Idle is a decentralized rebalancing protocol that enables users to automatically and algorithmically manage their digital asset allocation across various third-party DeFi protocols. With Idle, crypto investors can create a portfolio that aligns with their risk appetite. Upon depositing funds, the protocol automatically distributes them among a range of DeFi protocols, allowing users to earn interest. Portfolios are regularly rebalanced to seize better opportunities, and a dashboard provides a comprehensive overview of fund performance. The Idle Protocol operates using a strategy-token system, where each allocation strategy has its own tokens representing a pool of yield-generating assets across different DeFi protocols. These tokens signify the investor's proportional ownership of the entire pool and the interest earned over time. This issuance method resembles the shares structure of traditional mutual funds, ensuring Idle remains non-custodial.

The IDLE token serves as the native governance token of Idle.

Idle is a decentralized finance project that lives by one simple motto: Money should never sit still.

The first iteration of this project went live in August 2019 — and a series of enhancements have been made in the months since. This subsequently led to the launch of Idle Finance V3, which aimed to deliver a streamlined interface and a better experience for users.

Through Idle, crypto investors can establish a portfolio that best manages their risk appetite. Once users make a deposit, funds are automatically distributed among a range of DeFi protocols, enabling them to earn interest. Portfolios are regularly rebalanced when better opportunities come along, and a dashboard offers an at-a-glance insight into how funds are performing.

Idles CEO is Matteo Pandolfi, and according to his LinkedIn profile, the project was co-founded during a ConsenSys hackathon. He has described his role at the company as everything but code — meaning that he is tasked with establishing the platforms vision for the future, recruiting new talent, and leading strategic sales.

In an interview with BitCompare, he explained that one of the most powerful lessons hes learned since starting the company is that theres little point in attempting to build a perfect product the first time round — instead, its better to make improvements along the way that are informed by feedback from users.

Pandolfis fellow co-founder at Idle is William Bergamo, who serves as the companys chief technical officer.

One of Idles unique selling points lies in how users dont need to move their money manually between the plethora of DeFi protocols that exist today. This is achieved through holding IDLE tokens.

But another distinctive attribute concerns the fact that Idle Finances team has aimed to make their product as easy to use as possible. Blockchain complexity is an insurmountable hurdle for many investors who would otherwise be interested in learning more about what crypto has to offer.

In a recent interview with DeFi Prime, Pandolfi said that he believes gas should only be a thing that developers need to be concerned with — adding that insurance should be integrated into products to eliminate the risks associated with smart contract losses.

As of late January 2020, BYDFi data suggests that there are 892,640 IDLE in circulation, with a maximum supply of 13 million tokens.

An airdrop for IDLE tokens was held in late 2020 — and anyone who had interacted with this platform before October 2020 was eligible.

Idle Finances tokens are based on the Ethereum network. The platform has undergone several security audits courtesy of Quantstamp, which concluded in a December 2020 assessment that these contracts are generally well documented and well designed.

The main market for acquiring Idle Finance tokens is found on Uniswap, where a pairing is offered with Wrapped ETH (otherwise known as WETH for short.) Learn more about how to convert local fiat currencies into crypto assets such as Bitcoin with our straightforward guide.