This document describes how to propose an IIP (Idle Improvement Proposal) and what is its implementation path, from idea to execution.
IIPs are the tool to let the Idle Governance implement new ideas in Idle protocol through transparent on-chain voting processes.
IIPs are executed if the majority (50% +1) of the voters cast a “For” vote and at least 4% of the total voting right supply [520,000 IDLE] has casted a vote on that proposal, in favor or against.
Community members can create a proposal if they have at least 130,000 IDLE as delegated votes and hold them during the entire voting process (up to the implementation).
The IIP process uses 3 portals and consists of 7 steps, that are detailed in the Community Governance Process.
How to write a structured proposal (IIP)
We suggest to use the following structure for the creation of the proposal as a post in the Forum (off-chain). Write a post labeled as follows: “[Proposal] - Your Title Here”:
Who have the idea and lead the proposed change
Short description of why are you writing this proposal and the expected outcomes
Show what is wrong or can be improved. Provide tangible elements, like analysis or data.
Describe how you solve the problem. Define the process according to the operational and technical point of view.
- Project deliverables
- Tech specifications
Who will benefit from this change? How can the benefit be measured?
Are there tech issues? What could be unexpected scenarios? Are there drawbacks?
Link here the post related to the Idea stage, the Temperature Check and the upcoming Consensus Check.
Link external sources or case studies that can reinforce your statements
The on-chain proposal needs to follow this structure:
Write in human-readable terms what is the purpose of this proposal, benefits and drawbacks. Link here the posts related to the Idea discussion, the Proposal in the Forum, the Temperature Check and the Consensus Check.
List the implementable code in the form of Actions.
Step-by-step Guide for on-chain proposals
To create an on-chain proposal, community members need to use a Ethereum wallet (e.g. MetaMask).
Step 1: Connect the wallet and land in the homepage
Click on this link: https://idle.finance/#/governance
Click “Connect” in the left part of the header, choose “Ethereum Wallet” and select your wallet type.
Step 2: Proposals category
Once you hold enough voting rights and have connected your wallet, in the homepage you can click on the “Proposals” category. Here you see the button “New Proposal” in the upper right of the page.
Step 3: Create Proposal
You are redirected to the creation page: here you have to write the title, the description of the proposal in simple terms and add the Actions that will be executed once approved.
Each proposal is required to have at least one Action. Up to 10 Actions can be implemented in each proposal. You can select the contract and the functions, that may require to enter additional inputs.
After filling the list of Actions, click “Submit Proposal”.
After one block (Pending State), the proposal is activated and IDLE token holders can vote in favor or against.
At any stage, the proposal can be cancelled only by its creator.
If the proposer goes below the 130,000 delegated IDLE threshold at any steps before the execution of the proposal, anyone can delete it.