Glossary

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This section lists part of the frequently seen terms used in the Idle Docs, related to Idle protocol and Governance.

TermDescription

$IDLE

Governance token (ERC-20) that allows the owner to propose and vote any proposals made by token holders, or delegate voting power to another address

Best-Yield strategy

It allows users to optimize interest rate profitability and seamlessly get the highest yields across lending protocols

Perpetual Yield Tranches

Polls of different underlying tokens merged together offering different risk-return profiles (Senior vs Junior tranches)

Idle pool

Funds represented by only one asset and invested in a strategy (e.g. DAI in Best-Yield strategy)

IdleTokens

Tokens minted during deposits, that represent the underlying assets plus the interests (e.g. IdleDAIBestYield, IdleUSDCBestYield, IdleUSDTBestYield)

Proposal

It is how ideas are implemented into the Idle protocol. Proposals start as ideas in the Forum, become IIP, and then on-chain Proposals

IIP

Idle Improvement Proposal is the post that allows the discussion of a structured proposal. Itโ€™s the last step before the on-chain voting phase

Delegation

Providing voting rights to any Ethereum address that votes on your behalf

Self-delegation

Assigning the voting rights to yourself

Liquidity Bootstrap Program

Distribution of $IDLE tokens to liquidity providers

Liquidity Mining Program

Distribution of $IDLE tokens to liquidity providers for 23 months, starting from December 26th, 2020.

Early LPs

Users that provided liquidity before November 1st, 2020

Fiat on-ramp

Tools to buy tokens with bank accounts or credit cards

Idle Forum

Discourse forum that collects the discussions related to Governance and protocol improvements

Idle Snapshot

This interface allows community members to signal their voting sentiment regarding a possible proposal

Governance Dashboard

The interface that allows community members to cast votes on-chain and determine if an IIP will be approved or not

Temperature Check

A method to taste the sentiment of the community about a potential change. Used at the early stage of the off-chain Proposal process

Pending State

The period immediately after that a proposer deploys on-chain the Proposal

Voting phase

The period when IDLE token holders cast their vote โ€œForโ€ or โ€œAgainstโ€

Execution phase

The period when the Proposal is implemented or rejected

Grant

Allocation of crypto to selected contractors to code a protocolโ€™s change. Grant Proposals are launched when Proposals donโ€™t come with executable code

Bounty request

A request of funds to execute self-proposed tasks

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