DAO Status Update DAO Status Update - September 2, 2022

In this call, Wes provided a quick summary of DAO activities from August 20 through September 2.

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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  • KIP-5: The full CVX position has been exited.
  • KIP-24: The first tranche of staked ETH has been acquired.
  • KIP-29: The Non-Core Asset Discretion proposal has passed.
  • KIP-30: The Establish a Testing Wallet proposal has passed.
  • A new Discord treasury bot has been deployed. (Use the “!treasury” command in Discord to invoke the bot).

Product Team [2:00m]:

  • The UI design for the new swap protocol is being developed.
  • Auction filters and other enhancements have been released for the UI and API.

Protocol [2:45m]:

  • Milestone: the new swap contract testing on mainnet is imminent.
  • TxRelay partnerships and integrations are in discussion.

Operations [3:20m]:

  • There is continued progress on Compensation 3.0. The team is continuing to iterate.
  • The first draft of full-time contributor re-leveling is in progress.
  • The team has conducted an internal survey of keeper tests (moving recently hired full-time contributors from interim to permanent status).

Governance [4:00m]:

  • This week’s Gov Workshop featured continued discussion on Sophon onboarding and responsibilities.
  • KIP Draft: Convert renBTC to WBTC. The proposal is not a referendum on Ren, but rather a decision about risk management and liquidity given the rapidly changing environment. The deeper liquidity of WBTC offers an advantage in the event that regulatory or other developments necessitate the ability to unwind the position quickly. [3:45m]

Treasury [4:45m]:

  • The Treasury Management Framework is under Sophon review and receiving final edits.
  • The team has modeled Compensation 3.0 runway and is continuing to work on details of the plan.
  • In-progress items: liquidity position dashboards; KIPs for ALC position; revised budget proposal; Optimism proposal & testing wallet dashboard; labs activity financial dashboard; in-depth L2 research; and early M&A concept development.

Growth [5:35m]:

  • Meetings continue with infrastructure providers for TxRelay.
  • Conversations continue with DEXes for limit order integrations.
  • There is a continued push for native wallet app integrations.

Operations [6:00m]:

  • Stop by the DAO Office Hour every other Tuesday and Wednesday!
  • There are conversations with external teams regarding Discord onboarding enhancements.

Open Floor [6:30m]:

  • Please review, comment, and support the Optimism grant proposal.
  • Above Average Joe opened a discussion on “what it means to be a Rook community member” and the weighting of various forms of ROOK holdings. Feedback for the DAO is encouraged.