kip: 39 title: deployment of additional ETH for yield generation category: treasury investment author: @DaddyMatty (email@example.com) status: Sophon review created: 2022-11-14 replaced-by: none replaces: none dependency: KIP-24
This document proposes that Rook DAO increase the maximum units of ETH allowable to be deployed across three liquid staking protocols for yield generation as outlined in KIP-24  by an additional 1,465 units of ETH (“Additional Units”).
As of November 8, 2022, the Rook DAO Treasury holds a total of 11,750 ETH and ETH equivalents . These holdings can be broken down as follows:
|Asset||Units||% of Total|
Once adopted, KIP-24  authorized the deployment of a total of 7,934 ETH across three liquid staking providers. Additional real-time details on these positions can be found on our ETH staking dashboard . The following schedule presents the maximum amount of ETH approved to be deployed across the liquid staking providers against what has been deployed thus far:
|Protocol/Product||Max Amount Approved (Units)||Amount Deployed To Date (Units)||Remaining to be Deployed (Units)|
This document proposes deploying an additional 1,465 ETH or WETH on top of what is remaining to be deployed as outlined above. The following schedule presents the total amount of ETH to be deployed upon adoption of this proposal:
|Protocol/Product||Remaining to be Deployed (Units)||Additional Units||Total ETH to be Deployed (Units)|
This would raise our total deployment maximum to 9,400 units which equates to approximately 80% of our total ETH and ETH equivalents in our Treasury as of November 8, 2022.
The following contributors would represent the Official Team:
- @DaddyMatty - Finance Lead
- @JZ - CTO
- @WhatsTheDeetz - Growth Lead
This proposal establishes that the Official Team is responsible for the execution and monitoring of the staking investments articulated in this proposal, subject to oversight by and reporting to the Rook DAO as established below.
The analysis supporting this proposal relies on the research and analysis as performed in KIP-24 . No changes or updates have occurred that are material enough to warrant a reevaluation of any of the protocols and products as presented in that KIP.
For detailed information on the net position and performance of our current staked positions, please view our dashboard .
Execution and Management
Actual execution to deploy these funds will be performed by the Treasury Multisig (0x9a67f1940164d0318612b497e8e6038f902a00a4) and the trading execution wallet (0xa41164009fa1021ac3cff34813e461ca445d0712). The treasury will make its best effort to begin deploying these funds within 120 days of adoption of this proposal, consistent with its ongoing commitment to minimizing the risk of market speculation and front-running Upon completion, an update will be announced on Discord and Twitter with the full transaction details.
Position Maintenance and Unwinding
All actions around position maintenance and unwinding of these positions will adhere to the requirements and standards as outlined in KIP-24 .
Stake an additional 1,456 ETH or WETH into Stakewise, Rocket Pool and Lido in amounts described above
Treasury Multisig (0x9a67f1940164d0318612b497e8e6038f902a00a4) to the trading execution wallet (0xa41164009fa1021ac3cff34813e461ca445d0712) to deploy assets to and make best effort to do so within 120 days of adoption
Official team to report monthly to community along with real-time dashboard updates