Biaf
July 6, 2023, 3:03pm
1
Treasury League and Development League
The IIP formalizes the tokens transfer between Idle DAO and Fasaanara Digital as part of the strategic diversification plan. It also includes the funding of the Leagues’ budget for M3-2023.
This proposal specifically formalizes the strategic agreement between Idle DAO and Fasanara Digital
As one of the first institutional borrowers onboarding into YTs, Fasanara Digital is amped to enter into Idle DAO’s ecosystem to benefit from YT’s risk-diversified liquidity layer and participate in its improvement process, while entering in an agreement that would allow optimizing the capital efficiency of their own YTs.
The agreement will be subject to the following conditions:
Fasanara allocating 150,000 USDC (or other stablecoins) to Idle DAO’s Fee Treasury.
Idle DAO allocating 150,000 IDLE from the Idle DAO’s Ecosystem Fund to Fasanara.
Idle DAO and Fasanara entering into a fee-sharing agreement for any fee generated by any Senior or Junior Yield Tranches based on Fasanara borrowing pools, up to the amount allocated by Fasanara in Idle DAO’s Fee Treasury
The first point has already been fulfilled by Fasanara (reference Tx ). The second point will be fulfilled by the Treasury League by sending 150,000 IDLE to the Fasanara vesting contract after the completion of this IIP.
The IDLE budget for M3-2023 has been adjusted. The full overview is available here .
The expected budget for M3-2023 is $180,308 in stablecoin and 187,791 IDLE (using a 20-day rolling price at the time of writing).
The Treasury League multisig stablecoin holdings currently stand at $30,308 and 4’300 IDLE hence $150,000 will be transferred from the Idle DAO Fee Treasury , and 183,491 IDLE will be transferred from the Ecosystem Fund .
The code for the IIP-37 can be found on GitHub here and consists of two actions.
IIP-37 actions:
IDLE tokens taken from Ecosystem Fund will be subject to a 2-year vesting period, with a 6 months cliff and an 18-month block-by-block linear vesting.
This agreement can be extended in the future if Yield Tranches based on Fasanara borrowing pools will gain further traction during the next months, and the allocated amount can grow up to 400,000 USDC.
If the proposal is positively voted by the Idle DAO, the Treasury and Dev League will set up the required contracts, set up the transfer via the next IIP, and monitor and execute the fee-sharing agreement.
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.
4 Likes
Biaf
July 6, 2023, 3:34pm
2
HERE 2023-07-09T01:00:00Z
HERE 2023-07-08T19:00:00Z
The threshold to make the off-chain poll valid (both metrics should be reached):
20% of circulating stkIDLE voting the poll (min. ~131k 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
2 Likes
Biaf
July 11, 2023, 8:49am
3
IIP-37 passed with 550k IDLE votes in favour
It has already been queued and executed
Ethereum (ETH) detailed transaction info for txhash 0x335dc380a30dad9315065470fc0f137a7463cb7b2254ef3d76494f14ce0f6ff5. The transaction status, block confirmation, gas fee, Ether (ETH), and token transfer are shown.
2 Likes
Cast your on-chain $IDLE vote here: 
End date: 
