Idle

Summary

This proposal will start the process to decentrally enable any contract to interact with IDLE staking (stkIDLE module). DAO votes to deploy a SmartWalletWhitelist contract and appoints the actor managing the process.

If the proposal passes the Temperature Check, an on-chain IIP will follow.

Motivation

The locking module can be called only by EOA (no smart contracts) to avoid the tokenization and the transferability of the staked tokens, which would nullify the effectiveness of the locking.

The stkIDLE whitelisting process represents an onboarding barrier, potentially reducing the Idle DAO’s efforts in supporting the development of an open and composable ecosystem. At the same time, today no contracts are allowed to mint stkIDLE.

This proposal introduces the implementation of the SmartWalletWhitelist contract to manage the contracts interacting with the staking module.

More info about the motivation is available here.

Specifications

There are 3 actors that can finalize the whitelisting process via SmartWalletWhitelist:

1. Idle DAO: applicants need to post a request in the forum, the DAO votes via Temperature Check, and then an IIP finalizes the whitelisting on-chain. It requires applicants to publicly unveil their addresses, and the process lasts about 2 weeks.
2. Treasury League: applicants get in contact with TL members to be whitelisted. While addresses can be publicly revealed, the owners are not disclosed to preserve their privacy. The process requires a few days.
3. No actors: fully permissionless whitelisting, with all the contracts directly allowed to interact with the staking module. The whitelisting is immediate.

This proposal suggests a two-phase journey to gradually enable the decentralization of the whitelisting.

While the final aim is the removal of decisional actors, the consequences of that decision are unknown and the process is irreversible. Indeed, once the process is fully open, the creation of a whitelist would lock indefinitely contracts that already staked IDLE.

For this reason, the Treasury League can temporarily process the whitelisting requests. This intermediary phase would reduce the frictions to onboard new smart contract-based liquidity providers. The TL would accept all the requests unless there are clear proofs that a specific whitelisting would harm the protocol. In that case, the issue would be publicly discussed among the Idle Governance.

Once Idle DAO and its stakeholders get familiar with the stkIDLE whitelisting process and there is no evidence of unexpected scenarios, the Governance can fully decentralize the process and remove the appointed actor. After the implementation of SmartWalletWhitelist, which requires an on-chain IIP, the contract address will be available.

Voting Options

Please cast your vote on one of the following options: Idle DAO: Appoint Idle DAO as whitelisting actor Treasury League: Appoint Treasury League as whitelisting actor No actors: Let the whitelisting process fully open Discuss more: Discuss more the proposal

This poll is available for both $IDLE token holders and stkIDLE holders. The final $IDLE voting weights will be calculated using the approved calculator.