The Idle Leagues and Polygon team worked together to design an ecosystem expansion program boosted by $650k in $MATIC rewards and $50k in IDLE tokens.
This proposal would generate mutual benefits such as creating a deeper relationship between the protocols and making Idle a core component of the Polygon landscape.
With the proliferation of yield sources (such as Cream, already integrated into Idle) on Polygon, yield automation and aggregation are becoming a unique value proposition to enable other projects to easily access different yield opportunities with just one integration effort.
Idle would represent a top-notch gateway to deploy funds and maximize returns, letting integrators focus on vault development, yield tokenization, fixed-yield products, and other on-top use cases.
Leagues already moved forward with the integration, deploying a beta release with DAI, USDC, and WETH Best-Yield strategies using Aave and Cream protocols. The strategies are already live and ready to be integrated.
Idle Leagues came into an agreement with the Polygon team in order to dedicate a $650k $MATIC incentivization program.
Treasury League multisig will receive and manage funds allocated to this program.
The program would share $MATIC rewards with any integration partner that implements Idle’s allocation strategies as part of their Polygon underlying infrastructure.
A Dune dashboard, similar to the one for B2B partners, would track referrals and reward distribution over time.
- Max incentivized TVL: $300m, first-come-first-serve
- APY boosting: +20% relative increment compared to APY provided by Idle strategies in Polygon, up to +1% net APY (e.g. 4% APY would become 4.8%; 8% APY would be translated into 9% final APY)
- Rules: incentives are issued weekly to partners in proportion to the deployed TVL
The program is designed to last not less than 3 months, with the expected incentivization phase lasting about 4-5 months. The max program duration is 6 months: Idle Governance would give back any unused funds to the Polygon team after that period.
If Idle protocol reaches $300m TVL via partners’ deposits during the program, the Polygon team will commit an additional $1.35m in $MATIC to extend the program for 6 months more.
This program includes a $50k commitment in $IDLE tokens from Idle Governance to foster the development of native Polygon projects using Idle and the finalization of new implementations. Those funds will be allocated to the Treasury League multisig during the 6 months in proportion to issued $MATIC, and used for grants and hackathons.
This post will be open for discussion for 3 days. If no material concerns would arise, the Leagues will launch the Temperature Check to approve this program.