# \[IIP-18\] - Governor bravo update, M1-2022 Leagues budget transfer, Idle Smart Treasury migration, and Enzyme Bug Bounty **URL:** \ **Category:** ⛓ IIPs\ **Created:** [January 14, 2022, 12:03pm UTC](https://gov.pareto.credit/t/iip-18-governor-bravo-update-m1-2022-leagues-budget-transfer-idle-smart-treasury-migration-and-enzyme-bug-bounty/895 "2022-01-14T12:03:51Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![Biaf](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/biaf/32/213_2.png) [@Biaf](https://gov.pareto.credit/u/Biaf)\ **Post date:** [January 14, 2022, 12:03pm UTC](https://gov.pareto.credit/t/iip-18-governor-bravo-update-m1-2022-leagues-budget-transfer-idle-smart-treasury-migration-and-enzyme-bug-bounty/895/1 "2022-01-14T12:03:51Z")
### Authors Treasury League and Development League ### Summary This proposal collects multiple initiatives: - [Governor Bravo update](https://gov.pareto.credit/t/governor-bravo-upgrade/874/2) - [M1-2022 Leagues budget transfer](https://gov.pareto.credit/t/leagues-budget-m1-2022/876/3) - [Idle Smart Treasury migration](https://gov.pareto.credit/t/remove-idle-smart-treasury-and-deploy-200k-idle-into-bancor-and-uni-v3/885) - [Enzyme Bug Bounty cooperation](https://gov.pareto.credit/t/enzyme-bug-bounty-cooperation/741) ### Rationale For a comprehensive analysis of each initiative, we suggest visiting the dedicated governance forum posts linked below. **Governor Bravo upgrade** → [Forum post](https://gov.pareto.credit/t/governor-bravo-upgrade/874) > [Idle Governance contracts](https://github.com/Idle-Labs/idle-governance) are based on [Compound Governor Alpha](https://medium.com/tally-blog/the-case-for-governor-alpha-15c1362d49eb), a battle-tested fully on-chain module that allows token holders to permissionless propose protocol improvements, vote proposals, delegate their votes, execute protocol changes. > The Governor Alpha contract has become a standard in the Ethereum community. It demonstrated robustness and transparency for on-chain processes, with composability via meta-governance features. > In March 2021, Compound DAO deployed an upgraded version of it: [Governor Bravo](https://www.comp.xyz/t/governor-bravo-development/942). Major upgrades introduced by Governor Bravo will be: > - More flexibility in voting options; > - Upgradability of the key Governance parameters (proposal submission threshold, quorum threshold, voting delay, and voting periods). **M1-2022 Leagues budget** → [Forum post](https://gov.pareto.credit/t/leagues-budget-m1-2022/876/3) > The Leagues’ budget for Mandate 1 of 2022 ( **M1-2022** ) spanning from January to March 2022. > The budget will be used to pay for Leagues members contributions (_Rewards_) and to cover the operational costs of the three Idle Leagues (_Operations_). The **overall budget** can be split as follows: > - $109k worth of $IDLE will be transferred from the [Ecosystem fund](https://etherscan.io/address/0xb0aa1f98523ec15932dd5faac5d86e57115571c7). > - $138k of $USDC and Ethereum will be transferred from the [Fee treasury](https://etherscan.io/address/0x69a62c24f16d4914a48919613e8ee330641bcb94). > Additionally, all the funds remaining from 2021 in the [Treasury League multisig wallet](https://etherscan.io/address/0xFb3bD022D5DAcF95eE28a6B07825D4Ff9C5b3814) (~$30k after December rewards) will contribute to the mandate stablecoin funding, resulting in a net budget need of **~$108k**. **Idle Smart Treasury migration** → [Forum post](https://gov.pareto.credit/t/remove-idle-smart-treasury-and-deploy-200k-idle-into-bancor-and-uni-v3/885) > This proposal will redeem liquidity from [Idle Smart Treasury](https://pools.balancer.exchange/#/pool/0xcaf467dfe064a1f54e4ece8515ddf326b9be801e/) (210k IDLE and 14 WETH) to deploy 187k IDLE into[IDLE/BNT](https://app.bancor.network/pools/add-liquidity/0x1092d8d818C09a55968180a4383049f91689C2b4) pool on Bancor and 23k IDLE + 14 WETH into [Uni v3 full-range pool](https://info.uniswap.org/#/pools/0x79e42a2bb91a0f9118e2b5231958c1eaefce390c). > Idle DAO will benefit from Bancor single-sided liquidity deployment and impermanent loss protection while reducing slippage on DEX. > Furthermore, the DAO will increase the robustness of Uni v3 oracle, allowing more users to safely interact with $IDLE lending platforms. **Enzyme bug bounty** → [Forum post](https://gov.pareto.credit/t/enzyme-bug-bounty-cooperation/741) > This proposal aims to refund $25k in $IDLE to Enzyme Finance for the bug bounty paid to the reporter of a potential vulnerability in our partners’ integrations. ### Specifications The code for the IIP is [here](https://github.com/Idle-Finance/idle-proposals/blob/main/scripts/iip-18.ts). New contracts for _Governor Bravo_ are - [GovernorBravoDelegate](https://etherscan.io/address/0xe8707753c468238723887a4b7b47495a2d311f85) (Delegate, ie Implementation) - GovernorBravoDelegator (Delegator, ie Proxy) IIP-18 actions: - Migrate to Governor Bravo: - Set new admin for the Timelock - Set Dev Multisig wallet as the Governor Bravo whitelisted guardian - Initialize Governor Bravo - Withdraw WETH balance from [Fee Treasury Fund](https://etherscan.io/address/0x69a62c24f16d4914a48919613e8ee330641bcb94) to the Treasury multisig wallet - Withdraw USDC balance from [Fee Treasury Fund](https://etherscan.io/address/0x69a62c24f16d4914a48919613e8ee330641bcb94) to the Treasury multisig wallet - Withdraw 48,493 $IDLE from [Ecosystem Fund](https://etherscan.io/address/0xb0aa1f98523ec15932dd5faac5d86e57115571c7) to the Treasury Multisig wallet - Remove Smart Treasury from Fee Collector distribution (fees will be distributed to the Fee Treasury Fund) - Withdraw all funds from the [Smart Treasury](https://pools.balancer.exchange/#/pool/0xcaf467dfe064a1f54e4ece8515ddf326b9be801e/) (~15 WETH, ~208,000 $IDLE) - Send 6250 $IDLE from [Ecosystem Fund](https://etherscan.io/address/0xb0aa1f98523ec15932dd5faac5d86e57115571c7) to Enzyme wallet ### Next Step We are going to leave this thread open for comments regarding these changes, and in about 72hrs, if there are no objections, we will proceed with the on-chain proposal and the voting phase. ---
**Author:** ![Biaf](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/biaf/32/213_2.png) [@Biaf](https://gov.pareto.credit/u/Biaf)\ **Post date:** [January 17, 2022, 6:13pm UTC](https://gov.pareto.credit/t/iip-18-governor-bravo-update-m1-2022-leagues-budget-transfer-idle-smart-treasury-migration-and-enzyme-bug-bounty/895/2 "2022-01-17T18:13:37Z")
### On-chain Voting Phase ✍ Cast your on-chain $IDLE vote here: [IIP-18](https://idle.finance/#/governance/proposals/18) 🗓 End date: 2022-01-20T07:30:00Z ✍ $IDLE stakers (stkIDLE holders) can vote here: [stkIDLE snapshot poll](https://snapshot.org/#/staking.idlefinance.eth/proposal/0x36e784d0a51985c047818af3dc1406cc44acce094728e21c8a49e0a4fc553bb1) 🗓 End date: 2022-01-19T14:00:00Z The threshold to make the off-chain poll valid (both metrics should be reached): 30% of circulating stkIDLE voting the poll (min. 87’857 stkIDLE) and at least 70% on the same option. The [stkIDLE voting calculator](https://docs.google.com/spreadsheets/d/1BnH9boRmBADuyquvDMh0AmQfF97Zj76sIENKtySLU8o/edit?usp=sharing) will be used to calculate the final results. ---
**Author:** ![Biaf](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/biaf/32/213_2.png) [@Biaf](https://gov.pareto.credit/u/Biaf)\ **Post date:** [January 20, 2022, 5:56pm UTC](https://gov.pareto.credit/t/iip-18-governor-bravo-update-m1-2022-leagues-budget-transfer-idle-smart-treasury-migration-and-enzyme-bug-bounty/895/3 "2022-01-20T17:56:30Z")
Idle DAO community, **IIP-18** is now queued and will be soon executed 🚀 ![image](https://canada1.discourse-cdn.com/flex031/uploads/idle/original/1X/35a30f54ff8293ec547cba3a28beace07f1a3f18.png) There were more than 800k votes in favour of this proposal 💫