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Ok I couldn't resist myself...
OOOONNEEE more $Rook post.
Before i get into the REALLY cool shit i want to talk about, let me discuss the arb mining mechanics that were present during the initial distribution phase.
See this image, that's the keeperdao treasury.
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OOOONNEEE more $Rook post.
Before i get into the REALLY cool shit i want to talk about, let me discuss the arb mining mechanics that were present during the initial distribution phase.
See this image, that's the keeperdao treasury.
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For the first 3 months (just ending), "arb miners" were able to borrow 1 gwei from the keeperdao flash loan contracts and return the "loan" with "profits" attached, in the form of weth, eth, renbtc, dai, usdc.
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Why would they just give money to the keeperdao treasury?
Well, in doing so, they were given a pro rata share of ~1555 rook per epoch (~1 day).
Unlike many other coins with inflation, mining rook has a cost (like btc) and miners were incentivized by arbitrage (like btc)
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Well, in doing so, they were given a pro rata share of ~1555 rook per epoch (~1 day).
Unlike many other coins with inflation, mining rook has a cost (like btc) and miners were incentivized by arbitrage (like btc)
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Now that you have a little context on how this treasury was built to almost 25m in 3 months, let's talk about the good stuff.
The hiding game. Quarter 2.
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The hiding game. Quarter 2.
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Over the next 3 months, people using the hiding game will play into similar mechanics...
Whereas on other platforms, all mev goes to miners, hiding game users will get better rates and will be paid MEV in the form of rook, as the MEV is submitted to the treasury.
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Whereas on other platforms, all mev goes to miners, hiding game users will get better rates and will be paid MEV in the form of rook, as the MEV is submitted to the treasury.
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So you can actually think of Rook as tokenized MEV.
MEV goes to rook treasury in the form of eth, btc, stables, blah blah.... and the user is rewarded with this MEV in the form of Rook tokens.
You literally are paid to trade.
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MEV goes to rook treasury in the form of eth, btc, stables, blah blah.... and the user is rewarded with this MEV in the form of Rook tokens.
You literally are paid to trade.
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Whereas arb miners competed for their share of 1555 Rook / day (epoch), hiding game participants will compete for their pro rata share of 1088 Rook / day.
Just like the initial distribution phase, this Rook doesn't just appear out of nowhere... it has a mining cost.
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Just like the initial distribution phase, this Rook doesn't just appear out of nowhere... it has a mining cost.
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This mining cost increases or decreases on a day by day basis dependent on the amount of MEV routed into the treasury.
As the hiding game gains adoption / more mev is captured, the mining cost for rook will increase substantially and the price "floor" of rook should rise.
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As the hiding game gains adoption / more mev is captured, the mining cost for rook will increase substantially and the price "floor" of rook should rise.
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This mechanic is similar to Bitcoin or other PoW coins where more hashrate means a higher cost to mine...
In the case of the hiding game, the "hashrate" is the amount of volume routed through the platform / mev captured.
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In the case of the hiding game, the "hashrate" is the amount of volume routed through the platform / mev captured.
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So what will you do with your Rook tokens?
Whatever the fuck you want.
I would imagine the market will carry a premium over the mining cost of rook, meaning you could sell them to add a mega profit boost to your trading.
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Whatever the fuck you want.
I would imagine the market will carry a premium over the mining cost of rook, meaning you could sell them to add a mega profit boost to your trading.
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Rook is also a governance token.
You can hold em.
Voting is coming soon, and you can bet on Rook holders voting on treasury distribution to themselves.
Imagine staking Rook and getting paid all of the MEV capture on a daily basis...
This isn't here yet, but soon(tm).
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You can hold em.
Voting is coming soon, and you can bet on Rook holders voting on treasury distribution to themselves.
Imagine staking Rook and getting paid all of the MEV capture on a daily basis...
This isn't here yet, but soon(tm).
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oh and p.s.
Hope you enjoyed my thread and now understand why the rook token is badass as fuck and probably a great hold.
let's be real... everyone is gonna use this shit.
Hope you enjoyed my thread and now understand why the rook token is badass as fuck and probably a great hold.
let's be real... everyone is gonna use this shit.
