---
type: source
title: "Futardio: Sell up to 2M META at market price or premium?"
author: "futard.io"
url: "https://www.metadao.fi/projects/metadao/proposal/GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ"
date: 2025-10-15
domain: internet-finance
format: data
status: unprocessed
tags: [futarchy, solana, governance, metadao]
event_type: proposal
---

## Proposal Details
- Project: MetaDAO
- Proposal: Sell up to 2M META at market price or premium?
- Status: Passed
- Created: 2025-10-15
- URL: https://www.metadao.fi/projects/metadao/proposal/GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ
- Description: We still need to raise money, so I’m proposing that I (Proph3t) sell up to 2,000,000 META on behalf of MetaDAO at the market price or at a premium.
- Discussion: https://discord.gg/Da3MJ8wKzx

## Summary

### 🎯 Key Points
Proph3t proposes to sell up to 2,000,000 newly-minted META at market price or a premium to raise funds for MetaDAO, with sales publicly reported and any unsold META burned. The minimum sale price would be based on a 24-hour TWAP or a floor price of $4.80, whichever is higher.

### 📊 Impact Analysis
#### 👥 Stakeholder Impact
This proposal aims to provide liquidity and raise funds for MetaDAO, potentially benefiting all stakeholders involved by increasing treasury reserves.

#### 📈 Upside Potential
Successfully selling the META could generate up to $10,000,000 in proceeds, significantly enhancing MetaDAO's financial position.

#### 📉 Risk Factors
There is a risk of market volatility affecting the sale price, which could lead to unsold META if demand does not meet expectations or if the market price falls below the established floor.

## Content

**Author:** Proph3t

A previous proposal by DBA and Variant to OTC $6,000,000 of META failed, with the main feedback being that offering OTCs at a large discount is \-EV for MetaDAO. 

We still need to raise money, and we’ve seen some demand from funds since this proposal, so I’m proposing that I (Proph3t) sell up to 2,000,000 META on behalf of MetaDAO at the market price or at a premium.

## **Execution**

The 2,000,000 META would be newly-minted.

I would have 30 days to sell this META. All USDC from sales would be deposited back into MetaDAO’s treasury. Any unsold META would be burned.

I would source OTC counterparties for sales.

All sales would be publicly broadcast within 24 hours, including the counterparty, the size, and the price of the sale.

I would also have the option to sell up to $400,000 per day of META in ATM sales (into the open market, either with market or limit orders), up to a total of $2,000,000.

The maximum amount of total proceeds would be $10,000,000.

## **Pricing**

The minimum price of these OTCs would be the higher of:  
\- the market price, calculated as a 24-hour TWAP at the time of the agreement  
\- a price of $4.80, equivalent to a \~$100M market capitalization

That is, even if the market price dips below $100M, no OTC sales could occur below $100M. We may also execute at a price above these terms if there is sufficient demand. 

## **Lockups / vesting**

I would have ultimate discretion over any lockup and/or vesting terms.

## Raw Data

- Proposal account: `GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ`
- Proposal number: 3
- DAO account: `Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km`
- Proposer: `proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2`
- Autocrat version: 0.5
