DAO Status Update DAO Status Update - August 19, 2022

The Rook team outlined the DAO events from the past two weeks, including in-progress KIPs and department updates.

Rook logo and branding with blue chess piece; recap by Starbased
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.

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The Rook team outlined the DAO events from the past two weeks, including in-progress KIPs and department updates.

Treasury [2:45m]

  • KIP-5: Unlocked CVX has been withdrawn. Two thirds have been staked (but not locked), and one third (93,000 CVX / 308 ETH) sold and returned to the treasury.
  • The first tranche of assets (1,587 ETH) has been sent to the market maker in order to acquire staked ETH assets via Rook Trade limit orders.
  • As an expansion on KIP-19, the last batch of WETH has been withdrawn from the Rook liquidity pools as part of the plan to sunset these pools.

Engineering [5:30m]

  • The product team has released major upgrades that have improved the speed and functionality of the dApp. Please provide feedback via the Frill icon on the app page!
  • Continued upgrades to Ninja are being released, including Curve Pool support and implementation of the TxRelay feature. [8m]

Operations [8:30m]

  • Rookbase.xyz has launched as part of the partnership with Starbased, providing a hub for recaps of DAO events and community content.
  • TalentLyft is now being used for recruiting, which will streamline the hiring process.
  • Comp 3.0 is continuing to be drafted and is under internal review.

Governance [10:00m]

  • This week’s Gov Workshop provided in-depth discussions on Sophon onboarding, staking and voting, and fast-track proposals.
  • DEX integrations (under wraps) [11m]

Treasury [10:30m]

Growth [11:00m]

  • Many biz-dev efforts are in the pipeline, including discussions with DEXs, aggregators, privacy protocols, and market markers. Information will be announced once the details are finalized.

Looking Ahead [12:30m]

  • The Maple withdrawal period is upcoming, but dependent on borrower repayments. The remaining $2.5M deposit will hopefully be able to be withdrawn soon.
  • Testing Wallet strategies are being developed.

Open Floor [15:00m]

  • Aia brought up the ongoing situation with the SEC cracking down on tokens that could be deemed securities. The events of the past few weeks, including the censoring of Tornado Cash, have raised a lot of uncertainty about the proper approach for teams to take with regard to tokenomics and protocol operation.
  • Above Average Joe shared an announcement of the open sourcing of an MEV bundle generator.
  • Schedule reminder: Treasury Tuesday and Gov Workshop are now bi-weekly, with Office Hours taking place in the interim weeks.