Idle

The following is an extract of the proposal posted on the Idle governance forum.

Summary

This proposal is to approve the budget for Leagues M3-2023 (July to September 2023) contributors and operations, and a brief outline of the achieved milestones for M2-2023 (more details will be released in the upcoming M2-2023 Performance Report).

M2-2023 Retrospective

As reported and planned in the M2-2023 milestones, we have been proud to announce significant integration partners, and have been evolving our product suite and DAO structure. Below is a closer look at some of the key achievements of the past quarter:

• Collabs: Clearpool UI integration, Enso integration, Timeless integration, zkEVM expansion grant, Harvest bb-i-USD integration, Popcorn integration
• Product: Euler 100% recovery, Clearpool Portofino YTs, Clearpool Fasanara YTs, Clearpool default policies, Risk framework for BY listing
• DAO: Idle DAO LLC setup, Strategic agreement with Fasanara
• IIPs: IIP-33: Portofino Sr YTs DAI integration into BY, IIP-34: update DAI BY, IIP-35: LM update, Fasanara Sr USDT and Portofino Sr USDC integration into BY, IIP-36: Fasanara Sr USDC integration into BY, staking rewards pause

Leagues M3-2023 Quarterly Goals

1. Expand yield spectrum for stablecoins-based vaults, with focus on DeFi credit securitization markets
2. Release new Yield Tranches offering for ETH-based LST vaults
3. Develop Yield Tranches V2
4. Grow multichain product suite and kick-off ecosystem flywheel for zkEVM
5. Push for incremental utility for Yield Tranches for DeFi
6. Strengthen IDLE liquidity and use cases

Leagues M3-2023 Expected Budget

The expected budget for M3-2023 is $180,308 in stablecoin and 120,104 IDLE (using a 20-day rolling price at the time of writing).

The Treasury League multisig stablecoin holdings currently stand at $36,805 and 31,353 IDLE so if the Temperature Check for IDLE tokenholders is positive, $143,504 will be transferred from the Idle DAO Fee Treasury, and 67,751 IDLE will be transferred from the Ecosystem Fund via the next IIP and after completion of Fasanara Strategic Agreement.