[IIP-11] - Deprecate Aave v1

Idle Leagues

This IIP executes Aave v1 deprecation and transfers 4’105.7 $IDLE to Leagues multisig as reimbursement for B2B affiliation program payout, allowing the committee to finalize past mandate’s operations.

In February, Idle Governance discussed Aave v2 wrapper integration and implemented it in idleDAI, idleUSDC, idleUSDT, idleSUSD, idleTUSD, idleWBTC, and idleWETH Best-Yield pools via IIP-5.

Idle protocol is currently supporting both Aave v1 and v2, but it has not allocated funds on v1 for weeks due to a lack of incentives. This is favorable timing to execute the old version’s dismission because the pool no longer represents an underlying lending source.

This forum post illustrates the rationale behind Aave v1 deprecation, and the Governance voted via Snapshot to approve this change.

This IIP consists of 9 actions, 6 used for Best-Yield pools and 3 for Risk-Adjusted ones, and the 10th slot transfers 4’105.7 $IDLE to Leagues multisig.

As reported in Treasury League – Budget Extension, this amount would refund Leagues for the B2B affiliation program payout, not included in the previous Leagues’ budget but directly executed by the committee for the sake of simplicity. In this way, Leagues can complete the payout for expenses related to the past mandate.

The technical implementation is reported in the on-chain IIP, developed by Dev League.

Treasury League wallet: 0xfb3bd022d5dacf95ee28a6b07825d4ff9c5b3814

This IIP would comply with the stkIDLE Voting Framework (requirements: 30% of circulating stkIDLE voting the poll + at least 70% on the same option).

The poll for stkIDLE holders will be launched together with the on-chain IIP and will last for 2 days. During the 3rd day, the community multisig will broadcast the stakers’ votes if the poll reaches the quorum.

Next Steps
Governance discussed and approved this initiative several times, so the IIP lands directly on-chain.

:ballot_box: On-chain vote: LINK
:spiral_calendar: End date: approx Aug 15th

:ballot_box: Off-chain stkIDLE holders poll: LINK
:spiral_calendar: End date: Aug 14th, 11am UTC


Both on-chain IIP and off-chain stkIDLE poll are live!

The post above includes the links to vote and deadlines.
The stkIDLE voting calculator has now a new section to monitor if stkIDLE polls reach the quorum.


The off-chain stkIDLE poll reached the quorum (more than 56’141 stkIDLE votes) with 70%+ in favor of the proposal, so the multisig broadcasted the “YES” vote :white_check_mark:

Globally, IIP-11 collected more than 750k IDLE votes, succeeded, and its execution completed the Aave migration!