Incubator DAO, the new entity, is being run by activist investors who once bristled at Rook Labs’ perceived slights and demanded they return value to token holders. Rook Labs, the builders of Rook’s MEV technology and de facto operators of the project, ultimately obliged. They cut a deal that divorced ROOK, the token from Rook the project, by effectively buying out token holders’ governing rights for around 60% of the treasury.
ROOK Investors Begin Swapping Tokens for $25M Crypto Treasury
Written by Bankerage Published on April 14, 2023