Gold Auctions

Temple Gold is the exclusive base currency for Spice Auctions. During these periodic Auctions, Temple Gold (TGLD) may be exchanged for select Temple Treasury holdings which are not included in the stable backing as reflected by the Temple Price Index (TPI).

TGLD can only be acquired in two ways:

• TEMPLE Holders: Stake TEMPLE for TGLD emissions

• Non-Holders: Bid USDS for TGLD in Gold Auctions

In a Gold Auction, users may submit USDS bids in exchange for Temple Gold. The final Gold unit price will not be settled until the end of the auction once all bids have been received. You do not need TEMPLE to place USDS bids for TGLD!

Submitting USDS Bids early or late does not affect the final price you will receive for TGLD. Only the total USDS submitted affects the final unit price for TGLD in USDS terms.

Gold Auction Example: A total of 1,000,000 TGLD was put up for Auction and a total of 50,000 USDS was submitted by Bidders by the end of the Auction. The final price for TGLD is 0.05 USDS and each Bidder can claim 20 TGLD per USDS pro rata. Since Alice had bid 500 USDS, she would receive 10,000 TGLD or 1% of the auction lot. Since Bob had bid 5,000 USDS, he would receive 100,000 TGLD or 10% of the auction lot.

TGLD is fully cross-chain compatible through LayerZero to allow holders to participate in potential cross-chain Spice auctions. TGLD that was acquired through TEMPLE staking or Gold Auctions are equivalent and can be used in Spice Auctions.

Gnosis users should contact the TempleDAO Team if they wish to bridge TGLD to another chain because TGLD can only be bridged to the same address cross-chain.

TGLD is non-transferrable except to whitelisted addresses and cannot be found on any exchange or spot market. There is no secondary liquidity for TGLD outside of the Spice Bazaar auction framework.

Any purported external liquidity pools for TGLD are fraudulent! TGLD can only be acquired through bidding USDS or staking TEMPLE.