Tempus Becomes First Balancer Grants Recipient to Launch on Balancer V2
Tempus officially launched on Mainnet adding to the thriving ecosystem of diverse teams building on Balancer Protocol
We are thrilled to share that on December 15, Tempus officially launched on Ethereum mainnet. The success of Balancer Protocol comes not only from the Balancer Community, but from the projects building on top of it. Since its inception, Tempus has been laying the groundwork for deploying the most user-friendly and capital-efficient fixed-rate protocol in DeFi.
“This is a very important moment for Balancer Protocol. Tempus has been an incredible project to watch build on Balancer and I’m excited to see their continued success on Mainnet.” — Fernando Martinelli, Balancer Labs CEO & Co-Founder
Tempus
Tempus is a decentralized secondary market for yields that allows users to fix or speculate on their income. Tempus has three different use cases, each of which offers a unique value proposition:
- Fix your future yield using any supported Yield Bearing Token (such as stETH, cDai).
- Speculate on the rate of future yield of any supported Yield Bearing Token.
- Provide liquidity to earn additional swap fees (on top of yield earned through yield farming protocols) by depositing any supported Yield Bearing Token.
Tempus offers users capital-efficient fixed rate yields and high variable yields on various assets (although currently only Lido stETH pools are available, Tempus will be rolling out additional integrations over the coming months). Future yield tokenization and fixed-rate protocols are complex — with a strong focus on user experience, Tempus has sought to simplify access to the fixed-rate market by creating a user-friendly interface.
“We have identified strong institutional demand for trustless fixed-rate ETH 2.0 staking, which is going to be our primary focus for the next few months. Risk-averse investors want to have more certainty about future staking yields.” — David Garai, co-founder of Tempus
Built on Balancer
Tempus was a recipient of a grant from Balancer Grants SubDAO to create a decentralized marketplace on future yield utilizing the Balancer Protocol. Built on Balancer V2, Tempus’ Principal-Yield AMM allows efficient trading between token pairs with predictable volatility and price correlation changes. By using custom AMM logic, users can trade their Principal and Yield tokens against each other to allow them to fix or speculate on yield.
Tempus chose to build on Balancer because of the gas-efficient pool initializations and swaps on Balancer V2. Because of the Vault architecture, Tempus users benefit from multi-pool routing.
Timeline
September
- Tempus received a Balancer Grant to build its Principal-Yield AMM.
October
- Tempus Protocol went live on Goerli testnet.
November
- Tempus raised a strategic funding round. The new wave of funding allowed the Tempus team to grow and accelerated integration with new protocols.
- Tempus conducted a fair launch auction with Copper on November 16th, raising $28 million by selling 6.83% of the total TEMP token supply in 48 hours.
TEMP Token
Tempus is on a path to complete decentralization by becoming a fully autonomous, decentralized organization governed and controlled by its community of users. TEMP is the Tempus ERC-20 native token; as Tempus moves towards full decentralization, TEMP holders will be responsible for governance.
Reaching Mainnet
On December 15, 2021, after months of groundbreaking innovations, Tempus Protocol launched on Ethereum mainnet. Upon launch, Tempus’ Lido stETH ~3-month term and ~9-month term pools became available to users.
Balancer’s long-term success will be the success of what’s built on top of it. Tempus’ mainnet launch is a beacon of this statement and adds to the thriving ecosystem of diverse teams building on Balancer, focusing on different problems, and addressing different markets.
What’s Next?
If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form.
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Disclaimer: Communications from Balancer Labs OU are intended solely for informational purposes, and should not be construed as investment or trading advice and are not meant to be a solicitation or recommendation to buy, sell, or hold any digital assets mentioned. All figures are estimated and unaudited unless otherwise noted. Past performance is not necessarily indicative of future results. As a technology company, Balancer Labs OU provides access to software.
