πŸ“… IdleGov Biweekly Update – 03/09/21 [BW7]

Key Metrics

  • Asset Under Management ($): 96M (-19%)
  • Governance Token Holders: 3,095 (+3%)

Forum Highlights

  • :incoming_envelope: 14 topics created
  • :bulb: 3 Temperature Check
  • :busts_in_silhouette: 17 new members
  • :desktop_computer: 11,400 pageviews
  • :+1: 530 likes

The Early LP program has ended, unclaimed funds are now part of the Ecosystem Fund.

Weeks in review

Two weeks after the Pilot League deployment, Project Managers have been already involved in several discussions.

Inspired by community discussions, the committee launched the first grant for a stats dashboard. Applications can receive up to 400 $IDLE reward – the grant will be open until March 17th.

Furthermore, the committee released the Grants Program Framework to let the Governance speed up reward allocation for Development and Community grants.

ETH implementation and Aave V2 wrapper moved forward, and are now live with idleWETH. ReviewsDAO members successfully completed the security check, allowing the idleWETH strategy to approach the production release. Applications, feedback, and payments are posted here.

The Governance kicked off the B2B Affiliate Program Kickoff to reduce onboarding barriers for integrators and incentivize partners with shared rewards. The proposal passed the snapshot poll, with 100% of votes in favor of this initiative.

The hottest topic of the week was staking implementation: after days of brainstorming and benchmarking, the snapshot poll collected the Governance sentiment. Two staking solutions will be analyzed by the committee, with liquidity provision rewards followed by $IDLE staking development.

Other discussed ideas are:

Next Steps

Here’re the next steps for the most promising initiatives:

  • The grant for a stats dashboard will collect applications for some more days. Once the submission window will be closed, the Pilot League will select the applicant entitled to develop the assigned task. Apply now!

  • The Pilot League is already analyzing the Gitcoin Prices Sponsorship and will act fast to set the grant size and release the Gitcoin challenges.

  • PMs are now working on the next step for staking applications. The focus of the upcoming discussion will be LP rewards modeling. The goal is to achieve consensus over AMMs that should be targeted, and size/duration of the program. A Temperature Check might be spun off to check community sentiment.

  • Now that we have idleWETH live, governance can start a discussion regarding $IDLE rewards for idleWETH pool, and Aave V2 extension to other idleToken pools. Once the guarded launch period has been completed, the community can proceed with an on-chain proposal.

  • The Pilot League is setting the ground to connect with prospective partners. Over the next 2 weeks, the committee will present the first insights related to the B2B Affiliate Program Kickoff and start the onboarding procedures.

  • Community members are invited to express their opinion about the Idle Bug Bounty program. A snapshot poll will confirm/refuse this approach for security rewards.

  • Thanks to the Grants Program Framework, anyone can now propose new ideas and get funded by the Governance. You can take a task from the community roadmap or present a new implementation. Idle builders and creators are welcome!

9 Likes

Hey! I’m one of the early LPs who didn’t claim my rewards. I wasn’t aware there was a deadline and was waiting for better gas :expressionless: Is there any way to still claim my reward or is it just lost forever?

I am sorry to hear that you missed the deadline. Unclaimed funds have been transferred to the Ecosystem Fund and are now in the hands of the Governance. Current token holders can decide the final use of such funds (e.g. for staking rewards, retroactive distribution to who missed the deadline, incentives for new products…)

1 Like

So is there anything I can do to appeal to current token holders? I am of course willing and able to prove control of the account. It’s a significant amount of tokens, so I’m really bummed out by this.
I’m a big fan of Idle, but I don’t follow governance very closely.

This proposal would need both off-chain and on-chain approval, as reported in the Community Governance Process.

You can start a new topic here in the forum and discuss your proposal with the community.
If there is a sort of consensus on proceeding with this distribution, you can launch a Snapshot poll to confirm the Governance decision. Then, the officialized proposal (structured as IIP) should land on-chain and token holders would vote to approve or refuse it.

1 Like

Ok, I’ll give it a try. Thank you!

2 Likes