[Proposal] Rewarding TEMP holders following the launch of Nostra

GM everyone

When Tempus rebranded from a fixed income protocol to multiple product lines, Tempus Labs wanted to ensure that TEMP holders would accrue value from all future products built by the team.

This proposal puts forward how Tempus Labs thinks that TEMP holders should accrue value following the launch of Nostra, our second project.

For context, Nostra is StarkNet-native and is made up of three full-integrated DeFi products:

  • Nostra Money Market
  • UNO Stablecoin
  • Nostra Swap

You can read more about Nostra here: https://nostra.finance/. If you haven’t already, please also join the Nostra Discord!

Tempus Labs believes that Nostra should have its own token (NOS) for the long-term sustainability and decentralization of the project, specifically by enabling its own community governance on StarkNet.

We believe this proposal sets forward a fair distribution where TEMP holders, Tempus SAFT investors and the team receive NOS tokens on the same economic basis.

We propose as follows:

  1. TEMP holders will be eligible to receive NOS equivalent to approximately 60% of their percentage ownership of TEMP on a fully diluted basis.

This means that, for every 1 TEMP you own, you will receive at least 0.6 NOS (assuming the fully diluted token supply for NOS will also be 1 billion tokens, which is yet to be confirmed). The staking programme will run for a period of 2 years.

To be clear, this is not a substitute - the NOS you receive is additional on top of any TEMP you already own.

  1. The number of NOS given to TEMP stakers will be calculated on the basis of currently circulating TEMP and the final numbers may be higher than 60%, depending on how many people stake TEMP.

  2. Staking TEMP will be possible in advance of the release of NOS. Details about the process to stake tokens will be announced closer to the launch of NOS.

  3. Tempus SAFT investors and Tempus Labs will be claiming tokens from a NOS vesting contract on the same basis to receive 60% of their percentage ownership of TEMP and will not participate in staking. Tempus Labs will have no right to issue additional NOS after the token’s genesis.

This would mean that approximately 30% of NOS would be distributed to TEMP holders with the remaining 70% distributed between the Nostra treasury, the community and new investors.

We are aiming to launch NOS in 2023. The exact timing is to be determined.

Next steps

We look forward to hearing the Tempus community’s thoughts on this proposal until 5.00pm UTC on Friday 4 November following which we will proceed to a Snapshot vote.

11 Likes

I am very excited to see this proposal in action because it sets a clear precedent for how TEMP will accrue value in the long run.

The value of NOS can be easily quantified by market participants using the multiplier above.

Agree ! So excited with the team’s proposal. Best way to attract new communities for Nostra from TEMP users.

1 Like

Obv, it’s good. Knowing exact tokenomics of NOS would be better and i think vesting for 2 year is too long.

1 Like

Also, what about Sers? We could use it for staking with bonus NOS rewards.

I think this proposal puts a clear picture for all the TEMP holders as well as an early opportunity to all the supporters of Nostra to get early access to NOS tokens.

My understanding from the above proposal is that each TEMP token is equal to 0.6 NOS token which indicates Nostra is valued more than TEMP. Additionally, the ratio of 0.6 indicates a 1.67x multiplier to Tempus FDV which means Nostra has an FDV of $70 - $75 mln.

With the line of products in production (money market, stablecoin & stablecoin swap) and strong backing from top investors, this looks like a perfect opportunity for all the Tempus and Nostra believers to come together and take advantage of this proposal.

I look forward to more info on TEMP staking.

Agree ! So excited with the team’s proposal. Best way to attract new communities for Nostra from TEMP users.

1 Like

It seems to me that the proposal is very well made, what I do not think is the time for participation, I think it should be less.

1 Like

I’m fully supportive of this proposal as I believe it paves a clear road for value future value accrual to TEMP holders. I hope the community fully supports this.

Thanks everyone for your feedback. We’ll be launching a Snapshot vote tomorrow (Monday 7 November).

I agee with the proposal and i´m very excited with the new project.

Hi all - the Snapshot vote on this proposal is now live at the link below and will run until 12.00pm (midday) UTC on Thursday 10 November.

https://vote.tempus.finance/#/proposal/0xf617854965410ecf045c425f8b4016ff64c646457f63431bed271a182cb37998

The Snapshot vote for this proposal closed with 100% of voters in favour of the proposal. Thank you to those who took the time to provide their feedback and vote. More details will be released in the coming months - watch this space and keep an eye on our social media channels for further news!