Enable $IDLE farming for the WETH Pool

🗂 Proposals 💡 Ideas & Improvements
1

The new WETH pool was introduced by IDLE a few days ago (see here for details). The current WETH pool implements Compound and Aave V2 protocol, providing optimized yields across those providers. Currently, the WETH pool only enables $COMP farming.

Therefore I would like to introduce the idea to also enable $IDLE farming for the WETH pool.

In order to do that we need to have consensus in the community to add WETH to the list of pools rewarded by the Liquidity Mining program.

The ongoing Liquidity Mining program linearly distributes 2,340,000 IDLE (0.5 IDLE per block) until 26 th November 2022.

The Pilot League Committee is looking forward to listening to the feedback from the community! :family_man_woman_girl_boy: :heart:

13 Likes
2

Is there any reasonable explanation for why we shouldn’t do this?

2 Likes
3

This is a good way to incentivize it, I can propose a strategy on yearn as soon as it will be active :muscle:

11 Likes
4

Seems like a natural extension, and no reason I can see not to implement. Let’s go :fire:

8 Likes
5

I agree with the comments above. Liquidity mining is definitely a strong incentive and the market size of ETH lending is pretty big, so Idle can benefit in terms of TVL growth.

Stoked to see a possible Yearn implementation! :rocket:

8 Likes
6

A snap vote has been created here to let the community choose :rocket:. Time to cast your vote :writing_hand:.

The snap vote is open from today till 2021-03-19T19:00:00Z.

7 Likes
7

The Temperature check is complete and the result showed a unanimous agreement to move forward. We can now move on with the IIP. :fire:

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As already mentioned (here) I suggest to add this implementation and the WBTC pool smart contract upgrade simultaneously into the IIP5.

7 Likes