πŸ“… IdleGov Biweekly Update – 07/12/21 [BW16]

Key Metrics

  • Asset Under Management ($): 234M (+5%)
  • Governance Token Holders: 3,011 (-2%)

Forum Highlights

  • :incoming_envelope: 1 topic created
  • :bulb: 0 Temperature Check
  • :busts_in_silhouette: 3 new members
  • :desktop_computer: 4,500 pageviews
  • :+1: 35 likes

Weeks in review

The best way to predict the future is to create it.

We had some captivating updates and releases in the last couple weeks. First of all, $IDLE staking. In just few hours, $IDLE stakers deposited almost 300k tokens. During the first fee-sharing event, about 60k stkIDLE received 1094 $IDLE. At the time of writing, there are about 420k $IDLE deposited in the staking contract, corresponding to 129k stkIDLE. The average locking time is 14 months. The FeeController already processed a new fee-sharing tx worth 1480 $IDLE and current stakers can redeem it on Thursday.

Idle Leagues, together with the Nexus Mutual team, completed the deployment of the idleDAI and idleUSDT coverage pools. This brand new service allows Idle LPs to get full stack coverage on Idle yield strategies. $NXM stakers already deployed 4m DAI!

Idle League engages with the Bancor community to whitelist $IDLE on its AMM. The proposal received astonishing support, with 11m $BNT voting in favor of the listing. The initiative comes with a 200k $BNT pool deployment from Bancor to enable single-sided exposure and IL protection.

On the hackathon side, ETHGlobal Hackmoney2021 is over and 5 projects used Idle as a core component of the yield generation. The focus is now on DeFiSummer hackathon, with members of the Dev League hosting a tech Q&A session to foster ideas and educate participants in the next few days.

Next Steps

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

  • $IDLE as collateral. Rari Capital community approved the proposal to list $IDLE as collateral on Fuse protocol. Together with the Rari team, Leagues are working on setting the TWAP feeds to proceed with the pool launch.

  • C&M League contest. Community & Marketing League plans to launch the first initiative in the next few days. Details of a Meme competition are almost ready, and the team will launch the challenge with an official announcement. Keep posted on our social media and follow the forum!

  • Community Resources. Leagues are collecting community resources to improve the Gitbook with a one-page list. The material includes videos, interviews, podcasts, and presentations. If you have any additional elements you would like to see in that page, drop a comment below or write it in Discord!

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