Community Call Governance Workshop - August 31, 2022

The DAO discussed in-draft KIPs, managing BTC holdings, and further defining the role of Sophons.

Governance Workshop - August 31, 2022
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Governance Workshop is a biweekly, open meeting where we discuss specific proposals that are in progress and workshop new ideas about Rook's governance process.

To participate in the calls and ask any questions you may have, join our Discord!

View the agenda for this event.

In Progress Proposals and Drafts

Forum

Upcoming

  • KIP-X2: Governance Process v2
  • KIP-X3: Sophon Framework
  • KIP-X4: Sophon Onboarding/Offboarding

Core Docs

  • The Rook charter/constitution, mission statement, and Sophon decision criteria are currently being drafted.
  • The governance documentation is in draft.
  • Unified forum changes are underway.

New KIP AMAs

  • This session incorporated a new feature: brief presentations and AMAs for KIPs currently on the forum.
  • Hazard and DaddyMatty joined to provide background on the proposal and to answer questions and concerns from the community.
  • 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]
  • KIP Draft: Voting and Participation Weights. Jason described the origin of this KIP in prior workshops, and its goal of formalizing governance voting rights and weights for holders of ROOK across various platforms. [23:00m]
  • The KIP is designed to make the weights tunable as the DAO’s conversations around staking and voting evolve (e.g., for xROOK holders).

Governance Process [31:00m]

  • Participants discussed the role of Sophons and the expectations that Rook has for their work – e.g., finding the candidates, defining time commitments and compensation.
  • The community tends to agree that an important qualification for a Sophon is deep knowledge of the Rook protocol.
  • Talented candidates should be incentivized to become Sophons, and this involves both a desire for Rook to succeed and an economic component either through funding, ROOK holdings, or other means.
  • Participants discussed how Sophons should be compensated – e.g., defining a base rate or monthly grants, paying in stables versus ROOK – and what percentage of total supply should be allocated.
  • How does the DAO define a “success state” for Sophons?
  • In order to gather input and refine the process, the workshop discussed testing a version of the process at a smaller scale of replacing individual Sophons seeking to offboard.

Open Floor [1:00:00m]

  • Above Average Joe brought up the following topics for the DAO to ponder for future discussion:

    “Reputation system: What is its place in the DAO, desirable metrics to capture and their tooling?”
    “Token gating: How much do we want? What goes behind the wall?”