[IIP-22] - stkIDLE Whitelisting Process Implementation

Authors

Treasury League and Dev League

Summary

This IIP appoints Treasury League as the actor managing the stkIDLE whitelisting via SmartWalletChecker to gradually start the decentralization of the process.

With its on-chain execution in about 5 days, Idle DAO will make the staking feature & Gauges boost accessible to multisig wallets and other DAOs, unlocking meta-governance mechanisms.

Rationale

stkIDLE Whitelisting Process Implementation → Forum post

The stkIDLE whitelisting process represents an onboarding barrier, potentially reducing the Idle DAO’s efforts in supporting the development of an open and composable ecosystem.
This proposal introduces the implementation of the SmartWalletChecker contract to manage the contracts interacting with the staking module.
This design would create an on-top whitelisting layer, with no core changes to the underlying governance infrastructure.
The Treasury League will temporarily process the whitelisting requests. This intermediary phase would reduce the frictions to onboard new smart contract-based liquidity providers.
The TL would accept all the requests unless there are clear proofs that a specific whitelisting would harm the protocol. In that case, the issue would be publicly discussed among the Idle Governance.
Note that SmartWalletChecker was initially named SmartWalletWhitelist.

Consequently, IIP-22 will:

  • Set SmartWalletChecker, whose ownership is managed by Treasury League multisig, as whitelisting layer on top of stkIDLE contract.

Specifications

The code related to this IIP is here.

The core related to SmartWalletChecker smart contract is available here.
Its address is 0x2D8b5b65c6464651403955aC6D71f9c0204169D3.

IIP-22 actions:

  • Set SmartWalletChecker as whitelisting layer on top of stkIDLE contract: 2 actions

On-chain Voting Phase

:writing_hand: Cast your on-chain $IDLE vote here: IIP-22
:spiral_calendar: End date: 2022-04-18T09:38:00Z

:writing_hand: $IDLE stakers (stkIDLE holders) can vote here: stkIDLE snapshot poll
:spiral_calendar: End date: 2022-04-17T13:00:00Z

The threshold to make the off-chain poll valid (both metrics should be reached):

  • 30% of circulating stkIDLE voting the poll (min. 153,213 stkIDLE)
  • at least 70% on the same option.

The stkIDLE voting calculator will be used to calculate the final results.

5 Likes

The off-chain snapshot for stkIDLE holders reached the quorum, and staked IDLE votes were broadcast during the on-chain voting phase!

As a result, IIP-22 raised more than 1 million votes, succeeded, and Idle DAO executed it :white_check_mark:

4 Likes