Pre-snapshot treasury operations and liquidity management

Summary

A proposal to approve an IDLE buyback operation before the incoming snapshot.

Proposal

This proposal aims to approve Leagues to complete an IDLE buyback operation with the DAO’s treasury funds

Specifically, the Treasury League will withdraw funds from AMM pools and conduct a buyback operation to ensure smoother execution of the migration strategy.

Implementation

  1. AMM funds withdrawal: The TL multisig will remove all funds currently held in Automated Market Maker (AMM) pools on Friday, at a random time. This approach mitigates potential market manipulation risks while securing the necessary liquidity for subsequent operations.

  2. Buyback operation: The liquidity retrieved from the AMM pools will be utilized to execute a buyback operation before 2025-01-17T23:59:00Z. The buyback aims to bolster the protocol’s inventory and treasury reserves, aligning with the objectives of the upcoming migration and enhancing the protocol’s financial robustness.

Next steps

We encourage the community to provide feedback and suggestions to ensure this plan aligns with the Idle DAO’s and its tokenholders’ best interests.

We are going to open the temperature check soon to ensure the treasury activity is voted on before the incoming snapshot.

A detailed summary of the actions carried out will be published for transparency after the snapshot date.

1 Like

Temperature check voting

The voting phase to approve an IDLE buyback operation before the incoming snapshot starts now :ballot_box:

  • For - Agree with the IDLE buyback operation outlined
  • Against - Disagree with the IDLE buyback operation outlined
  • Discuss more - Discuss more the IDLE buyback operation outlined

:arrow_right: Poll for $IDLE holders: HERE
:arrow_right: Poll for $IDLE stakers: HERE

:alarm_clock: Polls will close on 2025-01-17T11:00:00Z

The final $IDLE voting weights will be calculated using the approved calculator.

Looking to delegate your vote on Snapshot? Follow the official Snapshot guide.

Let your vote count! :writing_hand:

1 Like

Temperature check results

Temperature Check passed :white_check_mark:

The pre-snapshot treasury operations and liquidity management proposal has been approved.

Voting option Votes Distribution
For 1,278,921* 100%
Against 0 0
Discuss more 0 0

*310,221 from stkIDLE