DAO Status Update Rook DAO Status Update - July 8, 2022

Intro & Major Rook Updates

• We are retiring Town Halls in favor of the new Rook DAO Status Update. The new structure will allow for better and more efficient communications between Rook Labs and the DAO.
• Five End of Quarter events have been posted and summarized on the Rook Blog.
• The Q2 Report has been published.

Treasury Recap

• Recent Treasury Tuesdays: June 28th, July 5th.
• Maple Finance withdrawal (KIP-25) has been approved. Funds are being withdrawn pending the 10-day cool-down period and funds availability.
• Compensation 2.5 has rolled out as a two-month interim solution before 3.0 is finalized.
• Stablecoin deployment is in progress, but rolling out slower than expected due to risk mitigation assessments.
• Q3 Labs budget is in the late stages of formation.
• Bancor withdrawal and non-core asset proposals are underway.
• A proposal for establishing a transparent wallet for internal testing of product strategies has been introduced.
• A proposal has been introduced on the Optimism forum for Phase 1 funding.

Governance

• Recent Gov Workshops: June 29th, July 6th.
• The focus of recent Gov Workshop calls has been KIP-21.
• The DAO is continuing to work on the revamped Sophon process and onboarding.
• The team has been interviewing products and vendors for governance analytics and tracking.
• Testing Discord <> Discourse automations to persist comments across platforms.

Organization & People Ops

• Compensation 3.0 progress is being made. Expect more internal discussions before bringing it to the DAO in the coming weeks.
• Regulatory and legal frameworks are being developed, along with an enhanced grants program.

Studio

• The content team has partnered with Starbased for event recaps.
• The Rook Narratives presentation will be made public in the coming weeks.
• Additional podcast opportunities are in the pipeline as the team pitches to bigger names.
• The Studio team will produce more audiograms to share on social media.
• A website revamp with more data-driven content is in development.

Operations & Growth

• A DAO is already looking into integrating limit orders into their dApp. Agreement and announcement coming soon.
• The Rook Transaction Relay product is getting feedback from infrastructure integrators.

Engineering

• High productivity from the protocol team developing Ninja, Coordinator, and Transaction Relay.
• Improved DevOps processes, including increasing security for the API, using Datadog for improved logging, and Frill for customer feedback.
  

Outstanding Gov Proposals

• KIP-26 will extend the leadership team’s powers for an additional two quarters.
• Concerns may be addressed by superseding KIPs that may amend the powers granted in KIP-26.