DeFi protocol Rook can't talk about its roadmap, its CEO says. That has created tension for the DAO that is supposed to run it. realDannyNelson reports
Decentralized finance protocol ROOK seems to get more attention these days for its multimillion-dollar crypto treasury than its progress in its actual business of building tools for the Ethereum blockchain. That’s sparked dissent from some of its token holders – and on Thursday a response from the CEO.
“We’re bound by the will of the order flow providers,” Hazard said of those who want to use ROOK to capture transaction value – aka maximal extractable value, or MEV – on Ethereum. “They’re the customer, and the customer is always right.” ROOK’s token has gone largely sideways this year even as many other crypto assets have rallied hard. Still, it was trading around $15.71 at press time, up nearly 12% in 24 hours.
But the DAO has had little operational say recently in what ROOK’s been doing – or even transparency into what ROOK’s management has been doing. Hazard acknowledged this on the call and blamed it on the “large projects” interested in using ROOK: “their constraints are what's causing us to be a little bit more gagged about what we can talk about.”
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