M2-2022 Leagues & Coordinators Proposal

Authors

@Teo @william

Summary

This post outlines the Coordinators Proposal for M2-2022 (April-June) with @Teo and @william as Coordinators. Find below more about the proposed Leagues’ Roadmap, Structure, and Budget for it.

Leagues Roadmap

The Vision :sparkles:

To bring Idle into the mainstream and serve all businesses and institutional partners, we have to make the protocol more scalable, keep our high-security standard, and provide a sustainable way to integrate with our product suite.

Expanding the Idle DAO product suite and extending the yield sources for PYTs to strengthen its market fit is the primary objective for M2 2022. Our North Star metric will be the TVL in Idle DAO product suite (Best Yield, Perpetual Yield Tranches, and future products).

There is a significant margin for improvement regarding the TVL and we believe we can aim to see triple digits growth this year.

In addition, we will be using as KPI the fees generated by the Idle DAO product suite, as they indicate the sustainability of Idle DAO.

The Strategy :chess_pawn:

To do that, we want to focus on what the customer needs and wants to use. Our goal is to be the platform of choice for yield automation and optimization, both in terms of returns and risks.

The product suite will be tailored for:

  • Yield Integration Partners: like other DeFi protocols, wallets, and platforms that want to build compelling use-cases and monetize their models to maximize yields by serving their users’ risk-adjusted products with high-security standards. Idle’s partnership programs allow partners and developers to easily integrate yield into their own services. In an effort to make BY and PYT strategies accessible from virtually anywhere, any protocol that integrates our product suite can earn up to a 50% profit share from its contributed TVL. We are here to grow the DeFi ecosystem together.
  • DAOs, Institutional and Corporate Treasuries: All over the world there are trillions of dollars sitting in DAO, institutional and corporate treasures. These balances earn nothing. In some cases, they have to pay banks for the privilege of holding their cash. Treasury management is typically a conservative approach to capital management, due to the many responsibilities tied to this capital, as well as the need for a certain degree of predictability around it, if at least for budgetary allocation purposes. As such, we focus on PYTs’ risk-adjusted profiles as a solution to provide structured, reliable, and efficient capital growth, depending on their risk profile and allocation strategy.

Product Roadmap :factory:

Below is a list of high-level product initiatives we are prioritizing for this second mandate of 2022; as they progress, proposals will be made including all the details. These initiatives will be mainly developed by the Development League, and propagated and amplified with the community by the Treasury and Communication Leagues.

PYTs Collabs: AMMs Flywheel

Strengthening the AMMs flywheel for PYTs with integration partners by adding Uniswap, Sushiswap, Quickswap and Balancer as yield sources (both on Ethereum and Polygon). The AMMs flywheel is a powerful mechanism for DAOs or protocols that need to bootstrap liquidity for their markets without having to sacrifice their governance tokens to do so, but rather leveraging the Senior/Junior APY distribution.

Leveraged staked ETH derivatives PYTs

A series of PYTs based on derivatives of staked ETH with a folding strategy to leverage APYs. In sight of The Merge, this will allow investors to squeeze all the capital efficiency out of ETH staking while preserving their risk profile.

PYTs Factory: achieve the long tail of assets

Build a factory interface for PYTs, where anyone can create new opportunities, bootstrap financial products, and markets. This implementation would allow partners to create and bootstrap their own PYTs and include them in the IDLE Gauges with the whitelisting governance framework.

Best Yield 5.0: yield sources expansion

Expand the yield sources for our flagship Best Yield strategy; these can include new lending protocols such as Euler, or our own PYTs to bundle the yield generation and automation experience for the Idle ecosystem.

Best Yield and PYTs maintainance

Maintaining Best Yield and PYTs strategies, either in terms of continuous improvement of our security monitoring systems or harvesting operations.

Yield Automation Rebranding: a new face for Idle DAO

Release of the brand new landing page and dashboard, with a revamped visual identity, new robot mascots, and aesthetics, all oriented towards the concept of “DeFi Yield Automation Protocol”.

Organizational Roadmap :classical_building:

Below is a list of high-level organizational initiatives we are looking to work on during this second mandate of 2022; as they progress, proposals will be made including all the details. These initiatives will be mainly executed and maintained by the Treasury and Communication Leagues, with the help of the Development League where any technical input is needed.

Partnerships/Collaborations

  • Implement and improve the BizDev strategy with a focus on:
    • Integration with DeFi protocols, wallets, and dashboards
    • Collab with DAO and institutional treasury managers
  • BY and PYTs content creation (docs, articles, one-pagers, decks) and onboarding/feedback sessions with current and prospective partners

Communication and Growth

  • Prepare Idle DAO for summer DeFi conferences
  • Grow community engagement in Discord and Twitter
  • Grow presence in DeFi media outlets
  • Organize open talks with DeFi SME for topics concerning Idle DAO (eg legal structure for Idle DAO)
  • Maintain constant communications with our community in Twitter/Discord/Telegram regaring the updates from Leagues initiatives and DAO achievements
  • Prepare launch campaign, content, and design materials for the upcoming Yield Automation rebranding

Community Engagement

  • Maintain, support, and update IGPs and RFPs
  • Improve governance participation via meta-delegates (universities initiative)

$IDLE Tokenomics

  • Maintain and make IDLE markets more efficient in terms of slippage
  • Coordinate with lending protocols and leverage tools to implement IDLE as collateral
  • Collabs with current PYTs partners for Gauges voting and VEV
  • Convex/Backscratcher for IDLE Gauges

Organizational and Financial Management

  • HR League with a legal structure (collab with Kali DAO or similar) for payroll mgmt and 3rd party contracts
  • Additional research for UNA or similar legal structure for Idle DAO
  • Setup a common Leagues task mgmt dashboard (now it’s Trello + Notion)
  • Recurrent financial reporting in the forum regarding Idle DAO North Star and main KPIs

Leagues Structure

To achieve the aforementioned goals and roadmap, we propose the following Leagues Structure with 15 core contributors and advisors:

  • Communication League: 2 contributor.
  • Development League: 4 contributors.
  • Treasury League: 5 contributors.
  • HR League: 1 contributor (initially provided by Treasury League).

This structure can be changed throughout the mandate, within the budget scope, to allow new Leagues members to join if needed. Contributors will be announced after the vote take place and it’s successful.

Leagues Budget

The Leagues’ budget for Mandate 2 of 2022 (M2-2022), spanning from April to June 2022, sums up to ~$155k.

The budget will be used to pay for Leagues members’ contributions (Rewards) and to cover the operational costs of the three Idle Leagues (Operations).

The complete M2-2022 budget file is accessible at this link.


*Please note that the reported token amounts are subject to price fluctuations, hence their amounts could change at the time of funds transfer. The prices shown are quotes from April 06th, 2022.

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