Strategies revamp: unused assets wind down II

[Biaf]

Authors

Treasury League

Summary

This proposal focus on one key initiative:

• Remove part of the listed tokens from Idle Best Yield: RAI, SUSD, TUSD.

References

• Strategies Revamp: unused assets wind down

Rationale

Following the recent decision of the Aave’s community (see Aave’s AIP-121)

A proposal to make parameter changes on Aave V2 ETH. Given that the market situation of these assets is currently volatile, out of an abundance of caution, we recommend temporarily freezing the following markets:
[…]

• sUSD
• RAI

We plan to update accordingly the assets listed in the Idle Best Yield, i.e. remove sUSD and RAI.

In addition, we plan to delist TUSD token. These three assets have never reached a sufficient level of traction to justify the rebalance costs incurred by Idle DAO’s smart contracts.

This initiative aligns with the previous proposal to delist FEI and other PYTs tokens.

@Teo

Both BY and PYTs strategies require a good deal of ongoing bandwidth to ensure users have a quality experience. Idle Leagues have been monitoring the performances of the strategies (as reported in the M2-2022 performance report), and due to low-profit margins or other externalities (e.g. FEI dissolution) we decided to keep in the main dashboard only the strategies with the most traction and efficiency.

These four tokens won’t be anymore listed in the main UI under Best Yield, and deposits will no longer be available. Users will still be able to redeem their funds from either the beta version of our dashboard or by interacting with the contracts on Etherscan.

Next Step

This post will be open for discussion, and in about 48 hours, if there are no objections, we will proceed with the Temperature Check.

[Biaf]

Temperature check voting

The voting phase for the Best Yield strategies revamp starts now

• For - Agree with the assets delisting from the Best Yield strategy
• Against - Disagree with the assets delisting from the Best Yield strategy
• Discuss more - Discuss more the assets delisting from the Best Yield strategy

Poll for $IDLE holders: HERE
Poll for $IDLE stakers (stkIDLE holders): HERE

Polls will close on 2022-12-04T12:00:00Z

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!

[Biaf]

Temperature check results

Temperature Check passed

The delisting of sUSD, tUSD, RAI and FEI tokens from the Best Yield strategy will be paired together with other actions in the next IIP-29