Buybacks

Governance > IDLE staking > Buybacks

In June 2023, the DAO decided to pause the IDLE buyback and distribution to stakers.

Part of the fees generated by the Idle DAO product suite is used to acquire IDLE from the market and distribute it to stkIDLE holders on a weekly basis, as a reward for their long-term commitment.

FeeDistributor

Fees are distributed weekly: the proportional amount of fees that each user receives is calculated based on their stkIDLE balance relative to the total stkIDLE supply, and this amount is calculated at the start of the week.

The actual distribution occurs at the end of the week based on collected fees. As such, a user that creates a new vote-lock should expect to receive their first fee payout at the end of the following epoch week.

The available IDLE to distribute is tracked via the โ€œtoken checkpointโ€, updated, at minimum, every 24 hours.

Fees that are received between the last checkpoint of the previous week and the first checkpoint of the new week will be split evenly between the weeks.

Fee distribution might be limited by high network fees (aka gas fees); in that case, accrued fees will be distributed the week after.

Stakers can claim their fees by calling claim().

Sushiswap Exchanger

Protocol fees are converted from underlying tokens in wETH and then allocated to some protocol beneficiaries from the FeeCollector, such as the Fee Treasury (owned by Idle DAO) and the Rebalancer (for operational expenses).

As part of IIP-10, the Sushiswap exchanger was added as a beneficiary to FeeCollector. This contract exchanges the protocol fees from wETH to IDLE via SushiSwap and deposits the $IDLE to the FeeDistributor.

The SushiSwap Exchanger is implemented as an upgradeable contract to make this process sustainable for the future: if liquidity for IDLE migrates to another exchange, the contract can be upgraded.

The SushiSwap exchanger implements a FeeExchanger interface which is located here.

Buybacks history

The cut-off date for the IDLE distribution to stakers is around Wednesday/Thursday night UTC. IDLE tokens received after this date are distributed the week after.

DateAmount Tx

2023-04-26 13:33 UTC

6499.4481 IDLE

2023-03-06 16:52 UTC

1616.9282 IDLE

2023-01-29 13:46 UTC

1860.5140 IDLE

2023-01-07 18:31 UTC

2000.3098 IDLE

2022-12-31 18:28 UTC

7817.7975 IDLE

2022-12-15 15:29 UTC

4419.5324 IDLE

2022-11-26 18:39 UTC

3191.7107 IDLE

2022-11-26 09:50 UTC

2873.0738 IDLE

2022-11-17 09:26 UTC

3029.7297 IDLE

2022-11-15 09:26 UTC

3207.7912 IDLE

2022-11-10 08:05 UTC

2558.1899 IDLE

2022-11-09 08:37 UTC

2219.8093 IDLE

2022-10-21 10:22 UTC

3221.9180 IDLE

2022-10-16 13:17 UTC

4047.9517 IDLE

2022-10-08 15:47 UTC

3414.6987 IDLE

2022-10-01 08:14 UTC

4450.0398 IDLE

2022-09-22 15:58 UTC

2929.2147 IDLE

2022-09-12 08:33 UTC

6162.3530 IDLE

2022-09-07 08:53 UTC

3420.0616 IDLE

2022-08-23 10:12 UTC

2937.3367 IDLE

2022-08-01 10:44 UTC

2073.9512 IDLE

2022-07-12 10:39 UTC

3280.9360 IDLE

2022-07-02 15:36 UTC

3323.1671 IDLE

2022-06-21 09:32 UTC

2289.2859 IDLE

2022-06-19 10:35 UTC

3136.6982 IDLE

2022-06-16 10:12 UTC

17838.6867 IDLE

2022-06-14 08:37 UTC

2481.2270 IDLE

2022-06-11 14:19 UTC

1914.4594 IDLE

2022-06-03 18:46 UTC

6183.7999 IDLE

2022-06-01 07:41 UTC

9268.2775 IDLE

2022-05-30 09:15 UTC

2459.1088 IDLE

2022-05-27 09:13 UTC

3090.4434 IDLE

2022-05-21 21:12 UTC

2030.3982 IDLE

2022-05-07 10:22 UTC

2174.0910 IDLE

2022-04-19 17:18 UTC

1284.4520 IDLE

2022-04-05 01:59 UTC

1167.0359 IDLE

2022-03-22 05:22 UTC

2634.1806 IDLE

2022-03-19 23:44 UTC

2929.8569 IDLE

2022-03-11 12:56 UTC

1564.1996 IDLE

2022-03-02 09:09 UTC

3277.7584 IDLE

2022-02-19 10:43 UTC

2782.5205 IDLE

2022-02-16 11:20 UTC

4708.3255 IDLE

2022-02-03 11:09 UTC

1020.3117 IDLE

2022-01-26 22:35 UTC

2364.2812 IDLE

2022-01-22 12:10 UTC

1331.7678 IDLE

2022-01-16 11:01 UTC

762.6044 IDLE

2022-01-03 09:40 UTC

915.7266 IDLE

2021-12-23 12:11 UTC

767.2338 IDLE

2021-12-14 21:05 UTC

1258.4462 IDLE

2021-12-13 09:59 UTC

807.3506 IDLE

2021-12-09 16:51 UTC

1119.1215 IDLE

2021-11-23 09:06 UTC

733.5967 IDLE

2021-11-07 15:46 UTC

1004.0310 IDLE

2021-10-30 08:24 UTC

10371.7968 IDLE

2021-10-19 09:48 UTC

783.5957 IDLE

2021-10-01 16:05 UTC

3141.5046 IDLE

2021-09-29 09:31 UTC

671.8590 IDLE

2021-09-21 09:29 UTC

864.8897 IDLE

2021-09-18 15:02 UTC

1004.1261 IDLE

2021-09-17 15:05 UTC

550.2597 IDLE

2021-09-11 11:25 UTC

501.3412 IDLE

2021-09-07 23:10 UTC

1003.8568 IDLE

2021-08-30 14:42 UTC

308.7532 IDLE

2021-08-24 08:50 UTC

3115.0880 IDLE

2021-08-24 00:19 UTC

676.2361 IDLE

2021-08-17 15:50 UTC

502.8395 IDLE

2021-08-11 08:12 UTC

533.7056 IDLE

2021-08-04 20:38 UTC

607.3764 IDLE

2021-07-30 12:59 UTC

2220.4490 IDLE

2021-07-26 08:04 UTC

535.9220 IDLE

2021-07-20 07:49 UTC

1220.0801 IDLE

2021-07-12 08:23 UTC

1480.4491 IDLE

2021-07-06 17:05 UTC

1094.6765 IDLE

Last updated