Community Call Treasury Tuesday - August 9, 2022
The Treasury team reviewed proposals, discussed the impacts of The Merge and the recent Tornado Cash sanctions, and detailed the upcoming Treasury Management Framework.
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Treasury Tuesday calls are open-invite meetings to drive the strategy, risk management, and overall discussion for all aspects relating to the Rook DAO Treasury.
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!
View the agenda for this event.
News [0m]
- The Bancor proposal passed unanimously.
- The Liquidity Improvement Proposal is looking at Uniswap and Sushi as additional venues for liquidity.
Pending Proposals [1m]
- The Treasury Charter aims to create a framework for guiding the direction and vision of the treasury.
- The Establish a Testing Wallet KIP will allow the team to internally test the protocol with live stablecoin funds, but not expose the treasury to directional market risk.
- The Non-Core Asset Discretion Proposal gives the team flexibility to manage assets worth <$100k without requiring cumbersome governance processes.
- The Optimism Proposal seeks funding from the Phase 1 Optimism Governance Fund in order to bolster L2 development efforts. Optimism may be altering their funding process to ensure fairness, so this proposal is on hold while they settle this behind-the-scenes.
Ecosystem News [7m]
- The Ethereum Proof-of-Stake merge is imminent, with the merge of the final testnet (Goerli) due to be completed on August 12th. Attempting to trade/profit from the mainnet merge is high risk, low reward, and it’s likely best to sit it out.
- Tornado Cash was sanctioned by the US Government, with USDC blacklisting associated addresses. There is some concern regarding the risk of holding USDC and second-order consequences, so the team is discussing whether to rebalance into alternative stablecoins. The Treasury team does need stablecoin exposure in order to compensate contributors with low volatility. The best course of action is likely to diversify into multiple options.
Open Floor [16m]
- The Dune dashboards are continuously being updated; please provide feedback to stubbs!
- Claimed Rewards
- Maple Pools
- Rook Order Distribution
- Rook Ecosystem
- ROOK Token Liquidity
- Lending markets and venues such as Tokemak and Euler are potential strategies for improving liquidity. However, directly providing liquidity to Uniswap and Sushi is necessary for short-term improvement.
- Improvements to tokenomics are being explored.
- CVX strategy will be played under-the-radar.
Treasury Management Framework [30m]
- The Treasury Management Framework is being developed, with a comprehensive skeleton (see the agenda for more detail). This includes investment strategy, risk management, and monitoring.
Stablecoin Strategy
- There is an opportunity to integrate with mStable, and become an early depositor.
Upcoming
- The next Treasury Tuesday meeting (Aug 23) will include a discussion on tokenomics.