IIP-21: Set final $IDLE distribution rate on Gauges

Summary

This IIP follows IIP20, which activated the Gauges, and sets the IDLE distribution rate to 990 IDLE/day.

With its on-chain execution in about 5 days, Idle DAO will complete the production release of Gauges at the full IDLE distribution rate approved by the Governance.

IIP motivations

[IIP-20] – $IDLE Gauges Activation --> Forum post

Gauges were deployed earlier in a guarded launch phase, allowing Dev League to test the contracts and customize the UI. IIP-20, which finalized the IDLE transfer to IdleDistribution contract, did not include the change of the Gauges’ IDLE distribution rate, now set at 10 IDLE/week. Leagues launch IIP-21 to unlock the full Gauges’ IDLE distribution rate (990 IDLE/day), whose on-chain finalization will be on April 15th.

Specifications

The code related to this IIP is here.

IIP-21 actions:

• Change IdleDistributor rate to 0.0114583333 IDLE per second: 1 action

This IIP complies with the stkIDLE Voting Framework. Only stkIDLE holders can vote on this poll. The threshold to make the poll valid (both metrics should be reached):

• 30% of circulating stkIDLE voting the poll (min. 154,246 stkIDLE)
• at least 70% on the same option

If the poll reaches the quorum, the community multisig will broadcast the decision on-chain. Current On-chain Voting Power: 684,651 $IDLE

Voting Options

Please cast your vote on one of the following options:

FOR: Approve IIP-21 execution AGAINST: Reject IIP-21 execution