Rook fairly redistributes MEV to the users, protocols, and smart contracts that generate it.
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- Likes 698
Pinned Tweet
This account is no longer in use following the no-objection vote on KIP-44
Read more here 👉 bit.ly/41RUJxH
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Ever wondered how a billion dollar wallet trades on-chain?
This thread follows one anonymous whale through a complex $110M trade, and boils everything down into strategies that can help you guys save on gas and get better execution.
🧵 🐳
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Take your arbitrage, liquidation, and tailgating operations to the next level with arbitrage mining. Not only will you be rewarded for the hard work that you’re already doing, but you’ll be participating in the very first trading pool on Ethereum.
link.medium.com/adP0kLNS9ab
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ROOK takes Knight. Knight takes ROOK.
The KeeperDAO treasury has completed a token swap exchanging 534 ROOK and 500k USDC for 500,00 KNC. @loi_luu joins as an advisor. Look forward to exploring the middle game with @KyberNetwork.
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1) The idea behind KeeperDAO is to maximize profit for DeFi users and searchers (keepers), rather than miner profit. The role of a miner in a blockchain system is to secure the network. However, miner involvement in MEV encourages consensus instability.
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Introducing kCompound: phase two of the Hiding Game medium.com/keeperdao/introdu…
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1/ As we near the end of the Liquidity & Arbitrage Mining program, we are introducing KeeperDAO’s forthcoming developments to the community. medium.com/keeperdao/let-the…
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Here is a first look at the upcoming Coordination Game's economics and the role of $ROOK within the ecosystem:
docs.keeperdao.com/reference…
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♟️The Hiding Game is now live ♟️ app.keeperdao.com/trade
The Hiding Game is the first of three games we are building, and refers to the cooperation between users and keepers to “hide” MEV by wrapping trades/debt in specialised on-chain contracts. These contracts restrict profit extracting opportunities to KeeperDAO itself.
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Now that KIP-7 has passed, KeeperDAO will be working directly with the @OlympusDAO team to join the first round of cohorts of their newly launched bond program.
What does this mean for KeeperDAO?
Thread ⤵️
(1/5 🧵)
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If you want to trade institutional size on the blockchain, you need to be using @Rook. If you’re a regular trader, come use what the professionals use, it’s easy.
✅ MEV protection
✅ Free, no gas or fees
✅ Aggregated liquidity
✅ Price improvement
app.rook.fi
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1) Miners are capturing the majority of value that arise from on-chain arbitrage. In the past, this MEV has mostly been accruing to them via gas wars. Going forward, we will be seeing miners extract that profit directly.
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How many Rookies are also Ohmies 🤔 @OlympusDAO
forum.keeperdao.com/t/kip-dr…
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Coinbase Custody now supports $ROOK ♖
.@Coinbase Custody now supports @iEx_ec $RLC, @AlphaFinanceLab $ALPHA, @quantnetwork $QNT, @diadata_org DIA$, @Chromia $CHR, @Keeper_DAO $ROOK.
custody.coinbase.com/assets
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My double $rook attack keep cemetaries packed
Of keepers who think it ain't like that
Villains are gunned down like being run down with mad trucks
The gas struck, blundered, then you call it bad luck
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Impressive.
Very nice.
Let's see Paul Allen's $rook.
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tl;dr
A whale opened 3 orders for around $10M each on @1inch, @matchaxyz, and @Rook.
They got rekt on 1inch, got by with Matcha, and got paid on Rook
They sent the next $70M through Rook.
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Today, we’re thrilled to announce the public launch of the Hiding Vault, the Just-In-TIme-Underwriter, and kCompound, which together make the most advanced lending protocol in crypto. medium.com/keeperdao/hiding-…
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Introducing our roadmap for ACT III: Decentralisation
medium.com/keeperdao/keeperd…
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Working on the May development update, roadmap, governance and kCompound. Potentially promising.
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Welcome to the team @NathanWorsley_!
Sandwich trading is a lot of fun, but it's not risk free. A writeup of my recent alpha discovery: "Salmonella"
github.com/Defi-Cartel/salmo…
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A great paper shedding light on the MEV extraction DeFi users are exposed to via front-running/back-running/sandwhich attacks and more. What if there was a way to redistribute these gains back to users?
arxiv.org/pdf/2101.05511.pdf
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Today, KeeperDAO and @WOONetwork are happy to share news of a budding and symbiotic relationship.
This relationship will be ribbon-cut with ROOK trading going live on Woo X @ 6 AM UTC (in 1 hour)!
Read more about our collaborations:
blog.keeperdao.com/woo-keepe…
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♖♖♖ KeeperDAO v2 is here ♖♖♖
What's new:
• New Visual Brand Identity (more soon..)
• New app UI
• Upgraded DEX functionality
• New LP interface
• Upgraded Wallet information
Your move: app.keeperdao.com
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Catch up on all the breakthrough new tech and tokenomics released by the @Rook Labs team this week.
Then try it yourself - app.rook.fi
blog.rook.fi/rook-trade/
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Coordination is coming... if you are an experienced trader, market maker, or liquidator and have not already reached out to join the KeeperDAO Coordination Game and Hiding Game, send us a DM or reach out on Discord to discuss onboarding.
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1/ We’re (@talosystems, @ambergroup_) introducing KeeperDAO, an on-chain liquidity underwriter for DeFi.
medium.com/keeperdao/introdu…
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kip-4 • use 100% of revenue (~$200,000 a week) to buy back and burn $rook?
now live for voting; if it passes, we start burning next week
snapshot.org/#/rook.eth/prop…
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Check out our April Development Update to see what the team has been up to!
medium.com/keeperdao/april-d…
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Introducing KeeperDAO Governance:
A novel & minimalistic DAO governance model that aims to dissolve friction and increase efficiency
blog.keeperdao.com/introduci…
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Keepers/arbitrageurs analyze the Ethereum mempool to dramatically increase the odds of capturing profit. Here we provide a performance benchmark on various mempool service providers. See how they stack up:
medium.com/keeperdao/a-perfo…
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Locked and caged in
We're sworn representatives, reacting like made men
Strive for wives, nine lives and lies
Max buy and enjoy the highs, what
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KIP-5 has completed the 72-hour reconciliation period with no objections, meaning it has officially passed! What does this mean for KeeperDAO? Let's take a look below⤵️
(1/7)
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How do you trade on-chain in high volatility?
This thread follows one unlucky trader whose $15,000 mistake was rescued by the @Rook protocol, even though they were trading somewhere else!
You can learn a lot from others' mistakes, take a look.
🧵↓
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The mid-game is all a setup for double rooks.
Today, we take the first steps towards decentralised governance, allocating grants for community projects and introducing our first community ambassadors.
Join the discord and read more here: discord.gg/DN6X4FXm9v
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As part of this transition, the following Rook channels will also undergo a phased sunset:
rook.fi
Rook Trade App (app.rook.fi)
xROOK Staking
The team is evolving to continue its mission to build efficient and safe marketplaces for blockchain users.
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.@Quantstamp recently completed its audit of our new product, kCompound.
Many predators lurk in Ethereum’s dark forest 🌘🌳
Learn how KeeperDAO hides miner extractable value (MEV) by creating games that ensure users, bots and protocols stand more to gain by cooperating than competing ♖ ♜
quantstamp.com/blog/mev-ethe…
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Catalog, a revolutionary new cross-chain trading system secured by the power of Ren, is coordinating with KeeperDAO.
blog.keeperdao.com/p/6072769…
🧵⤵️
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This article introduces our native token, ROOK, its role in the protocol, and the initial ecosystem rewards program, which begins on November 3 UTC 07:00!
0xkeeperdao.medium.com/caro-…
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“You must take your opponent into a deep dark forest where 2+2=5, and the path leading out is only wide enough for one.”
- Mikhail Tal
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The Hiding Game is the first of three games we are building, and refers to the cooperation between users and keepers to “hide” MEV by wrapping trades/debt in specialised on-chain contracts. These contracts restrict profit extracting opportunities to KeeperDAO itself.
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1) Arb-mining is a new and experimental form of token distribution on top of liquidity mining. We can think of aggregate keeper proceeds as the implied acquisition cost of emitted ROOKs to keepers, similar to thinking of the opportunity cost to LPs as token acquisition costs.
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9) KeeperDAO is needed to align the rewards of MEV with the value creators. From the perspective of the users and searchers, KeeperDAO redistributes this MEV back to their pockets.
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The May Development Update covers what the core team and our amazing community has been up to!
medium.com/keeperdao/may-dev…
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1/ We have completed a contract upgrade.
Make sure to hard refresh your browser and clear your cache before interacting with app.keeperdao.com/
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Today marks one year since the launch of ROOK. Thank you to everyone who has been a part of this journey. We cannot wait to see what year two brings!
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Patch Notes
- Coordination Engine is now live
- KeeperDAO is now Rook
- $ROOK is now deflationary
- Every trade on app.rook.fi now gets you $ROOK from MEV
- You can now stake your $ROOK for more $ROOK in the app
blog.rook.fi/introducing-roo…
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Hey Solidity devs!
KD Labs is excited to introduce our first Solidity challenge, kAave! If you have Solidity chops, check it out. Prizes totaling 40 ROOK accompanied + an opportunity to interview to join KeeperDAO full-time.
github.com/keeperdao/kaave
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“In the medieval shatranj, the $rook symbolized a chariot. The Persian word rukh means "chariot", and the corresponding piece in the original Indian version, chaturanga, has the name ratha (meaning "chariot").”
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Our compound-backstop bot took its first liquidation today. Watch for kCompound to be launched later this month!
etherscan.io/tx/0x11bf37fef7…
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The treasury has now crossed $1,000,000 in keeper proceeds!
app.zerion.io/0x9a67f1940164…
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All keeper-generated yield now feeds into a new multi-sig which has accrued >$136k in earnings at a current run rate of ~$40k/day. The Incentive Game will give $ROOK holders governance over these funds.
We have now added liquidity to the ROOK<>ETH Uniswap pool. We are also redirecting all future keeper profits into a new multi-sig. Eventually this will be moved to the treasury controlled by ROOK governance. This will take effect within the next 24 hours.
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KIP-4's first weekly buy back and burn was completed 3 hours ago...
1,192.4 ROOK (~$345,000 USD) ripped out of supply and sent to the inferno
etherscan.io/tx/0x7eeac9d2ae…
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7) KeeperDAO is not a competitor to FlashBots, and in fact, potential integration is an ongoing discussion.
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1) By incentivizing collaboration, KeeperDAO is able to avoid the wastefulness of gas wars, and maximize profits for everyone involved.
And for those that do not cooperate, its grim-triggering strategy is guaranteed to erase all profitability.
medium.com/keeperdao/gas-gam…
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Introducing KeeperDAO Act IV: Coordination
blog.keeperdao.com/act-iv-co…
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Current LPs are earning between 40-55% APY on app.keeperdao.com. There is a deposit fee of 64bps, aimed incentivizing sticky liquidity / disincentivizing pool hopping. This fee goes to existing LPs pro rata to their pool ownership, on top of $ROOK distributions.
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New ATH number of user orders filled through the Hiding Game in a day, with 321. Over $12mm of trading volume.
We have just deployed a new more gas-efficient trading contract.
Trade today at: app.keeperdao.com/trade
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Another 682 ROOK (~$200,000) has been bought back and burned from KIP-4.
That's a combined 1874 ROOK burned in the last 6 days.
Let it burn.
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In less than 24 hours, over $30,000,000 worth of assets are being protected by the Hiding Vault.
Start protecting your loans, and earn $ROOK in the process 👇
app.keeperdao.com/vaults
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so @Tetranode is on board, are you?
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KIP-2 has taken effect as of block 13468134, slashing Hiding Vault emissions 75%!
Yes, that means over 1200 ROOK will be taken out of circulation per week.
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8) However from an ethical/philosophical point of view, there is 0 reason miners deserve to extract this value they play no part in creating. This value should accrue to the creators/users and searchers. We can not reduce MEV, but we can redistribute it.
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In total, the whale executed over $80M of volume through app.rook.fi, ~20% of on-chain ETH-BTC volume for that day.
Despite this massive size, they received laser-accurate execution, and paid nothing for it. In fact, they received ~$60,000 of price improvement.
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KIP-4 has officially passed.
100% of new revenue will be used to buy $rook off the market.
Probably nothing.
kip-4 • use 100% of revenue (~$200,000 a week) to buy back and burn $rook?
now live for voting; if it passes, we start burning next week
snapshot.org/#/rook.eth/prop…
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KeeperDAO Governance is now live! Everybody now has the chance to help steer, grow, sustain, and manage KeeperDAO.
Join us by drafting or commenting on KIPs and sharing your ideas in the Discord and our Governance Forum. The future is in your hands!
forum.keeperdao.com/
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The whale instantly lost $250,000 to slippage on their $12M order, despite the fact nearly half of it was routed directly to @wintermute_t OTC by @1inch.
Say goodbye to that McLaren Artura or Porsche 911 GT3. Whoops.
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We have surpassed $100,000,000 in total assets being protected in Hiding Vaults.
Migrate your position from @compoundfinance, or open a new position using our app.
app.keeperdao.com/vaults
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2) The 'M' in MEV is an accident; an unintended byproduct of Ethereum's consensus design. Miners contribute nothing of value to DeFi. They don't build or manage the protocols, they don't submit the MEV-creating transactions, they dont' do the engineering of finding MEV.
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In Chess, castling is the only way in which a player can move two pieces at the same time. By doing so, it moves the King to a safer position, and moves the rook to a more active position. If DeFi is chess, then liquidators/keepers are Rooks.
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Look at that subtle off-green coloring. The tasteful glimmer of it. Oh my God, it's even spinning
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