[Temperature Check] - Idle and Polygon $700k partnership

Summary

This Temperature Check aims to approve a $50k commitment in $IDLE tokens from Idle Ecosystem Fund to partner with Polygon in a $700k agreement.

Idle Leagues and Polygon team would jointly foster the development of native Polygon projects using Idle, with a $650k $MATIC incentivization program and a $50k $IDLE allocation. $MATIC rewards would be shared with any integration partner that implements Idle’s allocation strategies, while $IDLE funds would be used for grants and hackathons.

Motivation

Idle yield automation and aggregation are becoming a unique value proposition to enable other projects to easily access different yield opportunities with just one integration effort.

Idle would represent a top-notch gateway to deploy funds and maximize returns on Polygon, letting integrators focus on vault development, yield tokenization, fixed-yield products, and other on-top use cases.

Read the motivations here.

Details

A Dune dashboard, similar to the one for B2B partners, would track referrals and reward distribution over time.

Program outlines:

• Max incentivized TVL: $300m, first-come-first-serve
• APY boosting: +20% relative increment compared to APY provided by Idle strategies in Polygon, up to +1% net APY
• Rules: incentives are issued weekly to partners in proportion to the deployed TVL

The program is designed to last not less than 3 months, with the expected incentivization phase lasting about 4-5 months. The max program duration is 6 months: Idle Governance would give back any unused funds to the Polygon team after that period.

If Idle protocol reaches $300m TVL via partners’ deposits during the program, the Polygon team will commit an additional $1.35m in $MATIC to extend the program for 6 months more.

Voting Options

Please cast your vote on one of the following options: FOR: Approve $50k allocation from Ecosystem fund and partner with Polygon AGAINST: Do nothing

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