This week’s DAO Status Update covers product updates and DAO activities from September 3-16.
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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This week’s DAO Status Update covers product updates from September 3-16.
Rook’s nodes were prepped in advance of The Merge, and are fully operational post-Merge.
KIP-24 - Second tranche (1,589 ETH) has been deployed to acquire stETH, stETH2, and rETH.
“This structure is an evolution of the philosophy of ‘Compensation 2.0’ but adapted to make it more tax-friendly for contributors, runway-friendly for the treasury, and DAO-friendly because it removes the potential for contributors to get grossly over- or underpaid. It also mitigates most of the compensation-related issues that have arisen over the past year.”
The new compensation plan more fairly calculates the ROOK strike price over a 30-day weighted average price.
The amount of ROOK compensation has been limited based on the contributor level, and to more appropriately balance stablecoin and ROOK value.
Runway is currently 3.8 years based solely on USDC holdings, and 8 years when including ROOK holdings.
The variables associated with determining fair compensation across the world are a huge challenge, especially factoring in the risks of DeFi and recent stablecoin uncertainty. But the team has risen to the challenge and developed the Comp 3.1 plan.