# \[IIP-2\] - Add a Smart Treasury to IDLE **URL:** \ **Category:** β›“ IIPs\ **Created:** [January 27, 2021, 1:13am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211 "2021-01-27T01:13:16Z")\ **Posts on this page:** 14\ **Page:** 2
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 8, 2021, 4:12pm UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/21 "2021-02-08T16:12:24Z")
@8bitporkchop you can use this one 0xe4e69ef860d3018b61a25134d60678be8628f780 for me and @gravityblast ---
**Author:** ![8bitporkchop](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/8bitporkchop/32/24_2.png) [@8bitporkchop](https://gov.pareto.credit/u/8bitporkchop)\ **Post date:** [February 9, 2021, 10:26am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/22 "2021-02-09T10:26:13Z")
I’ve signed the transactions for 5/6 of the reviewers + development grant on the [gnosis safe](https://gnosis-safe.io/app/#/safes/0xe8eA8bAE250028a8709A3841E0Ae1a44820d677b). Still awaiting @EndymionJkb for the final reviewer, however, that isn’t blocking us from proceeding in the meantime πŸ™‚. ---
**Author:** ![unicorn](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/unicorn/32/48_2.png) [@unicorn](https://gov.pareto.credit/u/unicorn)\ **Post date:** [February 9, 2021, 12:20pm UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/23 "2021-02-09T12:20:39Z")
@8bitporkchop @william @emilianobonassi @gravityblast @patitonar @MickdeGraaf Sooooo… DAOs really work! Lol … This feels like the future has arrived. We might not have flying cars but DAOs are way cooler! ---
**Author:** ![8bitporkchop](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/8bitporkchop/32/24_2.png) [@8bitporkchop](https://gov.pareto.credit/u/8bitporkchop)\ **Post date:** [February 10, 2021, 2:35am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/24 "2021-02-10T02:35:22Z")
# Buyback is now enabled I am glad to announce that now phase 2 of IIP-2 has been successfully [executed](https://etherscan.io/tx/0x8b47cf8b6ff494b2a2fdc188cfcbf44328062a5810f80125028736ed682d34f1). The fee addresses for all idle strategy tokens has been updated to the [fee collector](https://etherscan.io/address/0xBECC659BFC6EDCA552FA1A67451CC6B38A0108E4) contract. The pool weights will gradually update to 90/10 IDLE/WETH from 2021-02-15T00:00:00Z to 2021-04-11T00:00:00Z. This can be monitored on the [balancer dashboard](https://pools.balancer.exchange/#/pool/0xcaf467dfe064a1f54e4ece8515ddf326b9be801e/about). The weights will need to be periodically poked to actually update the weights (This can be done by navigating to the `Actions` tab on the balancer dashboard). This longer duration will make the weight update as smooth as possible, which should minimise any impact on the market. The strategy tokens which have been updated include - IdleDAI - Best Yield - [0x3fE7940616e5Bc47b0775a0dccf6237893353bB4](https://etherscan.io/address/0x3fe7940616e5bc47b0775a0dccf6237893353bb4) - IdleUSDC - Best Yield - [0x5274891bEC421B39D23760c04A6755eCB444797C](http://etherscan.io/address/0x5274891bEC421B39D23760c04A6755eCB444797C) - IdleUSDT - Best Yield - [0xF34842d05A1c888Ca02769A633DF37177415C2f8](http://etherscan.io/address/0xF34842d05A1c888Ca02769A633DF37177415C2f8) - IdleSUSD - Best Yield - [0xf52cdcd458bf455aed77751743180ec4a595fd3f](http://etherscan.io/address/0xf52cdcd458bf455aed77751743180ec4a595fd3f) - IdleTUSD - Best Yield - [0xc278041fDD8249FE4c1Aad1193876857EEa3D68c](https://etherscan.io/address/0xc278041fdd8249fe4c1aad1193876857eea3d68c) - IdleWBTC - Best Yield - [0x8C81121B15197fA0eEaEE1DC75533419DcfD3151](http://etherscan.io/address/0x8C81121B15197fA0eEaEE1DC75533419DcfD3151) - IdleDAI - Risk Adjusted - [0xa14eA0E11121e6E951E87c66AFe460A00BCD6A16](http://etherscan.io/address/0xa14eA0E11121e6E951E87c66AFe460A00BCD6A16) - IdleUSDC - Risk Adjusted - [0x3391bc034f2935ef0e1e41619445f998b2680d35](http://etherscan.io/address/0x3391bc034f2935ef0e1e41619445f998b2680d35) - IdleUSDT - Risk Adjusted - [0x28fAc5334C9f7262b3A3Fe707e250E01053e07b5](http://etherscan.io/address/0x28fAc5334C9f7262b3A3Fe707e250E01053e07b5) Fees from these tokens will be routed to the fee collector here [0xBECC659BFC6EDCA552FA1A67451CC6B38A0108E4](https://etherscan.io/address/0xBECC659BFC6EDCA552FA1A67451CC6B38A0108E4). The fees will periodically be converted into WETH and deposited into the following contracts based on this distribution. - 80% Smart Treasury Buy-back \<[address](https://etherscan.io/address/0x859e4d219e83204a2ea389dac11048cc880b6aa8)\> - 15% FeeTreasury \<[address](https://etherscan.io/address/0x69a62c24f16d4914a48919613e8ee330641bcb94#code)\> - 5% IDLE rebalancer \<[address](https://etherscan.io/address/0xb3c8e5534f0063545cbbb7ce86854bf42db8872b)\> These addresses and distribution can be updated in the future by governance proposals. Thanks again to everyone who delegated votes to me, and to the reviewers who contributed to the proposal. And special thanks to the idle team for building such an awesome protocol πŸš€. ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 10, 2021, 9:55am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/25 "2021-02-10T09:55:31Z")
I’m super happy to see the Smart Treasury finally completed and fully operational! I really want to congratulate with you @8bitporkchop for the great job and all the community and reviewers for this achievement. I saw that @8bitporkchop initiated the multisig txs for peer reviewers and proposal bounties [Gnosis Safe Multisig](https://gnosis-safe.io/app/#/safes/0xe8eA8bAE250028a8709A3841E0Ae1a44820d677b/transactions) I will procede with the second sign and execution later today and post here the txs ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 10, 2021, 11:09am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/26 "2021-02-10T11:09:38Z")
Peer reviewers bounty: @patitonar [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0x37881a5d593cb06a04cd98656d7915f0e82a58b9ab3dff54be7aa0f6d4b58b70) @MickdeGraaf [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0x69d53355604bf167eb9f1414da599f16d26bb7a59cf3ddfa1087dabc19f7803e) @emilianobonassi [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0xb18b9268347e5b9e4d13961920b8be7a906be9ddb67ddd2353bdbed31f74a37e) @bugduino + @gravityblast [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0xc8afa9ce77f88188ae586696e3be4e0b39743dc905a23e91dcc160020fd64747) Proposal bounty: @8bitporkchop [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0x00824bd96dbeac8246fab8f62bb24ba8f2ce7831c505e86053117c20eed3e49e) We are missing only the address for @EndymionJkb (@Fernando maybe you can help us on this side) for the peer review and we are done! As a side note to the future Treasury Committee the expenses for this proposal, like these > [@8bitporkchop](#): > > - Execute Proposal β†’ tx [0xd155bb20…](https://etherscan.io/tx/0xd155bb20ec798a70aa81957a024cedffa8ee23c76e5d1c7aa0ef1c263708304a) > - `swap()` β†’ tx [0x29934ad8…](https://etherscan.io/tx/0x29934ad8c07efb00dcb8a41b215580bb73d3054e2c4f59ed64e6e8e247cc2cf9) > - `setIDLEPrice()` β†’ tx [0x1718aa1f…](https://etherscan.io/tx/0x1718aa1fecf0557c70648663c09af5411f88cd1635026c47edb8df8badfb71dc) > - `initialise()` β†’ tx [0x8111389d…](https://etherscan.io/tx/0x8111389d233f234929ef95195414b68f46fabf079f1eda62e235af14e573f5b9) > - `bootstrap()` β†’ tx [0xcbe221…](https://etherscan.io/tx/0xcbe221530e6c27472b3dc97479ef217ea419356415165cf5aaec038967d8cc7d) > - `renounce()` β†’ tx [0x777675db…](https://etherscan.io/tx/0x777675db69fb7e5276641d320c5d75f62f26e968aa965de51dad021267a11e4d) > - `setSmartTreasuryAddress()` β†’ tx [0xedd6297b](https://etherscan.io/tx/0xedd6297bee89bc09035311b2c669a21ffc4cf4b6af891ddb08ced72000e09d77) Should ideally be reimbursed given the non neglegible amount of gas spent ---
**Author:** ![Fernando](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/fernando/32/306_2.png) [@Fernando](https://gov.pareto.credit/u/Fernando)\ **Post date:** [February 10, 2021, 12:55pm UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/27 "2021-02-10T12:55:46Z")
Thanks a lot for this offer @william! @EndymionJkb did this review on behalf of Balancer Labs, so we will forego the bounty here. To us the most important thing is that we (together with the Idle team) do all we can to make this a success =) Best Fernando ---
**Author:** ![8bitporkchop](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/8bitporkchop/32/24_2.png) [@8bitporkchop](https://gov.pareto.credit/u/8bitporkchop)\ **Post date:** [February 10, 2021, 4:15pm UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/28 "2021-02-10T16:15:59Z")
Thanks william, This is the table summarising all the deployment costs for this IIP. (Queuing and voting are excluded) | Action | Contract | Sender | Link | Tx Fee in ETH | | --- | --- | --- | --- | --- | | Deploy SmartTreasuryBootstrap | - | Asaf | [tx](https://etherscan.io/tx/0xd56ed07f47ab2eb6c00872c4b01f822025fe15132b726107d05484385166faab) | 0.23262057 | | Deploy FeeCollector | - | Asaf | [tx](https://etherscan.io/tx/0x69cd7b54accec8e5da58083065b112f2a34bd563d04e95aec2fd76b851acec16) | 0.21096691 | | Propose IIP-2 Phase 1 | Idle Governor | Asaf | [tx](https://etherscan.io/tx/0xb453800ba5708fe14101b1e7a91e83ee337d5496c177c07adb147c25cda4648d) | 0.147218782 | | Execute IIP-2 Phase 1 | Timelock | Asaf | [tx](https://etherscan.io/tx/0xd155bb20ec798a70aa81957a024cedffa8ee23c76e5d1c7aa0ef1c263708304a) | 0.101991928 | | swap() | SmartTreasuryBootstrap | IDLE Deployer | [tx](https://etherscan.io/tx/0x29934ad8c07efb00dcb8a41b215580bb73d3054e2c4f59ed64e6e8e247cc2cf9) | 0.142847232 | | setIDLEPrice() | SmartTreasuryBootstrap | IDLE Deployer | [tx](https://etherscan.io/tx/0x1718aa1fecf0557c70648663c09af5411f88cd1635026c47edb8df8badfb71dc) | 0.01165214 | | initialise() | SmartTreasuryBootstrap | IDLE Deployer | [tx](https://etherscan.io/tx/0x8111389d233f234929ef95195414b68f46fabf079f1eda62e235af14e573f5b9) | 0.849633288 | | bootstrap() | SmartTreasuryBootstrap | IDLE Deployer | [tx](https://etherscan.io/tx/0xcbe221530e6c27472b3dc97479ef217ea419356415165cf5aaec038967d8cc7d) | 0.757283364 | | renounce() | SmartTreasuryBootstrap | IDLE Deployer | [tx](https://etherscan.io/tx/0x777675db69fb7e5276641d320c5d75f62f26e968aa965de51dad021267a11e4d) | 0.019781304 | | setSmartTreasuryAddress() | FeeCollector | IDLE Deployer | [tx](https://etherscan.io/tx/0xedd6297bee89bc09035311b2c669a21ffc4cf4b6af891ddb08ced72000e09d77) | 0.019411392 | | Propose IIP-2 Phase 2 | Idle Governor | Asaf | [tx](https://etherscan.io/tx/0xdf0b42c2b6e9da5fe98ed18c6c2aaeb231f20b03500110da4b3eae4a10a4c2fc) | 0.140209534 | | Execute IIP-2 Phase 2 | Timelock | Asaf | [tx](https://etherscan.io/tx/0x8b47cf8b6ff494b2a2fdc188cfcbf44328062a5810f80125028736ed682d34f1) | 0.067771045 | | | | | | | | **SUM** | | | | **2.701387489** | Asaf sum : **0.900778769** ETH IDLE sum : **1.80060872** ETH ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 12, 2021, 9:14am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/29 "2021-02-12T09:14:26Z")
Yesterday the first claim for weekly BAL rewards has been made [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0x602428dee12465b2aa6c578e7cdc916741748445aeb2a416bd700b7552a8b822)! A total of 23.52 BAL have been transferred to the [FeeCollector](https://etherscan.io/address/0xBecC659Bfc6EDcA552fa1A67451cC6b38a0108E4). As a reminder anyone can claim BAL rewards for the Smart Treasury once a week here [Balancer](https://claim.balancer.finance/#/0xBecC659Bfc6EDcA552fa1A67451cC6b38a0108E4). For this reason BAL has been added, through the multisig, as one of the supported β€˜fee’ tokens in in the FeeCollector, [tx](https://etherscan.io/tx/0xccf06c9931d1dd24f8b17fee093a6505779f8fc383714f7603b327d64a13afeb). ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 12, 2021, 9:15am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/30 "2021-02-12T09:15:42Z")
Thanks @Fernando , virtual hug sent 😁 ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 12, 2021, 9:19am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/31 "2021-02-12T09:19:17Z")
Last steps for this IIP is to transfer the 50 IDLE (of the peer review of @EndymionJkb) from the multisig to the ecosystem fund (or to the treasury committee once their multisig is setup) and then transfer the ownership of the FeeCollector from the multisig to the Governance. ---
**Author:** ![FedeCrypto](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/fedecrypto/32/50_2.png) [@FedeCrypto](https://gov.pareto.credit/u/FedeCrypto)\ **Post date:** [February 12, 2021, 11:51am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/32 "2021-02-12T11:51:02Z")
Great, thanks πŸ‘ πŸ‘Š ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 15, 2021, 11:17am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/33 "2021-02-15T11:17:21Z")
Multisig-tx to send 50 IDLE to the Ecosystem Fund [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0xc3cf701e6772d16094ef975edaf4c759029d011f016b22dfca341b932f233f29) Multisig-tx to transfer FeeCollector ownership to Governance (ie Timelock address) here: [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0xad11f1cd69f53acb729e243b82e2b1a706eaa82a4b032dea5ca726dd312e563c) ![Screenshot from 2021-02-15 12-16-02](https://canada1.discourse-cdn.com/flex031/uploads/idle/original/1X/8800462350bc39e6f9eab9f78d776214c15796ec.png) ---
**Author:** ![william](https://yyz1.discourse-cdn.com/flex031/user_avatar/gov.pareto.credit/william/32/10_2.png) [@william](https://gov.pareto.credit/u/william)\ **Post date:** [February 15, 2021, 11:57am UTC](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211/34 "2021-02-15T11:57:55Z")
This is the first [Ethereum Transaction Hash (Txhash) Details | Etherscan](https://etherscan.io/tx/0x362692982f6da6c1752aa55620e4b28c8a3e894f4502a6fe295267ea8e1944f4) made by the rebalancer to convert prototol fees into ISTT (Idle Smart Treasury Tokens) and effectively kicking off the fees routing mechanism for the Smart Treasury! - 4.935 WETH have been supplied to the Smart Treasury and converted in 2.71 ISTT tokens (Initial ISTT supply was 1000) - 0.925 WETH went to the FeeTreasury - 0.308 WETH went to the rebalancer address I have to say it: This is impressive! [Previous page](https://gov.pareto.credit/t/iip-2-add-a-smart-treasury-to-idle/211.md?page=1)