[IIP-42] Timelock admin update and M1-2025 budget transfer to Leagues

🗂 Proposals ⛓ IIPs
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Summary

The IIP aims to change the Governance Timelock admin temporarily to the Treasury Leagues multisig and transfer the M1-2025 budget to Leagues.

References

Rationale

1. Update Governance Timelock Admin

The DAO agreed to transfer the Governance Timelock admin to the Treasury League multisig before the forthcoming IDLE snapshot to mitigate the risk of governance attack

2. Leagues M1-2025: Roadmap and M4-2024 Recap

This IIP will also be used to transfer the M1-2025 budget to Leagues.

Specifications

The code of the IIP-42 can be found on GitHub here and consists of 9 actions.

IIP-42 actions:

  • 1 action to set pendingAdmin of Timelock to TL multisig so all DAO contracts can be managed temporarily with that multisig (a delay of 2 days for each action will still be in place)
  • 1 action to transfer $138,000 equivalent in stablecoin from the Fee Treasury to the Treasury multisig wallet
  • 7 actions to get various tokens from an old FeeCollector contract for a total of ~$800 in DAI, COMP, USDC, SUSD, WBTC, RAI, TUSD

Next steps

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

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:arrow_right: Poll for $IDLE holders ending 2025-01-13T02:30:00Z: HERE
:arrow_right: Poll for $IDLE stakers ending 2025-01-12T21:00:00Z: HERE

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

  • 20% of circulating stkIDLE voting the poll (min. ~53k 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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IIP-42 passed with 1.63m IDLE votes in favor

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