What is KeeperDAO (ROOK)?
ROOK is the native token of KeeperDAO, which is an Ethereum-based decentralized platform that brings people together to participate in keeping Ethereum more secure, profitable, and democratic. The participants offer resources to facilitate transactions on the blockchain network. In return, KeeperDAO incentivizes them.
Check out the KeeperDAO price chart above to see the current ROOK price.
KeeperDAO name combines two words – 'Keeper' and 'DAO.' Keeper refers to computer programs that monitor Ethereum and other blockchain networks that identify and take part in the operation of Ethereum. These programs facilitate operations and earn rewards. The operations include auctions, system upkeep, arbitrage, and liquidation. DAO, on the other hand, stands for decentralized autonomous organization. DAOs are organizations governed by a set of rules written in computer programs. These rules are transparent and developed by members of the organization, rather than a single authority.
KeeperDAO enables users to pool resources to earn maximum profit from on-chain transactions. Simply put, on-chain transactions are crypto transactions executed on a blockchain network. In this case, they may include arbitrages and liquidation. Arbitrage involves buying and selling the same asset at different prices to earn profit. As liquidators, KeeperDAO users earn rewards for supporting lending and borrowing platforms – keeping them solvent.
KeeperDAO also enables users to stake various crypto assets in liquidity pools, such as USDC and DAI. The assets are invested in profit-earning opportunities presented by protocols such as Compound, dYdX, MakerDAO, and DDEX. However, these opportunities are not always present. They often occur when the market is highly volatile, and prices change rapidly. Since these pools may have huge capital from many investors, some risk remaining underutilized. The funds are frequently loaned out on markets such as Compound to solve this problem.
Who Founded the KeeperDAO Project?
The KeeperDAO crypto project was founded in 2019 by Bainy Zhang, Joey Zacherl, Susruth Nadimpalli, Taiyang Zhang, and Tiantian Kullander. The project picked up well after the launch, with the ROOK price remaining around $100. Besides that, KeeperDAO entered a bull run in early 2021, reaching a climax on February 14, 2021, as the ROOK price hit an all-time high of $831.80. However, since then, the value of KeeperDAO tokens has dropped by over 90%.
What Can You Do With ROOK Tokens?
ROOK is the native token of the KeeperDAO protocol. It is an ERC-20 token. You can stake KeeperDAO coins in liquidity pools to earn rewards. Besides that, ROOK is also a governance token, meaning that, as a holder, you can participate in the platform's decision-making processes. This includes managing all parameters, such as liquidity and keepers fees, as well as proposing various changes to the platform.
ROOK Tokenomics
ROOK tokens have a total supply of 1.5 million. KeeperDAO allocated a large share of ROOK tokens (80%) to the originators of the value and the product users. The remaining supply was split between ROOK stakers (10%), the KeeperDAO treasury (6%), and token burns (4%). The burning of tokens is employed in order to prevent inflation that may lead to a drop in the KeeperDAO price.
