[IIP-36] - Update Best Yield USDC, WETH yield sources and pause the staking rewards for IDLE stakers


Treasury League and Development League


The IIP aims to update the USDC and WETH Senior Best Yield’s underlying markets by adding Clearpool’s Fasanara (USDC) Yield Tranches and removing the Euler (WETH) Yield Tranches. It also includes the pause of the staking reward program for stkIDLE holders as part of the recent discussion about IDLE staking.



1. Update Best Yield WETH yield source

This action will complete the process of removal of the Euler Yield Tranches as the underlying markets for the DAI, USDC, USDT and WETH vaults.

Together with the on-chain changes, we will also remove the strategies from the Idle’s dApp. Depositors have successfully completed their redeems. The agEUR still deposited were burnt by Angle Money.

From a security perspective, it’s worth mentioning that up-today the WETH Best Yield vault couldn’t anyway deposit funds in the Euler underlying market, being all the Euler’s strategies deactivated.

2. Clearpool YTs as a new yield source for USDC BY - Fasanara

This proposal aims to add new Clearpool Yield Tranches to the Senior Best Yield vaults on USDC:

The Fasanara Yield Tranches will join Aave, Compound and Portofino YTs as underlying markets for the USDC pool.

3. Pause the staking reward program for stkIDLE holders

Multiple proposals are being discussed on how to revamp the IDLE staking use cases. One of them has already been voted and can continue the on-chain voting process:

  • Pause the staking reward program for stkIDLE holders


The code for the IIP-36 can be found on GitHub here and consists of nine actions.

IIP-36 actions:

  • 1 action to remove Euler Yield Tranches from the Senior WETH Best Yield strategy
  • 1 action to add Clearpool (Fasanara) Yield Tranches to the Senior USDC Best Yield strategy
  • 4 actions to change the fees recipient addresses of the Senior BY strategies to the feeTreasury
  • 3 actions to transfer the DAI, USDC and USDT fees from the feeCollector to the feeTreasury

Where the Clearpool wrapper contract address is:

  • Clearpool Fasanara USDC YTs 0x3E9A5c91eC8b5022E88d1C2599fE3CD98406D898

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.

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On-chain Voting Phase

:writing_hand: Cast your on-chain $IDLE vote here: HERE
:spiral_calendar: End date: 2023-06-18T01:00:00Z

:writing_hand: $IDLE stakers (stkIDLE holders) can vote here: HERE
:spiral_calendar: End date: 2023-06-17T16:00:00Z

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

  • 20% of circulating stkIDLE voting the poll (min. ~135k 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.

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Voting results and IIP queuing

IIP-36 passed with 1.35m IDLE votes in favour and has already been queued :hourglass_flowing_sand:
It will be executed in the coming days.


IIP-36 executed Ethereum Transaction Hash (Txhash) Details | Etherscan