๐Ÿ“… IdleGov Biweekly Update โ€“ 12/13/2020 [BW1]

Thrilling first two weeks! We are glad to see such community involvement in this Forum, lots of ideas have been showcased and the portal even hosted some Temperature Checks!

This bi-weekly article aims to recap some key metrics of the Forum and summarize what has been discussed in the past days.

Key Metrics

  • Asset Under Management ($): 127M :rocket:
  • Governance Token Holders: 1โ€™577

Forum Highlights

  • :incoming_envelope: 23 topics created
  • :bulb: 4 Temperature Check
  • :busts_in_silhouette: 52 new members
  • :globe_with_meridians: 13,000 pageviews
  • :+1: 309 likes

Week in review

The community is now exploring the Smart Treasury, a Balancer pool that works as an automated market maker, and some possible allocations. Four polls already defined the votersโ€™ sentiment and we can expect that further polls will drive the idea to become a structured Proposal.

This a quick overlook from Smart Treasury inception to specsโ€™ definition:

  1. IDLE Launch - Now the hard work begins
  2. Establish a Smart Treasury
  3. Provide quotes/budget for Smart Treasury development

Other topics discussed in the forum and waiting for feedback are:

Next Steps

As reported in the Improving the Proposalsโ€™ Process post, a Proposal that doesnโ€™t come with executable code enters into the โ€œTeam Formationโ€ phase, where developers can post their candidature for the grant, specifying the economic request and the required time to deliver the code.

To help the community in launching such grants, we then released How to Structure Grants, a template to collect applications from contributors interested in coding proposed implementations.

Next step for the Smart Treasury proposal would be to accept applications from communityโ€™ developers (3+ days, until 21th Dec in this case) and then have a Snapshot poll to vote on participants.

Once code is being developed and tested, the Proposal can land on-chain and enter the Voting Phase, where the Governance expresses a FOR or AGAINST vote to implement it (2 days voting + 3 days grace period).

Help us spread this [GRANT] Smart Treasury and reach out as many community developers as possible! :cyclone: