Tempo DAO public launch and presale recap
In our latest article, we would like to update you Tempo DAO’s public launch and recap our presale.
But before continuing, we have some HUGE news that anyone who has been following our Discord is already aware of…
Introducing Franz (also known as Enigma), Founder of Skywarrior Studios, and more importantly (and recently), Tempo DAO!
A message from Franz:
Hello, Tempo DAO community! As you know, since the beginning of this project, our goal has been to bring you all as much value as possible in the long term.
One of the early decisions we made as a team was to keep our identities anonymous for safety reasons.
However, I believe that doxing at this time is the right move to prove our legitimacy and inspire trust in our community.
My name is Franz and I’m the Founder of Skywarrior Studios. More importantly (and recently), I’m extremely happy to be the founder and one of the three core team members of Tempo DAO.
I’m looking forward to this next step for the Tempo DAO community.
Thanks to you, the incredible Tempo DAO community, once whitelisted users’ 24 hour window to purchase finished, the remaining presale tokens (~30,000 TEMPO or $120,000) sold out within 3 minutes!
That means we reached our presale goal of raising $300,000. Congratulations to everyone who got in on the presale!
If you need a refresher on what this initial $300,000 will be for:
- $100,000 to fund a MIM/TEMPO liquidity pool on Trader Joe. The LP tokens will be permanently locked inside the Tempo DAO’s treasury to ensure that TEMPO is a reserve-backed currency.
- $100,000 to support the core development team’s operations and project development.
- An additional $100,000 will be kept in Tempo DAO’s treasury to ensure a minimum value of 2.50 MIM per TEMPO.
We cannot express how thankful we are to the Tempo DAO community for your support in this successful presale. As we’ve said from the beginning, our intention has always been to revolutionize the Play to Earn space.
With the funds raised during the presale, we are one step closer to establishing the first ever game studio DAO where games are created by the community, for the community. Any major development decisions will be made with TEMPO token holders by voting.
In other words, you decide what you want to play.
Public launch — November 28, 2021
If you missed our presale, not to worry! You’ll have another chance to get in early on TEMPO.
The public launch will be held on Sunday, November 28, at 3:00 PM UTC on Trader Joe.
If you are confused about the time, use the Time Zone Converter to figure out what time it is in your country.
1 TEMPO will be worth 10 MIM at launch and it will be available for purchase on Trader Joe.
However, as soon as the token launches, it will be subject to the market, meaning its price could increase or decrease depending on demand.
Staking and bonding app
A key part of our public launch will be the unveiling of our staking and bonding platform.
We aim to have an early staking APY of ~500,000% to reward early adopters, increase the treasury reserve, and raise funds for further development of our Play to Earn ecosystem.
Minting will be another way Tempo DAO will provide the community with a value growth opportunity.
How does minting work?
- When users mint TEMPO tokens, they are buying a bond from the protocol, exactly the same as they would on Olympus DAO or Wonderland!
- The Tempo DAO protocol will quote the minter with terms for a trade at a future date.
- These terms include 1) a predefined amount of TEMPO the minter will mint and 2) the time when vesting is complete.
- Your bond becomes redeemable as it vests. For example, in a 10-day term, 3 days into the term, can claim 30% of the rewards.
- By allowing our community to buy bonds through minting, Tempo DAO accumulates our own liquidity. Having more liquidity in the protocol helps ensure that there is always locked exit liquidity in our trading pools to facilitate market operations and protect token holders.
- Since Tempo DAO becomes its own market, on top of additional certainty for TEMPO investors, the protocol accrues more and more revenue from LP rewards bolstering our treasury.
Even if Franz recently doxed himself, we are still considering creating a multi-signature wallet to guarantee the safety of the treasury.
With a multi-signature wallet, we will have 3 private keys, instead of 1 associated with the wallet.
Each of the 3 founding members of Tempo DAO will have a private key to ensure there is always consensus for decisions concerning the treasury’s funds.
What are multi-signature wallets?
Multi-signature wallets are used to ensure security and best practices in DeFi projects. These wallets can send and receive funds, as well as interact with contracts on the blockchain. Multiple trusted parties are added as “signers” who are responsible for confirming submitted transactions. Transactions can only be executed if a minimum number of confirmations are received.
Using a multi-signature wallet is an excellent way to secure project funds and smart contracts. Without multi-signature wallets, projects risk trusting one person/wallet with funds and ownership of smart contracts.
In the worst case scenario, this can lead to the funds and security of the project being put at risk.
With a multi-signature wallet, all transactions are reviewed and signed off by multiple people to ensure transparency and prevent malicious actions.
How to add the TEMPO token to MetaMask
You will be able to add TEMPO to your MetaMask wallet on the Tempo DAO website by clicking the top right corner of the Tempo DAO website and following the MetaMask instructions.
However, below you will find an alternative method that works just as well:
- Open Metamask.
- Click Import tokens.
- Enter the contract address in the Token Contract Address field.
- Click Add custom token.
Note: As of right now, we need to deploy the contract to get the address, but we will be providing updates on this shortly.