<aside> ✨ Welcome!

This quarterly report documents the major focuses, activities, and results of Rook Labs over the third quarter of 2022, that is, the period from July 01 to September 30, 2022. It is intended to serve as a vehicle for discussion and insight with all members of the Rook DAO and the wider blockchain industry.

Last quarter’s report:

Rook Labs Quarterly Report 2022-Q2

Contact us: Visit us on Discord: **https://discord.gg/rook** Follow us on Twitter: **https://twitter.com/rook**

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<aside> ⚖️ DISCLAIMER

*Any and all statements about the future of the project or any other forward-looking statements (identified by words including, but not limited to, ‘goal’, ‘projection’, ‘objective’ etc) are subject to assumptions and other factors which may or may not limit the extent of actual results; no forward-looking statements are intended to be relied upon, and are not offered as advice (financial or otherwise). Examples of assumptions and other factors outside our control having a material impact on actual results achieved include (but are not limited to):

Rook undertakes no obligation to publicly update or revise any forward-looking statements made in the past, whether as a result of changes in actual results, changes in assumptions, other factors affecting such statements. Financial statements are prepared on the basis of modified accounting principles due to the experimental and nascent nature of DAO business enterprise and its formation. Deviations from established accounting standards or principles such as IFRS and GAAP are taken as deemed necessary according to professional judgment. These statements were prepared by internal DAO members, and such statements are not intended to be relied upon as advice (financial or otherwise).

Lastly, due to the quarter not being fully closed, this draft document may be inconsistencies or differences attributable to timing in prices or other factors*.

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Table of Contents

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0. Leadership update

<aside> 🧑‍🏭 Contributors hazard (CEO), JZ (CTO)

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The third quarter was a quieter one, as the team, community, and the industry as a whole settled into “build mode,” staying mostly heads down creating the future. In the second quarter, we launched the Coordinator, the first system for coordinating independent searchers to capture MEV on behalf of a user. Since then, the pressing need for this technology has only grown. The Ethereum merge, particularly the transition to proof-of-stake, and the introduction of proposer-builder separation (PBS), as implemented by Flashbots’ mev-boost, caused more people than ever to be thinking and learning about MEV. People began to seriously worry about centralization, and censorship-resistance, in ways not seen since the early days of MEV in 2020. But the landscape today is much different from the landscape two years ago. And in this new landscape, there is a greater need than ever for technology that aligns the interests of users and searchers.

There is no question that we have had more productive conversations with builders and potential partners in this quarter than in any other. The industry is moving towards us, and we are building as fast as we can to receive them, with a number of new technologies in the pipeline that are truly next-generation.

Through continued investments in R&D, our unique track record and deep experience at this layer of the MEV stack, we are now poised to provide the ecosystem with a rock-solid set of MEV building blocks that will safely and fairly unlock application-layer MEV at any scale. From the upcoming launch of the transaction relay, now codenamed “Starlight,” to the upcoming release of the new trading protocol, we are showing the power of iteration, with products that are one or even two generations ahead of other teams.

Alongside our technical progress, we are seeing continued progress in DAO communication and recordkeeping, with an emphasis on making discussions accessible to all. These were important pieces of feedback from the community, and something we committed to improving by the end of this quarter. Alongside these I want to acknowledge the steady efforts of the Operations teams to build a high-performance organization using only tools like Discord and Notion. It’s not easy.

As we transit the final quarter of the year, I know every contributor will be laser-focused on delivering our upcoming products with a bang, and starting the next cycle of work to make them even better. Look forward to it!


1. Protocol Metrics

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Q3 Stats

Total Orders Filled 2242
Total Volume $41,612,210.85
Total ROOK Bid 1993.89101
Total Staking Rewards 199.389101 ROOK
Total User Rewards 1595.112808 ROOK
Total Treasury Revenue 119.6334606 ROOK
Total ROOK Burned 79.7556404 ROOK

Stats to Date

Total Orders Filled 6696
Total Volume $344,077,280.52
Total ROOK Bid 8612.61
Total Staking Rewards 861.26 ROOK
Total User Rewards 6886.81 ROOK
Total Treasury Revenue 516.75 ROOK
Total ROOK Burned 344.51 ROOK

Users

Q3