Community Call Governance Workshop - November 30, 2022

This Gov Workshop focused on a brief review and discussion of each proposal draft between the authors and participants.

Rook logo and branding with white cubes; recap by Starbased
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!

Given the unusually large number of proposals on the forum in the draft stage, the workshop this week focused on a brief review and discussion of each proposal between the authors and participants.

Proposal Review:

  • Expand funding of testing wallet: Originally $600,000 was allocated to the testing wallet effort. Due to the success in generating yield, an additional $400,000 in DAI funding is being requested. [2:29]
  • 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. [6:44]
  • 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. [11:30]
  • 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. [15:36]
  • Updating Rook’s governance: This draft is an effort to build upon KIP-0 to further outline the responsibilities of the various participants in the governance process. [23:00]
  • More generally, given the market conditions, the treasury would like to position itself protectively, yet improve its ability to react quickly to market events and capitalize on profit-generating strategies with stablecoins and Ethereum derivatives.

Open Floor [25:40]:

  • The Rook team continues to plan marketing and growth strategies alongside phased releases of product updates. These plans include beta testing opportunities and early access for community members.
  • The team is planning to improve the focus of Office Hours and host game events with the community.