[IIP-14] Risk-Adjusted removal and Polygon LP staking funding

Authors
Idle Treasury Leagues

Summary
This proposal removes $IDLE LM from Risk-Adjusted DAI, USDC, USDT and transfers 35,000 $IDLE from Ecosystem Fund to Treasury League multisig. These activities will let Leagues move forward with UNI v3 liquidity deployment and Polygon LP staking program.

Rationale
The post “Risk-Adjusted Removal for Tranches Migration” introduced several reasons to deprecate Risk-Adjusted strategies and deactivate $IDLE liquidity mining on those pools, with Senior tranche representing the natural security-first product for risk-averse users.

The proposal passed the snapshot ($IDLE holders and $IDLE stakers) and now reaches the on-chain journey.

In parallel, Governance approved via Temperature Check ($IDLE holders and $IDLE stakers) the allocation of 15,000 $IDLE (amount rounded up to ensure to have at least $100k as overall liquidity) for UNI v3 pool and 20,000 $IDLE to fund Polygon LP staking program. The proposal has been discussed here.

Specifications
The technical implementation was developed by Dev League.

Treasury League wallet: 0xfb3bd022d5dacf95ee28a6b07825d4ff9c5b3814

Actions:

  • $IDLE LM removed from Risk-Adjusted DAI, USDC, USDT: 3 actions
  • 35k $IDLE transfer from Ecosystem Fund to Treasury League: 1 action

Voting Phase
:writing_hand: Cast your on-chain $IDLE vote here: IIP-14
:spiral_calendar: End date: Oct 10th, 8am UTC

:writing_hand: $IDLE stakers (stkIDLE holders) can vote here: stkIDLE snapshot poll
:spiral_calendar: End date: Oct 9th, 1pm UTC

Threshold to make the off-chain poll valid (both metrics should be reached): 30% of circulating stkIDLE voting the poll and at least 70% on the same option.

The stkIDLE voting calculator will calculate the final results.

3 Likes

The stkIDLE poll reached the threshold, and the multisig cast the “YES” vote :classical_building:

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IIP-14 status:
:white_check_mark: succeeded
:white_check_mark: queued
:white_check_mark: executed

Congrats Idle Governance for executing the proposal, removing $IDLE LM from Risk-Adjusted DAI, USDC, USDT and transferring 35,000 $IDLE from Ecosystem Fund to Treasury League multisig :tada:

4 Likes