Community Call DAO Status Update - December 9, 2022

Housekeeping

• KIP-36 - Expand Funding and Strategies of Testing Wallet: Originally $600K was allocated to the testing wallet effort. Due to the success in generating yield, an additional $400K in DAI funding is being requested. [1:00]
• KIP-37 - Discretionary Swapping of Like-Kind Assets: Currently, the treasury must go through the slow governance process to swap like-kind assets. This proposal would mitigate risk by giving the treasury the discretion to swap between stablecoins, Ethereum/ETH derivatives, and Bitcoin/BTC derivatives. [1:30]
• KIP-38 - Replenishing Discretionary Allocation Fund: This gives the treasury the ability to quickly react to and take advantage of market opportunities in a non-public manner. This proposal would replenish the cap to the lesser of $5M or 5% of the treasury’s notional value. [1:45]
• KIP-39 - Deployment of Additional ETH for Yield Generation: The ETH yield generation experiment has been successful, so there is a desire to increase the limit to 80% of idle ETH. [2:15]
• Budget Memo - Reimbursement has been made to the CTO for infrastructure costs.
• The Streamlined Tokenomics proposal is being discussed by Sophons.

Product [4:15]

• The Product team continues to build out UI design improvements, including the TxRelay “Starlight” update.
• An enhanced Price API is underway, which will offer very accurate onchain pricing information.

Protocol [5:40]

• The protocol upgrade contract is in the final stages of audit.
• Work continues on unit and end-to-end tests and improving gas optimizations.
• Improved documentation is being written for these product updates, as well as for onboarding and general education.
• Coordinator improvements continue, including partner rewards and TxRelay integration.
• Additional monitoring and observability tools are being used to debug and generate useful metrics.

Operations [8:50]

• The Organization team is working on benchmarking the new compensation framework.
• Survey feedback is being used to understand and improve the Rook workplace.
• The team continues to professionalize the organization’s operations through legal entities and service-level agreements (SLAs).
• Continued progress is being made on the Sophon on- and off-boarding process.

Studio [11:10]

• The Studio team is producing content, including a Bankless DAO op-ed and website copy and design work.
• The team is considering studios to create video tutorials and explainers.
• The team is also performing market research on products related to Rook, such as nodes and relays.

Treasury [12:40]

• The Treasury Charter, which aims to create a framework for guiding the direction and vision of the treasury, has been adopted!

Growth [14:00]

• The Growth team is continuing conversations with potential partners for the TxRelay product to further understand their perspective and needs.
• The team built out an informational searcher hub to help teams integrate with the Rook protocol.
• Rook will be attending and presenting at ETHDenver in March, including side events and swag.

Community [15:40]

• The Community team has implemented numerous Discord updates, including support tickets, token-gated channels, and opt-in roles.
• The team is planning to host an end-of-year community event. Stay tuned for an announcement!

Looking Ahead [17:00]

• The upcoming Treasury Tuesday (Dec. 13) will feature another guest panel.
• Community tipping will be introduced soon.