πŸ“… IdleGov Biweekly Update – 05/17/21 [BW12]

Key Metrics

  • Asset Under Management ($): 255M (+52%) :rocket:
  • Governance Token Holders: 3,165 (+1%)

Forum Highlights

  • :incoming_envelope: 9 topics created
  • :bulb: 0 Temperature Check
  • :busts_in_silhouette: 4 new members
  • :desktop_computer: 12,600 pageviews
  • :+1: 443 likes

Weeks in review

During the last weeks, the main protocol improvements have been introduced by IIP-7, with many new features that improve APYs and optimize the experience for our users and token holders. Quantstamp audited this last update, and it’s been voted on-chain by $IDLE token holders.

The IIP consists of two on-chain proposals:

  • The first part enabled $stkAAVE farming on Best-Yield strategies (excluding $WETH pool), re-enabled $COMP rewards for $WBTC strategy, implement flash loans, and improve the gas expenditures for interacting with the protocol. The Governance executed the proposal about one week ago.

  • The second part would complete stkAAVE activation, upgrade all Best-Yield strategies with another gas-saving improvement, and transfer the allocated budget to the Leagues. It started the on-chain journey and got recently queued.

Additionally, the last two weeks saw the formation and election of Idle Dev & Treasury Leagues, with a new 3-month mandate. That’s a giant step ahead to a fully functional Leagues structure, with now a technical team dedicated to the improvement of the protocol and strategies, while a treasury committee would be devoted to governance forum activities, community engagement, and

@Salome and @emixprime have been confirmed as full-time Treasury League PMs, and together with Idle Labs, @ETM612, and @RTP2016 (elected as Supervisors) will represent the Treasury League team. Dev League is composed of @8bitporkchop and @gggggg, with Idle Labs as Supervisor.

The Leagues co-sponsored the B.protocol grant, which is part of the Gitcoin OpenDefi hackathon, with a $2k prize. And recently launched an open discussion phase with the community regarding the roadmap update

Other discussed ideas are:

Next Steps

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

  • The Integrations Standard Requirements introduces a framework to evaluate new market opportunities, defining the set of requirements needed to integrate downstream yield providers into Idle protocol. The Governance is now collecting community consensus about it via a snapshot poll.

  • The replies under the roadmap post denote a clear trajectory for the next months. Our community intends to move forward with some initiatives like tranches development, L2 solutions, $IDLE as collateral, and many other ideas. Which initiatives should be prioritized? Add new proposals to the backlog and report your opinion on the next steps!

  • The insurance discussion hosted many new insights, with meaningful contributions from insurance providers and community members. Different options are still on the table, with the consensus on protocol’s needs not achieved yet. Drop your feedback below the post to signal your preference.

  • The Treasury and Dev Leagues are now researching and analyzing contracts for $IDLE staking. We are planning to release a governance post within this week, and once our community signals positive feedback around the model we’d be ready to start the implementation phase.

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