The Modern Financial Data Platform

Subscribe for $2

Trusted by leading companies and financial institutions

Analyse
Profile
Idle Stock

Idle

IDLE

Price

0.00
Today +/-
+0
Today %
+0 %

Idle Whitepaper

  • Simple

  • Expanded

  • Experte

Börse Marktpaar Preis +2% Tiefe -2% Tiefe Volumen (24H) Volumen % Typ Liquiditätsbewertung Aktualität

Idle FAQ

What is Idle (IDLE)?

Idle is a decentralized finance project guided by a straightforward principle: “Money should never sit still.” The initial version of this project was launched in August 2019, with numerous enhancements implemented over subsequent months. This development culminated in the release of Idle Finance V3, designed to offer a more streamlined interface and enhanced user experience. Idle enables cryptocurrency investors to create a portfolio tailored to their risk preference. Upon depositing funds, users' assets are automatically distributed across various DeFi protocols to generate interest. Portfolios are regularly adjusted to capitalize on better opportunities, and a dashboard provides a comprehensive overview of fund performance.

Who Are the Founders of Idle (IDLE)?

Idle’s CEO, Matteo Pandolfi, co-founded the project during a ConsenSys hackathon, as noted on his LinkedIn profile. He describes his responsibilities at the company as encompassing “everything but code,” which includes establishing the platform’s strategic vision, recruiting new talent, and leading strategic sales initiatives. In an interview with BitCompare, Pandolfi shared a key insight he gained since the inception of the company: the importance of iterative improvement, emphasizing that attempting to create a perfect product on the first attempt is less effective than refining it through user feedback. The other co-founder of Idle is William Bergamo, who holds the position of Chief Technical Officer.

**What Distinguishes Idle Finance?**

Idle distinguishes itself by allowing users to forgo the manual transfer of funds between the numerous DeFi protocols available today, a capability facilitated through the holding of IDLE tokens. Additionally, a notable characteristic of Idle Finance is its commitment to user-friendliness. The team has endeavored to simplify their product, acknowledging that the complexities of blockchain present a considerable barrier to many investors who might otherwise be eager to explore the possibilities offered by cryptocurrency. In a recent interview with DeFi Prime, Pandolfi expressed the view that concerns about gas should be limited to developers. He further suggested that integrating insurance into products is essential to mitigate the risks associated with smart contract losses.

What is the Total Circulation of Idle Finance (IDLE) Coins?

As of late January 2020, Eulerpool data indicates that there are 892,640 IDLE in circulation, with a maximum supply of 13 million tokens. An airdrop for IDLE tokens took place in late 2020, and anyone who had interacted with this platform before October 2020 was eligible.

How is the Idle Finance Network Secured?

Idle Finance’s tokens operate on the Ethereum network. The platform has been subjected to multiple security audits conducted by Quantstamp. In the December 2020 assessment, Quantstamp stated that these contracts "are generally well documented and well designed." For further details, please refer to Eulerpool.

Where Can You Purchase Idle Finance (IDLE)?

The primary marketplace for obtaining Idle Finance tokens is Uniswap, where it is paired with Wrapped ETH (WETH). For additional information on converting local fiat currencies into cryptocurrencies like Bitcoin, refer to our comprehensive guide available on Eulerpool.

Investors interested in Idle are also interested in these Cryptos

This list presents a carefully selected selection of Cryptos that might be of interest to investors. We have our own crypto analyses for all listed Cryptos on Eulerpool.

Beginnings and the Rise of Cryptocurrencies

The history of cryptocurrencies began in 2008 when an individual or group using the pseudonym Satoshi Nakamoto published the whitepaper "Bitcoin: A Peer-to-Peer Electronic Cash System." This document laid the foundation for the first cryptocurrency, Bitcoin. Bitcoin utilized a decentralized technology known as blockchain to enable transactions without the need for a central authority.

In January 2009, the Bitcoin network commenced with the mining of the Genesis Block. Initially, Bitcoin was more of an experimental project for a small group of enthusiasts. The first known commercial purchase using Bitcoins occurred in 2010, when someone spent 10,000 Bitcoins on two pizzas. At that time, the value of one Bitcoin was just fractions of a cent.

The development of other cryptocurrencies

Following the success of Bitcoin, other cryptocurrencies soon emerged. These new digital currencies, often referred to as "Altcoins," sought to use and improve blockchain technology in various ways. Some of the most well-known early Altcoins include Litecoin (LTC), Ripple (XRP), and Ethereum (ETH). Ethereum, founded by Vitalik Buterin, was particularly distinct from Bitcoin, as it enabled the creation of smart contracts and decentralized applications (DApps).

Market Growth and Volatility

The cryptocurrency market grew rapidly, and with it public attention. The value of Bitcoin and other cryptocurrencies experienced extreme fluctuations. Highlights such as the end of 2017, when the Bitcoin price nearly reached 20,000 US dollars, alternated with sharp market crashes. This volatility attracted both investors and speculators.

Regulatory Challenges and Acceptance

As the popularity of cryptocurrencies rose, governments around the world began to grapple with the regulation of this new asset class. Some countries adopted a friendly stance and encouraged the development of crypto technologies, while others introduced strict regulations or outright banned cryptocurrencies. Despite these challenges, the acceptance of cryptocurrencies in the mainstream has steadily increased, with companies and financial institutions starting to adopt them.

Recent Developments and the Future

In recent years, developments such as DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens) have broadened the range of possibilities offered by blockchain technology. DeFi enables complex financial transactions without traditional financial institutions, while NFTs allow for the tokenization of artwork and other unique items.

The future of cryptocurrencies remains exciting and uncertain. Questions about scalability, regulation, and market penetration remain open. Nevertheless, interest in cryptocurrencies and the underlying blockchain technology is stronger than ever, and their role in the global economy is expected to continue growing.

Advantages of Investing in Cryptocurrencies

1. High Return Potential

Cryptocurrencies are known for their high potential returns. Investors who got in early on projects like Bitcoin or Ethereum have made substantial gains. This high return makes cryptocurrencies an attractive investment opportunity for risk-seeking investors.

2. Independence from Traditional Financial Systems

Cryptocurrencies offer an alternative to the traditional financial system. They are not bound to the policies of a central bank, making them an attractive hedge against inflation and economic instability.

3. Innovation and Technological Development

Investing in cryptocurrencies also means investing in new technologies. Blockchain, the technology behind many cryptocurrencies, has the potential to revolutionize numerous industries, from financial services to supply chain management.

4. Liquidity

Cryptocurrency markets operate around the clock, which means high liquidity. Investors can buy and sell their assets at any time, which is a clear advantage compared to traditional markets that are tied to opening hours.

Disadvantages of Investing in Cryptocurrencies

1. High Volatility

Cryptocurrencies are known for their extreme volatility. The value of cryptocurrencies can rise or fall quickly and unpredictably, posing a high risk to investors.

2. Regulatory Uncertainty

The regulatory landscape for cryptocurrencies is still emerging and varies greatly from country to country. This uncertainty can lead to risks, especially when new laws and regulations are introduced.

3. Security Risks

While blockchain technology is considered very secure, there are risks associated with the storage and exchange of cryptocurrencies. Hacks and fraud are not uncommon in the crypto world, which requires additional precautions.

4. Lack of Understanding and Acceptance

Many people do not fully understand cryptocurrencies and the underlying technology. This lack of understanding can lead to misguided investments. Additionally, the acceptance of cryptocurrencies as a means of payment is still limited.