Idle

Summary

This Snapshot poll aims to establish:

• the Leagues V2 structure, introducing a refined organizational infrastructure to foster cross-Leagues cooperation
• mandate budget and duration

For more detailed information regarding the new Leagues-Labs structure and budget breakdown, check the forum post.

Motivation

With the last mandate and the engagement of the Idle community, we now have 3 different Leagues that work on protocol and strategy development, treasury and business management, and communication & marketing operations. With the next mandate, we want to re-confirm this structure and the contributors working on it, and officially incorporate the C&M League body after the initial pilot program. The new teams’ structure will use a Contributors-Advisors structure (formerly PMs-Supervisors) with specialized areas of responsibility.

Details

Leagues-Labs Matrix Structure The Leagues-Labs model is focused on simplicity and cross-Leagues cooperation. When multiple and different Leagues members coordinate with each other on the same feature area, they form a Lab. Labs help build alignment across Leagues and aim to maintain it over the course of an initiative workflow.

Compensation Packages We feel that the compensation packages proposed during the last mandate have been broadly accepted and helped us find great talents within our community. Insofar, we would like to propose the same level of compensation, with the only addition of using Opyn Vesting Options on the IDLE bonus part. This would act as an additional incentive for Leagues members to reach major achievements, similar to equity options that startups typically use to incentivize employees.

Mandate Budget and Duration In May, the Treasury League received 11k IDLE as new budget and 5k IDLE from the past League mandate. In addition, at the mandate initiation, the Dev League received $20,000 in ETH for technical operations and deployments - the wallet still holds $18k (6.4 ETH).

Having Treasury League reserves entirely in IDLE has exposed the budget to extreme market fluctuations, underperforming during the past months. Furthermore, the counterparties we have been working with often accepted only stablecoins, and the sole workaround available to us was to have Idle Labs managing the payments.

This time, the planned Treasury League’s budget would use stablecoins as a unit of account for operational expenses and stablecoins/IDLE ratios for compensations.

Idle Labs would like to begin a process of integration of part of the core team with the DAO, merging the genesis team with the Leagues structure. Idle Labs members will forego the compensations for the next mandate and expenses reported below include only rewards for contributors not affiliated with Idle Labs. More details in the proposal to re-confirm the current Leagues’ team members.

The Leagues would like to allocate the following amounts to the respective Leagues’ multisigs: Treasury League: $84.3k in stablecoins ($50k operational costs, $34.3k compensations) + 16’183 IDLE (compensations); Dev League: $0, as the committee can self-sustain future expenses with current reserves C&M League: $30k in stablecoins

A detailed breakdown of the fund allocation is reported here: Budget Projection Mandate #3.

Current Idle DAO reserves (non-IDLE assets) and final reserves after Leagues funding are reported below (with market values at the time of writing): FeeTreasury: $91’000 (ETH + others) FeeCollector: $58’000 (stkAAVE + others) LP staking: $21’000 (SUSHI) Smart Treasury: $99’500 (ETH) Total: $269’500 League expenses: $104’300 Reserves after Leagues funding: $165’200

Lastly, the proposed mandate duration is 3 months.

Voting Options

Please cast your vote on one of the following options: IN FAVOR: Approve the Leagues V2 structure, mandate budget and duration AGAINST: Not proceed with this proposal DISCUSS MORE: Discuss more the structure, budget and duration

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