Pilot League Committee
Through the IIP-6, we can move funds from the Ecosystem Fund to Pilot League’s Multisig Wallet, ready to be distributed as LP staking rewards, and some ETH from FeeTreasury to Pilot League’s Multisig Wallet to handle various expenses and operational costs.
In defining LP staking parameters, the Pilot League has asked the community to express through a snapvote their preference about the rewards, with the reward funds coming from the Ecosystem Fund.
The poll results show that Governance approved a 1000 $IDLE/day issuing rate, which represents a program budget equal to 180,000 $IDLE.
Governance voted to use the Ampleforth geyser model for LP staking deployment, with $SUSHI rewards allocated for protocol’s growth.
Furthermore, the Pilot League has to manage operational costs, staking contract deployments, and reimbursements, thus there is a need for an ETH withdrawal from the FeeTreasury to handle these expenses.
The Pilot League will manage LP staking reward funds, so the need is to transfer 180,000 $IDLE from Ecosystem Fund to the Pilot League Multisig Wallet, and 5 ETH withdrawn from FeeTreasury to the Pilot League Multisig Wallet.
With the implementation of LP staking rewards, we expect a significant increase in liquidity in the SushiSwap IDLE/WETH pool which will allow for larger trades and less slippage.