πŸ“… IdleGov Biweekly Update – 05/31/21 [BW13]

Key Metrics

  • Asset Under Management ($): 194M (-24%)
  • Governance Token Holders: 3,088 (-2%)

Forum Highlights

  • :incoming_envelope: 4 topics created
  • :bulb: 2 Temperature Check
  • :busts_in_silhouette: 15 new members
  • :desktop_computer: 8,300 pageviews
  • :+1: 258 likes

Weeks in review

Plenty of moving (lego) pieces in the last couple of weeks.

Firstly, CREAM protocol integration: the discussion moved ahead and reached the Temperature Check phase. With unanimous approval, the snapshot poll confirmed the Governance decision to integrate this yield source.

The Integration Standard Requirements collected community votes, and with 100% in favor, the proposal passed the check and became part of the Leagues Data Room for the due diligence integration process.

The most trending topic of the last weeks was $IDLE staking. After collecting feedback from previous posts and comments from our community, the Dev and Treasury Leagues proposed the Curves’ time-weighted staking model. This would allow Idle to use a battle-tested staking framework for implementing the fee-sharing component, reserving more features (LM rewards and voting power boosts) for a second phase.

The Treasury League introduced a staking simulator to help community members interact with parameters and generate different scenarios.

During last week, the Treasury League had a conference call with the ICHI team and reported the main takeaways to our community. The team suggested finding more use cases for a oneIDLE stablecoin, in order to bootstrap the pool with the initial $100k investment (required to activate the ICHI farming).

Other discussed ideas are:

Next Steps

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

  • Communications & Marketing Pilot League is looking for feedback. This proposal started a brainstorming session on the feasibility of the initiative and key parameters, such budget, mandate duration, committee composition. Drop your opinion for this initiative!

  • IdleRAI pool received bootstrap incentives from its DAO, bringing the pool TVL up to $1.4m. The Governance should evaluate if RAI, Cream, and Fuse would comply with the Integration Standard Requirements framework, before being moved into production phase.

  • $IDLE staking is moving ahead with a first snapshot poll to define the FeeCollector weights between smart treasury, fee treasury, rebalancer, and staking rewards. The Leagues proposed an allocation that would allow covering the rebalance expenses, keep the fee treasury sustainable and fees would still flow to the smart treasury. Cast your vote here!

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