Authors
Treasury League
Summary
This proposal focuses on one key initiative: remove Euler as a yield source of Senior and Junior Best Yield strategies on DAI.
References
Rationale
On March 13th, Euler suffered an exploit by a hacker stealing around $200m of funds deposited in the protocol. Euler was one of the underlying markets below Best Yield strategies and Yield Tranches. Part of funds deposited on Euler were then locked with users unable to withdraw their funds.
With the recent positive events leading to a full recovery of the stolen funds, we can start discussing the next steps of the strategies affected. This post is the first in a series to discuss how to adjust the yield sources of our strategies.
We will start from the DAI BY pools, which weren’t affected by the hack, thanks to the work of our Leagues. A similar discussion will be held for the USDC, USDT and WETH pools, but only when the locked funds will be redistributed.
Based on internal risk assessment, we suggest to remove Euler from the basket of yield sources of the strategy at least until a new audit check is run. This market could be added again to Best Yield after a re-assessment of the newly audited Euler protocol and via an Idle DAO vote.
Next Step
Leagues are working tirelessly to add new yield sources to Best Yield and soon we will present them to the DAO.
This post will be open for discussion, and in about 24 hours, if there are no objections, we will start the governance process with a temperature check leading to the next IIP.
Poll for $IDLE holders: 
Polls will close on 
