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Temple FAQ

Temple

  • Epoch duration: 6 hours
  • Deposits / Withdrawal of GSCARAB into/from the Temple will lock GSCARAB for 6 epochs and SCARAB rewards for 3 epochs.
  • SCARAB rewards claim will lock staked GSCARAB for 6 epochs and the next SCARAB rewards can only be claimed 3 epochs later
  • Distribution of SCARAB during Expansion
    80% as Reward for Temple GScarab Stakers
    15% goes to DAO fund
    5% goes to DEV fund
  • Epoch Expansion: Current expansion cap base on SCARAB supply, if there are bonds to be redeemed, 65% of minted SCARAB goes to treasury until its sufficiently full to meet bond redemption. If there is no debt it will follow max capped expansion rate

Temple UI Available information

Next Seigniorage indicates a countdown timer to the next epoch. (Each epoch duration lasts for 6 hours)
APR refers to the simple returns in USD value relative to the amount of GSCARAB staked (USD value). Note: APR fluctuates from time to time and is dependent on certain factors such as:
  • Price of SCARAB
  • Price of GSCARAB
  • Amount of GSCARAB staked in Temple(Locked Value)

Boardroom on Contraction Periods

Temple will not mint any SCARAB (NO REWARDS ON TEMPLE) while TWAP < 1.01

Temple on Debt Phase

Debt Phase take place on the expansion epochs that start after a contraction period where there are still Sbonds to be redeemed.
65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the SBOND Redemption. This amount is still reserved whether or not SBOND holders are redeeming bonds or not.
Once SCARAB in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.
SBOND emitted per epoch during contraction periods can be found on Regulations.

โ€œOnce SBONDS are emitted, does the Temple stop printing $SCARAB until we are above peg again?โ€

Staking $GSCARABs will give you $SCARAB rewards when the price of $SCARAB is above the peg (1 SCARAB : 1 FTM), but not when it is under the peg.

โ€œWhat happens if I interact with the Temple in any way?โ€

Any interaction with the temple will reset both timers. That's 3 epochs (18 hours) to withdraw your SCARAB rewards, and 6 epochs to unstake your GScarab (36 hours).

โ€œAre the Temple rewards pro-rated by time? I.e if I stake three hours before the end of an epoch vs five hours before the end of an epoch, do I get different rewards?โ€

No, it's determined by how much you have staked at the time of printing (i.e. end of one epoch and start of the other). It doesn't matter if you stake 3 hours before or 30 seconds before the emissions occur.

"If I remove my $GSCARAB from Boardroom without first collecting my $SCARAB, will it be lost forever?"

No, it will still be there to collect whenever you need.

"The Temple APR dropped because we're in a 'debt phase.' What does this mean?"

A debt phase takes place on the expansion epochs that start after a contraction period where there are still $SBOND to be redeemed.
65% of Expansion during Debt Phase is allocated to the Treasury Fund to prepare for the SBOND Redemption. This amount is still reserved whether or not SBOND holders are redeeming bonds or not.
Once SCARAB in treasury is sufficiently full to meet all circulating bond redemption, expansion rates will resume to normal.

"If we're in a debt phase, how long will it last until the Temple continues printing as normal?"

The debt phase will last as long as is necessary to adequately pay back outstanding $SBOND debt. Please keep in mind that the DAO will also need to collect a little extra, as there needs to be a cushion to cover the bonuses when people redeem $SBOND over peg. There's no exact way of calculating how many epochs it takes, since we don't know exactly when people will redeem their $SBOND. If the debt phase is ended too early, and then the treasury doesn't have enough $SCARAB to repay the $SBOND bonus, then the APR restriction would need to be turned back on.

"At the end of the epoch, the Temple did not print $SCARAB, and then no $SBOND(s) were issued in the pit. Why?"

There is a balanced state "at peg" when $SCARAB's TWAP is between 1.00 and 1.01, and this means there is neither contraction nor inflation.

"If SCARAB continues climbing above the price of the peg, will that influence how long the debt epoch lasts?"

Depending on the price of SCARAB, the Temple print will have to adjust to provide a buffer for any unclaimed SBOND. As the price of SCARAB climbs above the peg, more SCARAB needs to be distributed to the treasury to account for SBOND bonus redemption.
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Temple
Temple UI Available information
Boardroom on Contraction Periods
Temple on Debt Phase
โ€œOnce SBONDS are emitted, does the Temple stop printing $SCARAB until we are above peg again?โ€
โ€œWhat happens if I interact with the Temple in any way?โ€
โ€œAre the Temple rewards pro-rated by time? I.e if I stake three hours before the end of an epoch vs five hours before the end of an epoch, do I get different rewards?โ€
"If I remove my $GSCARAB from Boardroom without first collecting my $SCARAB, will it be lost forever?"
"The Temple APR dropped because we're in a 'debt phase.' What does this mean?"
"If we're in a debt phase, how long will it last until the Temple continues printing as normal?"
"At the end of the epoch, the Temple did not print $SCARAB, and then no $SBOND(s) were issued in the pit. Why?"
"If SCARAB continues climbing above the price of the peg, will that influence how long the debt epoch lasts?"