Vote to migrate to Tempo DAO’s V2 token to ensure long-term growth and reducing inflation

Tempo DAO’s vision for our project has always been long-term. It’s now time for our tokenomics to reflect that as well. This means moving further away from Olympus DAO’s hyper-inflationary model to a more sustainable platform. That’s why we’re proposing our V2 token.

TLDR:

Here are the main points: Migrate to V2 token that establishes a buy/sell tax system (reward holders, incentivize holding, disincentivize selling, increase treasury, reduce inflation) V2 token have a 1:10 ratio with V1 token (i.e. 10 V1 TEMPO = 1 V2 TEMPO) Create wrapped staked TEMPO (wsTEMPO) for tax purposes

Buy and sell tax

If successful, this vote would implement a buy and a sell tax. Why is this good for TEMPO?

First of all and most importantly, taxes directly benefit TEMPO holders. 50% of taxes collected will be distributed to all TEMPO and sTEMPO holders. This means that you are increasing your position simply by holding.

Second, 25% of all taxes are BURNED, which directly reduces inflation and again benefits TEMPO holders.

Third, the remaining 25% will go to the treasury. This ensures the long-term viability of the project through game development, hiring new team members, increasing our marketing budget, and many other things related to project development.

This division of taxes works together to reduce inflation, reward our community, incentivize investors to hold their positions. This literally codes our long-term vision into our tokenomics.

The tax brackets are based on the price of TEMPO can be seen below:

Buy tax: below 50$ - 0% 50-150$ - 1% 150$ - 2%

Sell tax: under 50$ - 15% 50-100$ - 12% 100-150$ - 9% 150$+ - 5%

For example, if the price of TEMPO is at $30, any investor who purchases TEMPO will not pay any tax. If the price were to be at $139, they would pay a 1% tax. On the other hand, if the price of TEMPO were $21 and an investor wanted to sell, they would pay a 15% tax on the sale. If TEMPO’s price was $169, then they would only pay 5%.

Wrapped staked TEMPO (wsTEMPO)

wsTEMPO consists of the price of TEMPO multiplied by the index. The index, which you can monitor on our dashboard, equals how many TEMPO per one TEMPO you would have if you were staking from the beginning when the project launched.

wsTEMPO appreciates (or depreciates) in value just the same as sTEMPO does, without actually accruing rebases, which are a taxable event.