[Temperature Check] - DyDx deactivation

Summary

This Temperature Check gauges the community sentiment on the proposal to remove dYdX as underlying yield source from Best-Yield DAI and USDC pools.

If the proposal will pass the Temperature Check, it will be merged with the next IIP.

Motivation

dYdX Inc. team announced that spot and margin trading on the dYdX Layer1 (Solo) will enter Close Only Mode. All users are strongly encouraged to close any open position and withdraw from all lending pools before the Close Date.

Idle tokenized dYdX Layer1 positions to allow users to earn interest on DAI and USDC, and that source is currently used by Idle strategies. With the upcoming wind-down, Idle Governance should proceed with dYdX support removal.

In that scenario, DAI and USDC pools will deploy funds only across Aave and Compound.

The forum post analyses Fuse, highlights the lack of pools able to host Idle’s liquidity without affecting our risk profile. Fuse support on DAI and USDC is not part of this Temperature Check.

Details

The technical implementation will be developed by Dev League.

Actions:

• dYdX removal from Best-Yield DAI and USDC pools: 2 actions

Voting Options

Please cast your vote on one of the following options: FOR: Approve DyDx deactivation AGAINST: Vote against DyDx deactivation 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.