Idle Staking and Voting

Proposals
#1

Now that I’m starting to accumulate idle here (I had bought some on uniswap earlier and now am using it to supply more liquidity)

I’m really interested in how I can:

  1. Stake Idle to earn more rewards (and keep price up)
  2. Participate in voting without needing to leave my idle as an unproductive asset
  3. Auto-stake my earned governance tokens
  4. Not spend all my gains on gas

Is it possible to create a system where - earned idle yield is automatically staked (without spending gas) and you can vote with your staked idle without using gas. I think this would be really useful in making people feel more invested in the protocol and remove the disincentives to participate.

3 Likes
#2

Hey @tom, all really good points here:

This has been discussed multiple times, and it looks like our community is going that way – this might be an interesting initiative that the Pilot League can take care of.

If you want to see the current status of it, check these posts:

This would be useful, I got feedback from some other users that were asking to allow them to vote with yet-to-be-claimed $IDLE tokens – I think it’s relatively easy to do for Snapshot pools, but having multiple whitelisted tokens for on-chain proposals would require a change in Idle Governance module.

This might be an interesting feature once a staking system is in place – my only thought here is that auto-staking still requires making a tx, so it’s not that straightforward as you would need to have someone triggering this automation and paying for the gas cost.

This still depends on ETH network congestion and deposited amount, but we can set up a batched system for redeems (now available for deposits, with a ~25% gas reduction) to ease the gas burden for our users.

6 Likes