πŸ“… IdleGov Biweekly Update – 06/14/21 [BW14]

Key Metrics

  • Asset Under Management ($): 262M (+35%) :tada:
  • Governance Token Holders: 3,067 (-1%)

Forum Highlights

  • :incoming_envelope: 6 topics created
  • :bulb: 4 Temperature Check
  • :busts_in_silhouette: 4 new members
  • :desktop_computer: 9,300 pageviews
  • :+1: 337 likes

Weeks in review

Tough times never last, but tough people do.

This biweekly recap starts with $IDLE staking. The following post claimed the community’s attention on the asset used to reward $IDLE stakers. The poll listed five options (IDLE, stkIDLE, wETH, idleDAI, LP token) and this table compared benefits and drawback of each choice. Scattershot, a fork of Snapshot, hosted the poll, providing better flexibility thanks to the voting split.

The winning option is $IDLE, and the final proposal will embed this change.

$IDLE Treasury Diversification through Strategic Partners presented a diversification of a portion of the $IDLE held by the Governance into stablecoins. $IDLE represents 99% of the treasury composition, and this proposal would move the $IDLE reserves to 80-90% share. In addition, the initiative introduces many benefits, including capital efficiency, long-term sustainability, and risk mitigation.

Coverage on Idle pool tokens: the temperature check has passed, and the Governance approved the launch of a $100k shield mining campaign on Nexus Mutual. This program aims to lower the premium on idleDAI and idleUSDC, adding a full-spectrum coverage on dependences for these two strategies, creating a first built-in insured strategy for the Idle Protocol.

The community launched the Communications & Marketing Pilot League to foster community engagement and add a puzzle piece to the League ecosystem. The poll approved the Pilot committee.

Next Steps

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

  • IIP-9 defines the design of the Shield Mining campaign and proposes the transfer of 15,000 $IDLE to fund the program. This thread is open for comments for the next 24 hours, and the on-chain proposal will follow after.

  • $IDLE Treasury Diversification through Strategic Partners will move to the Temperature Check phase. The poll will gauge the community sentiment about this initiative, and the next step will involve the Leagues in reaching out to prospective strategic partners.

  • Leagues are working on Polygon deployment and $IDLE staking. We expect to see other polls on specific deals or parameter definitions. Stay tuned to say your word on shaping the future of those initiatives!

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