DAO Status Update DAO Status Update - November 4, 2022

In this DAO Status Update, the team discussed the just-released Q3 Report in detail.

DAO Status Update - November 4, 2022
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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

  • The Treasury Charter, which will act as a “North Star,” is working its way through the Sophon review process.
  • The Streamlined Tokenomics proposal is an effort to align Rook’s tokenomics with the preferences expressed by users and partners.

Quarterly Report [4:00]

  • The Rook Labs Q3 Report has been released!
  • The protocol is experiencing steady growth, and while there is no parabolic increase in new users or volume, the numbers are consistent with what we should expect given the market conditions and current building stage of the project.

Protocol Team [6:40]

  • The Coordinator, Ninja, and Relay are core technology to the protocol, and they have undergone significant upgrades over the past quarter.
  • Updates include a new swap contract featuring upgrades that offer significant quality-of-life improvements, including gas optimizations and a price decay feature. The team is looking for beta testers, so please reach out if you are interested!
  • The Relay allows organic DeFi order flow to integrate with Rook through an RPC endpoint. The labs team is stress-testing the product.[14:00]
  • The Cron Finance team is building a high-performance TWAMM that integrates with Rook in order to build MEV capture features.
  • The Ninja arbitrage bot saw a major refactor that improves compatibility with any Flashbots-style MEV relay, and an added ability to integrate with Balancer and Curve. [16:00]
  • The DEX aggregator Ninja facilitates auctions and helps support accurate pricing on the Rook platform. [19:20]
  • The operations team has also containerized services and implemented log aggregation through Datadog to improve observability.

Product Team [24:00]

  • The Product team is operating efficiently, and is consistently delivering updates to the Rook Trade app.
  • The Product team significantly upgraded the UI/UX of the Rook web app.
“In Q2, the Product Team shipped Rook Trade, built out and overhauled our team and tech stack, built a new backend that includes a dedicated database and API, and onboarded Linear to be an integral part of managing the team’s workflow. Throughout this quarter, the team’s focus was on improving each of the products shipped in Q2, and preparing for the larger upcoming protocol upgrade.”
  • The team has emphasized security and has successfully prevented attacks. [33:30]

Growth [34:40]

  • The Growth team is working on expanding the sales pipeline, and is focused on building partnerships with other protocols.
  • Part of this effort will be increased exposure at conferences.
  • The Market Maker Pilot Program and Keeper Pilot Program, which kicked off in Q2, offered ROOK rewards in order to kickstart the launch of the Rook Protocol.

Organization Team [43:30]

  • The Organization team focused this quarter on improving the legal and professional structure of the Rook organization without losing its identity.
  • The team also put together the first Rook offsite to provide a very productive in-person bonding experience.
  • The Compensation 3.1 All Weather Plan vastly improves contributor pay with a fair and simple compensation framework.

Community Team [47:30]

  • The team is striving to achieve more transparent communications. The partnership with Starbased has resulted in a huge improvement in record-keeping with summaries of every weekly event.
  • The Discord server is undergoing significant changes, including quality-of-life improvements, participation recognition, and a Q&A forum.

Studio Team [52:50]

  • The Studio team has made great appearances at conferences and on podcasts. Check out the recordings and teaser quotes on Rookbase.xyz!
  • Excellent groundwork has been laid for marketing campaigns with media partners in order to raise brand awareness through organic content.