[Temperature Check] - Enable $IDLE liquidity mining on IdleFEI

Summary

This Temperature Check gauges the community sentiment on the proposal to activate $IDLE liquidity mining on IdleFEI on idleFEI Best-Yield pool.

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

Motivation

Idle DAO initiated the journey to make the relationship with the vibrant Fei community stronger, representing a secure and fruitful place for FEI holders and Fei DAO itself.

With the Integration Standard Requirements already complied, 1 month in beta phase, and the pool’s TVL ($3m) that makes the rebalance cost sustainable, IdleFEI Best-Yield landed in production.

As a next step, we would like to introduce the idea of enabling $IDLE farming for the FEI pool. If Governance will approve this proposal, the idleFEI pool will then be included in the $IDLE liquidity mining program and will dynamically receive $IDLE depending on TVL and APY of the pool.

$IDLE liquidity mining would allow Idle to attract a wide potential target market ($500m circulating supply). At the same time, the extension of $IDLE governance ownership to FEI LPs would represent a way to incentivize participation in the upcoming idleFEI tranches, built on top of the Best-Yield strategy.

The Fei community will then have access to the “neutral” Best-Yield, “protected” Senior Tranche, and “leveraged” Junior Tranche, expanding the suite of yield optimization products.

The collaboration with Fei DAO could further incentivize liquidity provision thanks to TRIBE Liquidity Mining distributed via Tribal Chief Programs. Lastly, Fei DAO could also consider Idle as a yield source for its $1b PCV allocation, which is mainly deposited in Aave and Compound.

Details

The technical implementation will be developed by Dev League.

Actions:

• idleFEI liquidity mining activation: 2 actions

Voting Options

Please cast your vote on one of the following options: FOR: Approve $IDLE liquidity mining activation on IdleFEI AGAINST: Vote against $IDLE liquidity mining activation on IdleFEI 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.