πŸ“… IdleGov Biweekly Update – 02/22/21 [BW6]

Key Metrics

  • Asset Under Management ($): 119M (+10%)

  • Governance Token Holders: 2,991 (+23%)

Forum Highlights

  • :incoming_envelope: 14 topics created

  • :bulb: 1 Temperature Check

  • :busts_in_silhouette: 12 new members

  • :desktop_computer: 11,600 pageviews

  • :+1: 406 likes

If you joined Idle protocol before November and still need to claim, remember that you have just few days to redeem the tokens allocated by the Early LP Fund!

[Guide] β€” How Early LPs Can Redeem IDLE

Weeks in review

Pilot League is now on! With the elections closed on February 10th, we now have 2 Project Managers (@emixprime and @Salome) and 4 Supervisors (@simoneconti, @8bitporkchop, @ETM612, and Idle Labs). They will act on behalf of the Idle DAO, promoting community activities and value creation.

A Leagues structure can allow a DAO to delegate day-by-day maintenance to semi-decentralized departments, which then deal with operations, development, campaigns, and improvements. Its mission is to provide a professional distributed organization that delivers value for tokenholders, yet maintaining open participation.

Pilot League is the first iterative experiment for this new structure and will help to move toward a multi-Leagues implementation.

The IIP-4 formalizes the Pilot League’s budget allocation (5000 $IDLE) and the IdleTokenGovernace Aave V2 adaptive fix implementation. Through a Snapshot Poll, the Governance approved this merge. The on-chain proposal reached the quorum and has now been queued in the timelock.

The Smart Treasury is now operational and receiving fees from the FeeCollector: ~5 ETH collected during the first week and then doubled in the second week.

Lastly, Idle just started off a security review ask with DAO Review. Here’s the peer review request for the Aave v2 wrapper.

Other most discussed topics are:

Next Steps

With Pilot League almost fully operational, here’re some initiatives that would require community feedback to move forward:

  • Since the earliest post in this forum, we aimed to encourage idea generation through bounties for proposing IIPs that get implemented. Along with the committee, we would like to pursue this direction and start a series of community bounties to foster value creation for the protocol.

  • @emilianobonassi’s bounty for Yearn integration and protocol development is awaiting for a snapshot poll to fine-tune the reward for his contributions.

  • @Falcone proposal for a community analytics dashboard grant would be a suitable low-effort/high-value initiative for the protocol. We’d love to move this forward, and get more insights on data viz and metrics you would like to see in the dashboard. A community bounty would probably speed up the development.

  • @william encouraged the community to set up a formal Bug Bounty program to incentivize security researchers and whitehat hackers to contribute to protocol resiliency and effectiveness in its functionalities.

  • @Salome just moved forward the Staking implementation, tapping from all the previously discussed models and reached out to the community for feedback. We can have many models and goals to pursue with this new feature – we would love to hear your voice in the forum and your opinion on the possible models!

9 Likes

Thanks for this! Very exciting stuff!

For future updates, can we also get a comparison from previous weeks for the key metics? Eh how much did tvl and unique holders change.

1 Like

Thanks for the input! Just edited w/ growth figures!

2 Likes