• Idle (IDLE) Review

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    Idle (IDLE), Idle is a decentralized protocol dedicated to bringing automatic asset allocation and aggregation to the interest-bearing tokens economy. Idle (IDLE) token,This protocol bundles stable crypto-assets (stablecoins) into tokenized baskets that are programmed to automatically rebalance based on different management logics.

    The Idle Protocol employs a strategy-token system. Every allocation strategy has is own set of tokens that represent a pool of yield-generating assets spread across different DeFi protocols. These tokens represent the investor’s proportional ownership of the whole pool and the interest accrued over time. This issuing method is similar to traditional mutual funds shares structure, and it allows Idle to be non-custodial.

    Currently, Idle uses two different allocation strategies:

    • Best-Yield: this strategy combines multiple money markets to automatically provide the highest interest rates, beating the best traditional offerings across interest-bearing tokens and DeFi protocols.

    • Risk-Adjusted: this strategy automatically changes the asset allocation in order to find the optimal mix between risk scores and yield.

    Consequently, users can hold IdleTokens related to a specific strategy and a specific stablecoin.

    Idle aims to unlock the power of decentralized finance for everyone by single vehicle that automatically rebalances between underlying providers to always maintain the highest rates or the optimal risk/return allocation.


    Essential Information

    Started Date August 12th 2020
    End Date November 17th 2020
    Acceptable currencies USD, BTC, ETH
    Idle Price $2.01 USD
    Token Name Idle
    Token Symbol IDLE
    Idle ROI 169.70%
    Website Link Home
    Market Cap $693,159 USD
    Circulating Supply 345,389 IDLE
    Whitepaper Whitepaper
    Market Rank #1354
    Number of tokens for sale
    Tokens exchange rate
    Minimal transaction amount

    More about Idle (IDLE):

    Best Yield strategy allows users to optimize interest rate profitability and seamlessly get the highest yield, without having to manually move funds across different lending protocols to chase the best returns.

    Users’ funds are pooled together in the main contract (one for each token supported by Idle) and every interaction with Idle smart contract can potentially reallocate funds to provide the highest aggregated interest rate for all pooled funds.

    Interest rates are constantly monitored off-chain by our infrastructure. We calculate the exact allocations for pooled funds in order to maximize aggregated APR and if current allocations are different from the newly calculated one, we submit those allocations to our contract. Every subsequent interaction of any user with the contract will perform the actual rebalance, enforcing new allocations. If no interactions are made for some time (1h currently) we then rebalance the pool.

    Hence, by buying and holding IdleTokens, users’ underlying position will be dynamically rebalanced when the best rate changes, in order to always give back the most profitable return.

    We constantly monitor APR and risk scores of every lending protocols and when new allocations can improve the main performance metric of the specific strategy chosen, we submit new allocations to the contract with our rebalance manager. Those allocations are still not enforced, but after new allocations are set every subsequent interaction with IdleToken can potentially trigger a rebalance. During the rebalance IdleToken checks new allocations and if those are different from the current ones then we change the pool composition accordingly, by minting and redeeming on different lending protocols via our wrappers (IdleCompound, IdleFulcrum, …) . If no interaction is made after some time (currently 1h) we rebalance the pool for everyone

    In addition to that anyone can also submit new allocations and rebalance the pool if needed. This type of ‘open rebalance’ will then check submitted allocations on chain and if valid then those will be applied. This functionality is available for the Best Yield strategy only at the moment but it will get ported to the Risk Adjusted strategy too.

    Both Idle strategies use the same set of smart contracts, but each allocation use a different instance of those contracts.

    Risk Adjusted

    The risk-adjusted allocation strategy provides a way to earn the best rate at the lowest risk-level. The risk-management algorithm takes account of the total assets within a pool, incorporates underlying protocol rate functions and levels of supply and demand, skimming protocols with a bad score/rate mix, and finally determining an allocation that achieves the highest risk-return score possible after the rebalance happens.

    It has been developed in collaboration with DeFiScore, a framework for quantifying risk in permissionless lending pools. DeFiScore is a single, consistently comparable value for measuring protocol risk, based on factors including smart contract risk, collateralization, and liquidity. The model outputs a 0–10 score that represent the level of risk on a specific lending protocol (where 10 is the upper bound = lowest risk, and 0 is the lower bound = highest risk).


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