Tempus Receives Grant from Balancer Grants DAO

Tempus is the recipient of a $50,000 grant from Balancer Grants DAO for building a new AMM on top of Balancer V2.

Tempus is building a protocol that offers a DeFi-native, tradable alternative to interest rate swaps. Users can deposit yield bearing tokens like stETHthat Tempus splits into Principal and Yield tokens.

Principals are zero-coupon bonds whose redemption value corresponds to the stETH deposited. Yields are also zero coupon bonds that can be redeemed for the amount of yield that one Principal accrues.

Tempus allows users to trade their Principal and Yield tokens against each other using a custom AMM logic that is built to be capital efficient.

We chose Balancer V2 because of its inherent benefits to our users. The gas savings aspect is a no-brainer — pool initializations and swaps on Balancer V2 are very gas-efficient. In addition, our new primitives will be added to the Balancer Vault, so our users will be able to benefit from multi-pool routing.

— David Garai, Co-Founder, Tempus

The grant amount of $50,000 will be spaced out over four milestones. They plan to complete two audits on AMM’s codebase along with completing testnet and launching on mainnet before claiming the grant amount.

It is truly amazing to see how the V2 of Balancer is already inspiring new teams to come up with ways to build out more money legos. Showcasing these possibilities is what the grants program is all about! I believe this will be the beginning of a longstanding collaboration between Balancer and Tempus

— Zeb, Grants Lead, Balancer Grants

About Balancer Grants

The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.

The BAL Grant program provides support and funding ($1K — $75K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.

About Tempus

Tempus is a protocol where users can re-allocate the risk of interest rate fluctuations between each other. Users can deposit their yield bearing tokens (such as stETH) which Tempus splits into tokenized principal and yield tokens. Those primitives can then be traded against each other through the custom Balancer v2 AMM.

📰 INFO

https://medium.com/tempusfinance/tempus-receives-50-000-grant-from-balancer-grants-dao-26a21de99ffa