The Smart Treasury is on its implementation way, and the latest updates cover the final step for full deployment. The Pilot League got particular attention, with the ongoing voting session.
- Asset Under Management ($): 108M
- Governance Token Holders: 2,427
- 15 topics created
- 2 Temperature Check
- 14 new members
- 13,500 pageviews
- 513 likes
If you joined Idle protocol before November, remember that you have about 17 days to redeem the tokens allocated by the Early LP Fund → [Guide] How Early LPs Can Redeem IDLE
Weeks in review
We concluded the previous update with the opening of League’s applications and the upcoming on-chain proposal for IIP-2. In the last 2 weeks, the Governance moved forward with both initiatives, which are now close to their deployment phase.
The Smart Treasury IIP-2 is almost fully implemented: the community executed the first phase and part #2 is in the final stage (timelock queueing). Both phases successfully reached the quorum, with more than 600k votes each.
Applications for the Pilot League are now closed. Eight people applied, 2 for the PM role and 6 as Supervisors. Idle Governance then moved to the community election phase via snapshot polls. The election is still accepting votes.
Both snapshots will last for 5 days, until 2021-02-10T18:00:00Z
The forum now hosts the new Delegation section, to collect delegates’ applications. You might be interested to delegate your voting rights for different reasons: let builders launch on-chain proposals & vote to execute them, save gas fees, give voting power to contributors involved in protocol development.
Other discussed ideas are:
- Binancechain Integration by @Falcone
- Length of Voting Procedure by @Coinballers
- Automatically refresh IDLE reward speeds by @jnova
- Idle debit card & app by @Falcone
- The second part of Smart Treasury IIP (automatic fee routing) will be executed in a couple of days.
- @william started “IdleTokenGovernace adaptive fix for Aave V2” topic, which requires more feedback. If the community is willing to move quickly with this initiative and no issues pop up, the final decision (merging with Pilot League proposal) should be made in a few days.
- Once the Governance elects the PM(s) and the Supervisors, the Committee should set up the multisig wallet and launch an on-chain proposal to fund their address. In this way, the League would financially independent and be able to work on community activities/initiatives.
- The Governance is now discussing coverage solutions and LPs rewards to allow users to buy coverage for their funds at an affordable premium. Join the conversation and let us know your thoughts
- Emiliano Bonassi’s contributions (3 Idle-based Yearn strategies) gave us the opportunity to start setting up a structured developer mining program. Here you can find an initial development bounty structure that we proposed, drop a comment if you agree with this initiative