[IIP-32] Euler staking DAI PYTs as a new yield source for BY


Treasury League and Development League


This proposal focuses on one initiative

  • Euler staking PYTs as new yield sources for BY


Euler staking DAI PYTs as a new yield source for BY

For a comprehensive analysis of the initiatives and a background on Euler, we suggest visiting the related governance post.

The DAO already voted to upgrade the yield sources of the USDC, USDT and WETH Best Yield vaults (implemented through [IIP-31]). The temperature checks to add the Euler staking DAI PYTs market have also been positive.

Similar to previous integrations into BY, the Euler staking DAI one will benefit doubly the Idle ecosystem

  1. Increase BY’s returns for the DAI vault.
  2. Add a stable source of funding to the Euler staking Senior tranches and consequently incentivize the onboarding of new Junior liquidity.

We will then add the Senior tranches of Euler staking DAI PYTs as new yield sources for the idleDAI Best Yield vaults.


The code for the IIP-32 can be found on GitHub here and consists of 1 action.

IIP-32 actions:

  • 1 action to add the Euler staking wrapper to the idleDAI BY vault.

Where the Euler staking (Senior) PYTs wrapper address is:

  • Euler staking DAI AA PYTs 0xC9C83bEBd31aff93a2353920F2513D372847A517

Next Step

The temperature checks for the above proposals have already been successfully closed. We are going to open the on-chain voting phase right after the publication of this Idle improvement proposal.


On-chain Voting Phase

:writing_hand: Cast your on-chain $IDLE vote here: HERE
:spiral_calendar: End date: 2023-02-19T01:40:00Z

:writing_hand: $IDLE stakers (stkIDLE holders) can vote here: HERE
:spiral_calendar: End date: 2023-02-18T19:00:00Z

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

  • 20% of circulating stkIDLE voting the poll (min. ~140k 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 participate in this voting round.


Voting results and IIP queuing

IIP-32 passed with 1,246,236 $IDLE votes in favour and has already queued for execution :hourglass_flowing_sand: