Idle DAO
Governance > Idle DAO
Last updated
Governance > Idle DAO
Last updated
Since 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 proper protocol maintenance and improvements in the years to come.
Name: Idle DAO LLC
Address: Long Island Road, Majuro, MH 96960, Marshall Islands
Licence duration: 5 years from June 23rd, 2023
Reference: Governance post
The Idle DAO, composed of $IDLE token holders, enables community participants to drive and contribute to the protocol’s future developments.
Protocol changes are implemented through IIPs (Idle Improvement Proposals). Idle governance is based on the Governor Bravo governance architecture, for a more in-depth description of all methods available please refer to the official guide here.
All admin powers have been transferred to $IDLE holders, allowing the community to lead the maintenance and development of the protocol.
The ability to pause deposits and rebalances is still in place for security purposes in case of emergencies and is maintained by the Guardian multisig. The guardian can be changed at any time by the DAO with a proposal.
The Security Management Policy for the protocol is further explained here for BY and here for YTs.
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 protocol aspects, each subDAO takes care of the daily maintenance of the related area of expertise using the budget assigned by $IDLE token holders, on a mandate basis.