[IIP-11] - Deprecate Aave v1

Summary

This off-chain poll aims to gauge the sentiment among stkIDLE holders regarding IIP-11, which has been launched on-chain. If the poll will reach the quorum, the vote will be broadcasted on-chain.

This IIP would execute Aave v1 deprecation and transfers 4’105.7 $IDLE to Leagues multisig as reimbursement for B2B affiliation program payout, allowing the committee to finalize past mandate’s operations.

IIP Motivation

In February, Idle Governance discussed Aave v2 wrapper integration and implemented it in idleDAI, idleUSDC, idleUSDT, idleSUSD, idleTUSD, idleWBTC, and idleWETH Best-Yield pools via IIP-5.

Idle protocol is currently supporting both Aave v1 and v2, but it has not allocated funds on v1 for weeks due to a lack of incentives. This is favorable timing to execute the old version’s dismission because the pool no longer represents an underlying lending source.

This forum post illustrates the rationale behind Aave v1 deprecation, and the Governance voted via Snapshot to approve this change.

This IIP consists of 9 actions, 6 used for Best-Yield pools and 3 for Risk-Adjusted ones, and the 10th slot transfers 4’105.7 $IDLE to Leagues multisig. As reported in Treasury League – Budget Extension, this amount would refund Leagues for the B2B affiliation program payout, not included in the previous Leagues’ budget but directly executed by the committee for the sake of simplicity. In this way, Leagues can complete the payout for expenses related to the past mandate.

Details

The technical implementation is reported in the on-chain IIP, developed by Dev League

This IIP complies with the stkIDLE Voting Framework. Only stkIDLE holders can vote on this poll.

Threshold to make the poll valid (both metrics should be reached):

• 30% of circulating stkIDLE voting the poll (min. 56'141 stkIDLE)
• at least 70% on the same option

If the poll will reach the quorum, the community multisig will broadcast the decision on-chain. Current On-chain Voting Power: 302'239.8518 $IDLE

Voting Options

Please cast your vote on one of the following options: FOR: Approve IIP-11 execution AGAINST: Vote against IIP-11 execution