Architecture
The main smart contracts used by Idle are the following ones:
  • IdleToken - holds pooled funds of all users for a specific asset and issues ERC20 shares of the pool (IdleTokens) for each deposit.
  • IdleCompound, IdleFulcrum, IdleAave, IdleDyDx, IdleDSR are all wrappers contract used by IdleToken to interact with the lending protocols implemented
We constantly monitor APRs and risk scores of every lending protocol and when new allocations can improve the main performance metric of the specific strategy chosen, we submit new allocations to the contract with our rebalance manager. Those allocations are still not enforced, but after new allocations are set any user can potentially trigger a rebalance. During the rebalance IdleToken checks new allocations and if those are different from the current ones then we change the pool composition accordingly, by minting and redeeming on different lending protocols via our wrappers (IdleCompound, IdleFulcrum, ...). If no rebalance is made after some time (currently 3h) we rebalance the pool for everyone
Both Idle strategies use the same set of smart contracts, but each allocation uses a different instance of those contracts.
Last modified 6mo ago
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