$IDLE Token
The Idle protocol is governed and upgraded by IDLE token-holders, using three distinct components: (1) the IDLE token, (2) the governance module (Governor Alpha), and (3) the Timelock.
Together, these contracts allow the community to propose, vote and implement changes through the administrative functions of an idleToken or the IdleController.
Proposals might include upgrades from adjusting the fee model to adding support for a new protocol.
When a proposal is created, the community can submit their votes during a 3 day voting period. If a majority and at least 520,000 (4% of the total) votes are cast for the proposal, it is queued in the Timelock and can be implemented after 2 days.
You can read more info on the role of governance in this article.
Last modified 17d ago
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