the solution.
There is a concern of the TempleDAO team that if too many $TEMPLE tokens are distributed as gifts or freebies, there will be a devaluation in the token’s value, leading to a vicious cycle of token dumping. As a result of this, there is an implementation of the Safe Harvest feature, which only allows $TEMPLE minting when protocol reserves and intrinsic value have grown. The inherent worth of TempleDAO’s tokens will reduce, which will cause the price to fall. The reserve growth will control $TEMPLE payouts, therefore you can only anticipate a positive return since there is an opposition to TempleDAO for degrading the token’s inherent worth. That’s why it’s not going to be a 1,000 percent inflation yield token that’s going to be thrown on you. A considerably lower but more secure return is being offered in exchange for meaningful increase in intrinsic value.
Safe Premium, sometimes known as a price ceiling, is another function which one can use to halt the AMM pump and dump. The TempleDAO protocol offers $TEMPLE to customers at a multiple of 3x to 6x the inherent value, making it easy to understand the notion. Automated Market Makers will be unable to raise the price of the protocol if they sell $TEMPLE at a set price. Because the TempleDAO system is selling the currency at a lower price, no one would purchase via the AMM. Buying cheap tokens from TempleDAO and selling on the AMM gives an arbitrage opportunity. Increase in reserves, in turn, increases the intrinsic value and benefits for stakeholders as more individuals purchase from TempleDAO to take advantage of the lower price point. This facility of safe premium can be useful in a satisfactory cryptocurrency trading experience.
This may happen from time to time using TempleDAO’s Safe Harvest. Because of this, the platform is able to provide greater value than normal prices. But, for a limited time period. When this occurs, the users get a Special Offer, which is a once-in-a-lifetime chance to earn a higher-than-normal APY. You can join a cryptocurrency course to learn more about these pointers.
It’s as easy as entering an orderly line to depart when you stake your $TEMPLE or wish to payout. Every block has a maximum quantity of $TEMPLE for unstacking, and if this reaches the limit, you’ll get reassignmet of the next block. As a further restriction, the permission for the the quantity of unstacking every day has a limit to a certain amount (currently at 3 percent per day). This function intends to keep the game fair by preventing unneeded runs, reducing volatility, and so on.
The Temple Defend
If $TEMPLE sells on AMM for too cheap, you may sell it back to the TempleDAO protocol via Temple Defend at a predetermined amount. As a result, Automated Market Makers (AMMs) may acquire $TEMPLE at a discount from the protocol and resell it back to the protocol for profit, pushing up the price. Finally, TempleDAO wants to promote long-term holding or staking by producing stable, non-volatile, pump, and dump-proof DeFi products. They established a system where everyone may share in the rewards and profits by incorporating features that restrict rewards and overstock, control pricing, and eliminate overruns.
How to buy TempleDAO?
Currently, this currency is not yet available on any major Indian crypto exchanges. However, you may be able to purchase it with another cryptocurrency, just be sure you’re following all legal restrictions and requirements.But, for now it seems that TEMPLE may not be accessible for trading.
However, you can still use an exchange decentralization (DEX) to acquire TEMPLE. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another. Smart contracts, which are self-executing bits of code, power decentralized exchanges (DEXs). To use a DEX you must interact with the blockchain directly, which is not a recommendation for novice users. If you’re new to decentralized exchanges, you should familiarize yourself with them first.
The cryptocurrency developer teams might release a version soon that will make TempleDAO tokens accessible to Indian crypto exchanges as well.
Decentralized exchange for purchasing TEMPLE
Find a decentralized exchange where you can trade TEMPLE for ETH, Ethereum’s native currency. Uniswap, SushiSwap, and 1inch are among the most popular DEXs. Ensure the exchange provides robust cryptocurrency security.
Buy ETH to trade for TEMPLE using an exchange like Binance. One can purchase both TEMPLE and ETH transaction fees on the Ethereum network before you may exchange them (known as gas). You can estimate the Gas expenses by using a site like Etherscan.com.
Using MetaMask, a web 3.0 wallet, you may access the DEX.
Follow the on-screen instructions to trade ETH for TEMPLE on the decentralized exchange of your choice. Your wallet should be able to cover petrol costs.
The TEMPLE tokens will come in your wallet after the transaction is complete.
You may also use a hardware wallet or your web 3.0 wallet instead of keeping the tokens.
In order to sell your tokens, follow the same steps, or check back here to see if they are currently available on an exchange.
Points to consider while buying TempleDAO
A throrough examination of both the platform and the cryptocurrency precedes investing in a cryptocurrency or platform. Some things to keep in mind while buying TEMPLE:
“Temple Defend,” a mechanism meant to reduce price instability, which one can apply on TempleDAO’s network. You can sell staked TEMPLE back to the protocol at a preset rate if automation of market makers (AMM) start selling them for too low a price. This enables investors to repurchase the TEMPLE they just sold through an AMM for a profit. TEMPLE’s price will rise again after a period of time because of this mechanism.
The TempleDAO platform isn’t as simple as other decentralized financial earning programs, since it incorporates metaverse components into its DeFi capabilities. Participation on the platform necessitates visiting the temple, and one can access some features only by traveling to the appropriate rooms inside the temple. The progress can influence the popularity of TempleDAO’s metaverse experience and the future price of TEMPLE.
TEMPLE possesses some of the qualities of stablecoins, despite the fact that they aren’t really stablecoins. For example, a fractional reserve backs all TEMPLE tokens by a fractional reserve of stablecoins, such as the Bitcoin stablecoin. With this and the network’s anti-volatility algorithms, a coin’s value is unlikely to witness sharp increases. There is a minimization of losses, but also there is an aversion of the potential profits from using an alternative cryptocurrency.
How to sell TempleDAO?
You can exchange your TempleDAO for cash at the same exchange you used to purchase it:
- Sign in to the TEMPLE exchange.
- Comparing cryptocurrency exchanges to sell your TempleDAO on is a good idea.
- Sell your shares.
- Select the number of TEMPLE you want to sell.
- Your transaction is complete, so you can go on to the next step.
- Close the sale of TempleDAO by confirming the selling price and fees.
They want you to have long-term wealth building, but TempleDao will also provide investing tactics like risk-trading and others to help you achieve that goal. You may pool with other Templars to conserve gas, change between vaults and tactics depending on your personal risk profiles, and (this is just theory) compete and win rewards for creating the best strategies utilizing Temple’s automatic risk management capabilities. TempleDao isn’t simply a staking platform; it’s a long-term wealth-creation DeFi investing platform.
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