Treasury Tuesday 7.5.22
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Treasury Tuesday calls are open-invite meetings to drive the strategy, risk management, and overall discussion for all aspects relating to the Rook DAO Treasury.
To participate in the calls and ask any questions you may have, join our Discord!
To participate in the calls and ask any questions you may have, join our Discord!
Recent Events & News
- The Rook treasury will be withdrawing from Bancor following the decision to turn off their impermanent loss mechanic and the ensuing liquidity issues that followed.
- The treasury team will also be withdrawing from Maple Finance in order to mitigate risk ($3.5mm USDC, $60-100K in MPL rewards).
Open Floor and Current Events
- Deetz noted that Wonderland proposal to invest $25mm into "Sifu's vision" has passed.
- The Q2 Report has been released.
- The Treasury Charter, the "North Star" of the treasury's vision, is open for collaboration.
- ETH deployment to staking derivatives is moving forward. Rocket Pool shares 200K staked ETH milestone.
- The stablecoin strategy, Optimism, and Bancor proposals should make it to the floor soon (via starfire).
- The Q3 Labs budget request will be made public soon.
- Strategic partnerships and M&A (mergers and acquisitions) will be potential areas that the treasury will look to deploy funds towards.
Stablecoin Deployment
- Cameron from Notional: Notional differentiates itself from the competition by offering fixed-rate lending and borrowing. Could be appealing to Rook due to this stability on returns and no counterparty risk.
- The treasury team is still in the R&D phase of researching opportunities.
- 75% of ETH is being deployed for yield. The team believes stablecoin deployment should be more conservative.
- Deploying assets outside of Ethereum L1 needs a risk assessment. Unlikely to be worth the risk/reward trade-off.
- Low-risk core of DeFi blue chips, with a smaller percentage in newer, higher risk opportunities.
- Proposals should also research which stablecoins the treasury should hold a position in.
Wrap-Up
- Q3 Labs budget is in the final stages.
- In Q2, the Labs team came in under-budget in both ROOK and USDC. Only around half of USDC and one-third of ROOK were needed, so the team is in surplus.
- Multiple proposals (Optimism, Bancor, and stablecoin) will be dropped soon.
- Governance Workshop at 3PM EST tomorrow!