Idle DAO
From November 26th, 2020, the Idle protocol is governed and owned by a DAO powered by the IDLE governance token. The Idle DAO promotes key activities to ensure a proper protocol’s maintenance and improvements in the years to come.
Idle governance is based on the Compound governance architecture, for a more in-depth description of all methods available please refer to their guide here
This decentralized network governs and manages the strategic decisions of the protocol, enabling community participants to drive and contribute to the protocol’s future developments. The Idle protocol is managed by the Governance (Idle DAO) through IIPs (Idle Improvement Proposals).
All admin powers have been transferred to IDLE holders, allowing the community to lead maintenance and development of the protocol.
The ability to pause deposit and rebalance actions are still in place for security purposes in case of emergencies and are maintained by the Guardian multi-sig. The guardian can be changed at any time by the governance with a proposal.
The Security Management Policy for the protocol is further explained here.
In early 2021, Idle DAO decided to implement a Leagues (subDAOs) model, as a solution to the scaling problems that DAOs face.
Given the amorphous nature of the organizational structure of a DAO, varied participation often occurs and most members tend towards relatively passive participation. Rather than leaving every IDLE token holder with the burden of planning, executing, and voting on all the aspects of the protocol, each subDAO takes care of the daily maintenance of the related tasks and budget.
To learn more about Idle Leagues, follow this link.
Last modified 16d ago
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