Community Call Governance Workshop - November 30, 2022

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.