Rook DAO Status Update 8.5.22

Rook DAO Status Update 8.5.22
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Rook DAO Status Updates are community calls held every other Friday and are intended to quickly bring our community up to speed on the latest developments, decisions, investments, and events that matter most to our community.

To participate in the calls and ask any questions you may have, join our Discord!

Housekeeping:

  • KIP-27: The Bancor Withdrawal has passed unanimously. The treasury team will initiate the withdrawal during the next multisig execution round. [1:00m]
  • Hazard was recently interviewed by Token Terminal. Well worth a listen! [1:30m]
  • KIP-25: >$1mm USDC of initial deposits have been withdrawn from Maple to date. An additional $174K USDC and 434 MPL have been earned from interest. <$2.5M USDC is remaining in the position, and is continuing to earn interest in the form of USDC & MPL. [1:45m]
  • The entirety of the 373k CVX position was unlocked as of 0:00 UTC Thursday. [2:25m]
  • Going forward, both Treasury Tuesday and Gov Workshop will be hosted bi-weekly. This upcoming week will include Treasury Tuesday and DAO Office Hour on Wednesday. The following week will include DAO Office Hour on Tuesday and Gov Workshop on Wednesday, followed by another DAO Status Update on Friday. [2:40m]
  • Next week, JZ, Troy, Wes, and Deetz will be at DeFiCon in NYC. JZ will be presenting on a very important topic on Thursday. Stay tuned for a recap!  (Please DM deetz if you are in NYC and would like to say hello!) [3:10m]

Standup:

  • App UI enhancements have been deployed (see the “Auctions” tab). A more significant update is being tested in staging. [4:10m]
  • Ninja is continuing to receive updates, including the addition of new pools from which to source liquidity. [5:20m]
  • TxRelay is also continuing to receive bug fixes and enhancements. [5:55m]
  • Progress is being made on Compensation 3.0, and will be shared with the DAO pending internal review.
  • Earlier this week, the team discussed arbitration strategy with Kleros (see the recap). [6:15m]
  • During this week’s Gov Workshop, Jason hosted a reconciliation thought experiment to outline various governance edge cases. [6:40m]
  • Treasury Recap: [7:30m]
  • The Treasury Charter aims to create a framework for guiding the direction and vision of the treasury.
  • The Establish a Testing Wallet KIP will allow the team to internally test the protocol with live stablecoin funds, but not expose the treasury to directional market risk.
  • A Bancor Proposal seeks to withdraw liquidity from Bancor, and instead utilize different strategies such as Tokemak.
  • The Non-Core Asset Discretion Proposal gives the team the flexibility to manage assets worth <$100k without requiring cumbersome governance processes.
  • The Optimism Proposal seeks funding from the Phase 1 Optimism Governance Fund in order to bolster L2 development efforts.
  • The DAO also discussed the status of our CVX position (see the recap). [7:50m]
  • The team has scheduled more DePFOF presentations for next week, and is continuing to see very positive reception from interested parties, who are excited to build for the Rook protocol. [8:40m]
  • This week’s DAO Office Hour featured a lively discussion about the DAO, community-building, and socializing. [9:20m]

Upcoming:

  • Stay tuned for the DeFiCon presentation by JZ.
  • Treasury will restart the Maple withdrawal cooldown to align with projected repayments.
  • Treasury Tuesdays will continue at the normal time.
  • DAO Office Hour will be hosted on Wednesday.
  • There will not be a DAO Status Update next Friday due to the DeFiCon conflict.

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