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Glossary

This document lists the terms used in Idle Forum, related to Idle protocol and Governance phases.

  • Idle protocol: a yield aggregator and rebalancing protocol, which offers a suite of allocation strategies that provides efficient lending aggregation and yield generation.

  • $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.

  • Risk-Adjusted strategy: it provides a way to earn the best rate across the safest lending protocols.

  • 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 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. It’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 between November 26th and December 26th 2020.

  • Liquidity Mining Program: distribution of IDLE tokens to liquidity providers for 23 months, starting from December 26th 2020.

  • Fiat on ramp: tools to buy tokens with Bank account or Credit card

  • Early LPs: users that provided liquidity before November 1st 2020.

  • Idle Forum: Discourse forum that collects the discussions related to Governance and protocol improvements.

  • Idle Snapshot Page: 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.

  • Consensus Check: a method to taste the sentiment of the community about a potential change. Used at the final 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 “For” or “Against”.

  • Execution Phase: the period when the Proposal is implemented or rejected.

  • Grant: allocation of crypto to selected contractors to code a protocol’s change. Grant Proposals are launched when Proposals don’t come with executable code.

  • Bounty request: a request of funds to execute self-proposed tasks.

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Last updated 4 months ago