Community Call Governance Workshop - November 9, 2022
In this Gov Workshop, the team hosted the first DAO retrospective to discuss lessons learned from past KIPs.
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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!
To participate in the calls and ask any questions you may have, join our Discord!
Housekeeping:
- KIP-28: The Treasury Charter, which will act as a “North Star,” is up for vote on Snapshot.
- KIP-39: The Streamlined Tokenomics proposal, an effort to align Rook’s tokenomics with the preferences expressed by users and partners, is under Sophon review, as is KIP-33 on Alchemix staking.
- Two additional KIPs on the forum are in draft stage and open for comments:
- Replenish Discretionary Investment Limit Funds
- Deploying Additional ETH for Yield Generation
Governance Retrospective [3:00]
The retrospective segment is an opportunity for the DAO to discuss the lessons learned from past proposals.
- KIP-17: Provide a Coordination Facility for GMX: This proposal was designed to dedicate engineering resources to build out an Oracle Extractable Value mechanism in collaboration with GMX. This would relay price oracle updates through the KeeperDAO Coordination protocol, internalizing the value for the GMX protocol on both Arbitrum and Avalanche. The team discussed the history of this proposal, reflecting on lessons learned surrounding the timeline and communication of this integration and how it impacted Rook. The integration was successful overall, though its primary benefits (as described in Rook’s Q3 report) may have been in laying the groundwork for Rook’s upcoming transaction relay. Lessons learned from this early KIP include a need for alignment of expectations with the community around integration timelines, expectations, and benefits.
- KIP-13: ROOK Buyback: [24:40] This proposal was designed to allow the treasury to utilize up to $4M in ETH and/or BTC to buy back ROOK to support several strategic objectives. While these objectives for the buyback were outlined in the KIP, they still diverged from the community’s expectations during a period of intense community focus on token price. This divergence highlights the need for the kind of improved communications the DAO has been implementing in recent quarters as the DAO has matured. Continuing to have more nuanced discussions rather than binary arguments allows for better decision-making.
- Looking forward, creating a strategy for acquiring ROOK without openly telegraphing the buyback is difficult, and thinking about the long-term health of the protocol is more important than generating exit liquidity.
Community Feedback Survey [45:20] - initial responses:
- An action item discovered during the community feedback process was the need to create an engagement point for expanding ideas and educating the community during the KIP development process.
- Other feedback items from surveys: providing additional mechanisms for KIP feedback before it goes to a vote; a more concrete roadmap timeline and five-year plan for the Rook DAO; and defining spending priorities (top areas include research, education, and community-based grants).
- Measures of success for revenue, engagement, integrations, branding, and yield could be further defined.
- Community objectives include further developing platform support, education, awareness cultivation, coordination with other ecosystem participants, and entrenching into protocols.
- Fill out the Community Feedback Survey in order to receive a POAP!