This IIP would enable $IDLE liquidity mining on idleRAI pool, make accrued $RAI available for FeeCollector management, remove Cream from idleRAI, and execute the transactions to fund the Leagues’ next mandate.
The idleRAI pool was released in Beta stage in late May, with Fuse and Cream support. Afterward, with RAI approved and available on Aave, this yield source became part of idleRAI as well.
In mid July, idleRAI passed the Integration Standard Requirements and got approved for Production stage. Governance unanimously approved the extension of the $IDLE LM program to idleRAI via Temperature Check.
The second batch of transactions is related to Leagues’ next mandate funding. Governance approved via Temperature Check to allocate $104’300 + 16’183 IDLE to fund operations, scaling activities, and compensations.
An additional $4k is required to cover ETHglobal hackathon prizes, not executed during the previous mandate.
The unique recipient of the current approved budget will be Treasury League Multisig. The committee will then send $20k in stablecoins to C&M League multisig to kick off their operations.
Here below the financial reports (source):
The technical implementation is reported in this Github link and was developed by Dev League.
Treasury League wallet: 0xfb3bd022d5dacf95ee28a6b07825d4ff9c5b3814
- idleRAI liquidity mining activation: 3 actions
- $RAI support on FeeCollector: 1 action
- Cream removal from idleRAI: 1 action
- stkAAVE support on idleRAI: 1 action
- ETH transfer from FeeTreasury to Treasury League: 1 action
- COMP transfer from FeeTreasury to Treasury League: 1 action
- stkAAVE transfer from FeeCollector to Treasury League: 1 action
- $IDLE transfer from Ecosystem Fund to Treasury League: 1 action
We are going to leave this thread open for comments regarding these changes, and in about 48hrs, if there are no objections, we will proceed with the on-chain proposal and the voting phase.
The stkAAVE distribution on idleRAI must be activated by Aave before the execution of this proposal, so we might delay a few days the on-chain phase if they are not ready yet.