Governance > Idle DAO > $IDLE token > Distribution
The IDLE distribution (via the LPs Fund) is broken down into three different programs:
Liquidity Mining
Long-term Rewards
Liquidity Bootstrap
Status: Live
This program will last 6 months and will use 30% of the $IDLE allocated to the liquidity mining program resulting in a 990 $IDLE/day distribution over a semester (178,200 $IDLE in total).
Currently, the Gauges system affects the rewards distribution of Senior PYTs.
Status: Live
This program will last 2 years and is used to reward liquidity providers depending on the amount of funds deposited and the utility generated by the pool (APY of the pool); it will distribute 18% of the total supply (2'340'000 IDLE) on a per-block basis across all Idle Best Yield strategies. Part of the funds devoted to liquidity mining for the BY strategy has been moved to the Gauges system of PYTs.
Status: distribution voted by Idle DAO
This program is meant to reward long-term actors and liquidity providers of the Idle ecosystem. 20% of the total supply (2'600'000 IDLE) is allocated to this program.
The long term distribution program won't start right at the governance launch, but 20% of the total supply has already been reserved and sent to the LongLPFund 0x107A369bc066c77FF061c7d2420618a6ce31B925 which is managed by the governance.
Status: Ended
This program distributed 3% of the total supply (390'000 IDLE) to liquidity during the first 30 days after governance inception. It has been based on the Liquidity Mining program with applied an x4 multiplier to the basic reward amount per block.
The Liquidity Mining program distributes $IDLE through the IdleController contract, which computes the utility generated by each BY strategy (idleDAI, idleUSDC, ...) and proportionally allocates the $IDLE rewards between all these pools. To compute the utility generated by each strategy, the IdleController uses a PriceOracle which reads data such as WBTC or COMP price (in USD) and uses it to compute the correct share of LM program distribution for each pool. To update the distribution speeds, and effectively adjust the IDLE distribution for the strategies depending on current TVL and APYs, the public method refreshIdleSpeeds should be called from time to time.
Funds for the Liquidity Mining and the Liquidity Bootstrap programs have been sent to the Reservoir contract which progressively unlocks IDLE rewards for the IdleController. In order to transfer unlocked IDLE from the Reservoir to the IdleController the Reserve contract should be poked by calling the drip method. Gauges rewards are distributed through the Distributorcontract.
The governance is also responsible for managing the Ecosystem Fund 0xb0aA1f98523Ec15932dd5fAAC5d86e57115571C7 which represents 15% of the total supply (1'950'000 IDLE). This fund's purpose is to fund Idle DAO and its community.
Additionally, 4% of the total supply (520'000 IDLE) has been reserved, at launch, to Early LPs through the Early Rewards contract 0xa1F71ED24ABA6c8Da8ca8C046bBc9804625d88Fc.
Early Rewards not claimed 90 days after launch (26th November 2020) have been automatically transferred to the Ecosystem Fund.
The remaining 40% of the supply is allocated in the following manner:
  • Team + Future Team: 22.7% of the total supply (with a 3 years lockup: 33.33% unlocked after 1 year, 66.67% unlocked linearly for the next 24 months)
  • Investors: 17.3 % of the total supply (with a 2 years lockup: 25% unlocked after 6 months, 75% unlocked linearly for the next 18 months)
Both lockup schedules started on Nov 26th 2020, and are enforced through the following smart contracts:
Team + Future Team
The above $IDLE emission schedule does not take account of the Ecosystem Fund and the LongTerm LPs Program funds. Those will be deployed via an $IDLE community vote).
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