[IIP-6] - LP staking fund transfer + Treasury transfer for protocol operations

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funds, so the need is to transfer 180,000 $IDLE from Ecosystem Fund to the Pilot League Multisig Wallet, and 5 ETH withdrawn from FeeTreasury to the Pilot League Multisig Wallet.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.

The Journey


:writing_hand: Time to cast your vote!

:arrow_right: IIP-6 Link

:date: Ending on April 17th

Quorum for approval: 520,000 $IDLE

How to vote


Congrats to everyone! The proposal has been approved and queued :fireworks: :tada:

After the queueing period, the IIP can be executed :rocket:


How are we looking to get LP staking live?

Must be sooooooon? :heart:

@Salome @emixprime


Some updates will be posted soon… @8bitporkchop :sunglasses:


Hello everyone,

As an update of the LP staking progress here is where we are at so far.

  • Contract Code Written :white_check_mark: (Complete)
  • Staking UI :white_check_mark: (Complete)
  • Review & Testing :yellow_square: (In progress)

We anticipate staking to be live by Monday (26th April).

Because the community overwhelmingly voted to allocate sushi rewards to the protocol, an intermediary contract was written by @william and myself to tokenise/wrap Sushi Swap LP tokens which are staked in the Sushi Swap Masterchef contract. The tokenised LP staked in MasterChef is used for compatibility with the token geyser. The new tokeniser contract will not require you to transmit additional transactions thanks to the permit pattern which is supported by SushiSwap LP tokens (You will however be asked to sign a message). This means you won’t have to spend additional gas on approval transactions :smiley: . The contract code can be found here.

The end-end flow is for staking is:
Sushi LP Token (LP) → LP token staked in MasterChef, wrapped LP (wLP) token minted → wLP token is staked in geyser.

The end-end flow for unstaking is:
wLP token unstaked from geyser → IDLE rewards sent to user → wLP token burned, LP token unstaked from MasterChef and sent to user.

** NOTE: this process will be automated from the UI, so as a user you won’t have to worry about this detail.

Staking UI

As a preview of what the new staking UI looks like here (Thanks to @samster91).
Staking Home Page



Any other update and I shall post here :slight_smile:


Wow looks fantastic @8bitporkchop, @samster91 and @william
Can’t wait to see the LP staking live :muscle::relaxed::heart:


Great job team! Looking forward to this going live!


I like that LP Staking token is a drop-down list :wink:


LP staking is now live. Check it out here!

Geyser: TokenGeyser | 0xcc0b9f7ed0e6bc7c2e69dbd247e8420f29aeb48d

Thanks to @8bitporkchop for the deployment


Hi all,

It’s been a long road, but this shows that decentralised governance works! Glad to have contributed to this program!

This is the table of my expenses for deploying and testing this IIP

Action Contract Link Tx Fee [ETH]
Deploy Tokeniser Tokenizer tx 0.1376413
Deploy Geyser Geyser tx 0.31760999
Set Geyser for Tokeniser Tokenizer tx 0.00272096
Transfer Tokeniser to Multisig Tokenizer tx 0.00146926
Transfer Geyser to Multisig Geyser tx 0.00146814
Test Wrap and Stake Geyser tx 0.02516613
Test Unstake and Unwrap Geyser tx 0.0168639

Total: 0.50293967 ETH

:slight_smile: :rocket:


The pilot league has agreed to give a compensation bounty of 150 $IDLE (tx) to 8bitporkchop for his commitment to working on:

  • Geyser V1, including research and deployment implementation;
  • Ampleforth Geyser, including research implementation, testing, and deployment.

Thank you again to everyone who has made this happen :raised_hands: :rocket: