Thanks everyone for the contribution here on the roadmap re-prioritization. I would like to share the view of Idle Labs team (@Teo, @william, @samster91, @Davide, @gravityblast).
We’re glad to see that our community is in line on different topics in backlog, and the trajectory for some initiatives seems pretty clear. Bearing in mind that we have some ongoing initiative that will still require attention (particularly B2B program) from both Leagues and community, our take on the roadmap backlog prioritization is:
L2s/sidechains (firstly Polygon, later there are different solutions like Optimism/ZK-synch/starkware/…)
- Wyoming DAO LLC analysis and set up
- New assets & protocols
- $IDLE as collateral
(Bonus point: Governance accessibility)
Tranches would allow fragmentation of the risks and provide a tailored solution according to users’ needs. Even if the Risk-adjusted strategy uses highly secure protocols, pool losses would be equally split across LPs. With senior tranches, we can be a step nearer to have an institutional-grade offering, and junior tranches would better suit the native crypto audience (higher APYs and higher risks).
Gas optimization could benefit from tranches too, as the product can be re-designed from the ground. This would avoid duplicating the efforts, automating many operations (eg selling gov tokens), and reduce the impact of gas cost. Yet, it is still a problem and will potentially increase with ETH price if we look at the $ value. All solutions on L1 (including batched redeems and batched gov tokens auto-compound) would optimize gas, but it’s a temporary solution. That’s why L2s solutions would need to be prioritized, as they could be a solid solution to dampen this barrier for retail users.
Furthermore, tranches would enable to automatically reinvest governance tokens, and could be considered as a coverage product, adding a new layer of security for senior tranches investors.
The second initiative that would be worth moving forward is L2s/sidechains and, at this time, Polygon. The protocol hosts leading and battle-tested lending protocols, setting the conditions for having a yield-generating infrastructure that complies with the Idle standard. The benefits for retail users are clear, and the protocol would benefit as one of the first yield aggregators that operate on that layer.
In our long-term vision, L1 might work as the onboarding layer for integrators, while retail users would find a comfortable solution in L2.
Additionally, Idle is surfing the wave of governance innovations with cutting-edge infrastructures like the Leagues system. TradFi and DeFi still have a gap to fill, and a Wyoming DAO LLC might be the bridge to allow protocols to interact with traditional companies. We would be amped to keep moving forward with this initiative, and there are still many considerations that need to be analyzed, as the partnership with a DAO would eventually lead to tax implications for its token holders.
New assets & protocols are a core aspect of the Idle vision. The ecosystem is expanding fast, with downstream lenders improving the APY and new assets that could increase our TVL. As a rebalancing protocol, Idle should be agile in integrating yield generators that meet the standard requirements.
$IDLE as collateral would create a new token use case, unlocking a new liquidity source that could be implied in different ways. This initiative would enrich the suite of token applications, enabling the Governance and Leagues to evaluate different treasury management operations.
Governance plays a crucial role in setting up the direction of the protocol, and Governance accessibility would help increase participation rate and ease the ownership experience for our token holders. Scattershot could be an initial improvement to allow granular voting for multi-options polls, and other governance tools could be evaluated and tested along the way. Moreover, the improvements reported here could ease voting costs thus increasing community engagement for governance purposes.
(We are already researching most of the above concepts. We currently are in the process of analyzing the technical feasibility and implementation of these initiatives)
Of course, the roadmap is an iterative process, and the market structure rapidly changes. Priorities might vary according to the community’s needs and the evolution of the DeFi ecosystem.
We can’t wait to help our community and Governance to improve and steer the protocol across its growth for the foreseeable future.