[IIP-27] Clearpool PYTs as a new yield source for BY - Folkvang

🗂 Proposals ⛓ IIPs
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Authors

Treasury League and Development League

Summary

This proposal focus on one key initiative and minor updates:

Rationale

We suggest visiting the dedicated governance forum post linked below for a comprehensive analysis of the initiative.

Clearpool PYTs as a new yield source for BY - Folvang → Forum post

In the proposal discussion post, we also highlighted some key mechanisms implemented by Clearpool to incentivize the utilization rate of the pools and protect lenders in case of risk of borrower default.

Specifications

The code for the IIP-27 can be found on GitHub here.

IIP-27 actions:

  • Add Senior tranche of cpFOL-DAI PYT as a new yield source for idleDAI Best Yield strategy
  • Disable stkAAVE price feed from Best Yield oracle
  • Update block number calculation for COMP (since after the merge block time has changed to 12s per block)

Together with the above action, IIP-27 will set a new wrapper contract for the Clearpool Folkvang DAI pool: 0x67e78ED1cC4732816816A62F2e99CDC5CfaAc06E

Next Step

We will open the on-chain voting phase shortly after the publication of this IIP.

Given the last events affecting the crypto space, we would like to reiterate that a positive vote regarding this integration won’t lead to an immediate BY deployment in Folkvang’s pool.

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On-chain Voting Phase

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:writing_hand: Cast your on-chain $IDLE vote here: HERE
:spiral_calendar: End date: 2022-11-13T22:30:00Z

:writing_hand: $IDLE stakers (stkIDLE holders) can vote here: HERE
:spiral_calendar: End date: 2022-11-13T12:00:00Z

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

  • 20% of circulating stkIDLE voting the poll (min. ~145659 stkIDLE)
  • at least 70% on the same option.

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

Make sure you have been delegated to take part in this voting round.

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Voted with recently staked IDLE and wallets funds, hope worked both.
Voting in dashboard goes slow, is that normal?
Dashboard loads slow.

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Hi, on the KARMA DASHBOARD you can easily see your score and activity by clicking your own wallet address.

The IDLE team is working hard on a new dashboard, so hopefully everything works way better soon.

You can always check better twice, cos yesterday i voted on snapshot, and now it was gone and needed to vote again :woozy_face: , normally no problems with snapshot.

@Biaf , was the poll there re-opened or any idea what could happened? Cos my first vote was right after the poll was opened.

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Unfortunately, the ending time of the 1st Snapshot pool was wrong (time zone issue) and we had to open a new one with the right deadline.

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@Biaf I delegate myself and voted with the idle in my wallet, i saw my amount as as legit after the vote. But later it was zero, now i am not sure if it counted?

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Reach us on Discord > General and share your wallet address. We will investigate the issue.

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@emixprime , you had some 0 point votes before, or is this story different?
Doesn’t look like @CryptoBag actually vote with nothing.

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@AllinCrypto I think this happened because he made the self-delegation after the IIP was created:

  • IIP-27 was launched (tx) on 2022-11-11T12:22:00Z

  • @CryptoBag created a self-delegation (tx) on 2022-11-11T22:48:00Z

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Ok clear!

Maybe something to mention on the vote page, that a vote won’t count if the (self) Delegation is created after a poll is launched. That’s te story right?

( @Teo @samster91 )

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That’s correct, one have to self delegate or delegate to someone before the on-chain vote. You just need to delegate once, no need to do it for each vote