Liquidity protocol Rook has experienced a surge in activity, with its token (ROOK) rising 23% on speculation that Three Arrows Capital founders Zhu Su and Kyle Davies have completed a raise for their bankruptcy-claims exchange.
The surge follows a tweet from decentralized finance (DeFi) researcher Ignas, who indicated the two may have completed a $25 million fundraise. Three Arrows Capital was a failed hedge fund that invested in the seed round for KeeperDAO, now rebranded to Rook, in 2020.
Rook is a maximum extractable value (MEV) marketplace on Ethereum. It aims to redistribute value that is often swept up by miners and predatory trading algorithms.
(By Oliver Knight)
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