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Other > Glossary |
This section lists part of the frequently seen terms used in the Idle Docs, related to Idle protocol and Governance.
| Term | Description | |
|---|---|---|
| $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. 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 | |
| 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 “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 |