๐Ÿ“… IdleGov Biweekly Update โ€“ 08/09/21 [BW18]

Key Metrics

  • Asset Under Management ($): 187M (-24%)
  • Governance Token Holders: 3,056 (+1%)

Forum Highlights

  • :incoming_envelope: 8 topic created
  • :bulb: 3 Temperature Check
  • :busts_in_silhouette: 4 new members
  • :desktop_computer: 5,800 pageviews
  • :+1: 195 likes

Weeks in review

No matter how brilliant your mind or strategy, if youโ€™re playing a solo game, youโ€™ll always lose out to a team. (or a League)

During past weeks, Leagues worked hard to shape and improve the working framework for the next mandate. Idle Leagues v2.0 โ€“ Leagues & Labs (Mandate #3) introduces an advanced organizational infrastructure to foster cross-Leagues cooperation, where Leagues members that collaborate on the same area form a Lab.

The proposal maintains unaltered compensation packages, with the only addition of using Opyn Vesting Options on the IDLE bonus part to further align team members and protocol goals.

Moreover, the proposal allocates $104โ€™300 + 16โ€™183 IDLE to fuel the operations of Treasury, Dev, and C&M Leagues for the next 3 months.

Governance voted via Snapshot polls to approve the proposed budget and Leagues-Labs structure (IDLE holders, stkIDLE holders). Additionally, IDLE token holders also voted and confirmed current teams (IDLE holders 2, stkIDLE holders).

Treasury League also released the Idle Leagues Mandate #2 Report (May-August 2021), which recaps achievements, insights, and aspects that we could improve in the future.

Another topic discussed during last weeks was Voting Framework for stkIDLE Holders. With the launch of $IDLE staking, stakers have no more access to voting features. Thanks to this proposal, stakers can now cast their vote on both off-chain and on-chain IIPs.

With significant community participation ($IDLE holders, $stkIDLE holders), the Governance approved the following threshold to make the on-chain vote valid: โ€œ30% of circulating stkIDLE voting the poll + at least 70% on the same optionโ€.

For off-chain polls, the $stkIDLE votes will be weighted in $IDLE and added to the $IDLE votes cast via snapshot. Future off-chain or on-chain proposals would comply with this framework.

Lastly, the Governance approved Aave v1 deprecation. The next IIP will include the actions to execute the initiative.

Other discussed ideas are:

Next Steps

Hereโ€™re the next steps for the most promising initiatives:

  • $IDLE farming on RAI pool. Leagues launched a signaling poll to gauge community sentiment on this LM extension. If approved, an on-chain proposal would execute the change.

  • Leaguesโ€™ mandates and application phase. With the confirmation of current members, Leagues can open up the application window for unfilled positions and officially kick off the new mandate. Expect to see the Treasury, Dev, and C&M open roles these days, with about a week spent to collect candidatesโ€™ interest. Then, Governance will select which members will fit the roles via Temperature Checks.