This week's Status Update provided progress updates from the Rook Labs teams including protocol upgrades, Discord improvements, and plans to present at ETHDenver.
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!
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.