Idle

Summary

This Temperature Check aims to define the frameworks that allow stkIDLE holders to vote off-chain and on-chain proposals. When on-chain proposals are live, an off-chain poll for stkIDLE holders will mirror the on-chain question. There are two possible options to set the poll’s thresholds that make on-chain vote broadcasting valid. When off-chain polls are launched, an off-chain poll for stkIDLE holders will mirror the off-chain question. This proposed solution would aggregate the stkIDLE votes with the ones cast by $IDLE token holders.

Motivation

With the launch of $IDLE staking, stakers have no more access to voting features. To enable the on-chain voting option, the governance tokens deposited into the staking contract are delegated to a community multisig. The implementation of an ad-hoc off-chain voting strategy lets stkIDLE holders cast their preference for on-chain proposals, and a community multisig is in charge of on-chain vote broadcasting once the off-chain polls reach the thresholds, voting with its entire balance.

The same off-chain ad-hoc voting strategy can be used to let stkIDLE holders cast their preference for off-chain polls.

Details

ON-CHAIN VOTES Voting strategy: stkIDLE holders voting space. Threshold to make the poll valid:

• Option 1: low quorum (30% of stkIDLE) but high consensus (70%+ on the same choice). This option would require a minimum of 21% of stkIDLE voting the same thing. A lower barrier to entry would allow the Governance to reach the 520,000 $IDLE quorum on on-chain proposals easily. Drawback: a tiny group can potentially pivot a large number of votes.
• Option 2: high quorum (60% of stkIDLE) but low consensus (51% on the same choice). This option would require a minimum of 31% of stkIDLE voting the same thing. Benefit: the parameters require a large voting base, so the final vote can not be influenced by few individuals. Drawback: if the poll does not meet the quorum, the vote is not broadcasted and this voting power can not help the Governance reaching the 520,000 $IDLE quorum. Voting weight: 100% of the staked $IDLE voting weight

OFF-CHAIN VOTES Voting strategy: stkIDLE holders voting space. Threshold to make the poll valid: no quorum required Voting weight: the voting stkIDLE amount is calculated in the form of weighted IDLE tokens using the formula: “total IDLE staked / total stkIDLE minted * total stkIDLE voting the snapshot * % of each option”

The sum of the voting weights cast by $IDLE and stkIDLE holders represents the final snapshot results.

This poll is the first one launched for both $IDLE token holders and stkIDLE holders.

Voting Options

Please cast your vote on one of the following options: OPTION 1: Approve option 1 for on-chain stkIDLE vote broadcasting and the proposed solution for off-chain polls OPTION 2: Approve option 2 for on-chain stkIDLE vote broadcasting and the proposed solution for off-chain polls DISCUSS MORE: Discuss more the on-chain and off-chain Voting Framework for stkIDLE holders AGAINST: Not proceed with this proposal