---
type: decision
entity_type: decision_market
name: "MetaDAO: Migrate Autocrat Program to v0.2"
domain: internet-finance
status: passed
tracked_by: rio
created: 2026-03-11
last_updated: 2026-03-11
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "HenryE & Proph3t"
proposal_url: "https://v1.metadao.fi/metadao/trade/HXohDRKtDcXNKnWysjyjK8S5SvBe76J5o4NdcF4jj963"
proposal_date: 2024-03-28
resolution_date: 2024-04-03
category: mechanism
summary: "Upgrade Autocrat to v0.2 with reclaimable rent, conditional token merging, improved metadata, and lower pass threshold (5% to 3%)"
tags: ["futarchy", "autocrat", "mechanism-upgrade", "solana"]
source_archive: "inbox/archive/2024-03-28-futardio-proposal-migrate-autocrat-program-to-v02.md"
related:
- metadao-autocrat-migration-accepted-counterparty-risk-from-unverifiable-builds-prioritizing-iteration-speed-over-security-guarantees
- "{'MetaDAO': 'Migrate Autocrat Program to v0.1'}"
- "MetaDAO: Migrate Autocrat Program to v0.1"
reweave_edges:
- metadao-autocrat-migration-accepted-counterparty-risk-from-unverifiable-builds-prioritizing-iteration-speed-over-security-guarantees|related|2026-04-18
- "{'MetaDAO': 'Migrate Autocrat Program to v0.1|related|2026-04-18'}"
- "MetaDAO: Migrate Autocrat Program to v0.1|related|2026-04-19"
---

# MetaDAO: Migrate Autocrat Program to v0.2

## Summary
Technical upgrade from Autocrat v0.1 to v0.2. Three new features: (1) reclaimable rent — recover ~4 SOL used to create proposal markets, lowering proposal creation friction; (2) conditional token merging — combine 1 pTOKEN + 1 fTOKEN back into 1 TOKEN, improving liquidity during multiple active proposals; (3) conditional token metadata — tokens show names and logos in wallets instead of raw mint addresses. Config changes: pass threshold lowered from 5% to 3%, default TWAP value set to $100, TWAP updates in $5 increments (enhancing manipulation resistance), minimum META lot size reduced from 1 to 0.1 META.

## Market Data
- **Outcome:** Passed (2024-04-03)
- **Autocrat version:** 0.1 (last proposal on v0.1)
- **Key participants:** HenryE (author), Proph3t (author), OtterSec (program verification)

## Significance
First major Autocrat upgrade approved through futarchy itself — MetaDAO used its own governance mechanism to upgrade its governance mechanism. The changes directly addressed friction points: high proposal creation costs (~4 SOL), liquidity fragmentation across proposals, and poor UX for conditional tokens.

The pass threshold reduction from 5% to 3% is particularly noteworthy — it lowered the bar for proposals to pass, reflecting the team's belief that the original threshold was too conservative. The TWAP manipulation resistance improvements ($5 increments instead of 1%) show iterative mechanism refinement based on live experience.

Programs deployed: autocrat_v0 (metaRK9dUBnrAdZN6uUDKvxBVKW5pyCbPVmLtUZwtBp), openbook_twap (twAP5sArq2vDS1mZCT7f4qRLwzTfHvf5Ay5R5Q5df1m), conditional_vault (vAuLTQjV5AZx5f3UgE75wcnkxnQowWxThn1hGjfCVwP).

## Relationship to KB
- [[metadao]] — mechanism upgrade
- [[MetaDAOs Autocrat program implements futarchy through conditional token markets where proposals create parallel pass and fail universes settled by time-weighted average price over a three-day window]] — Autocrat evolution
- [[futarchy implementations must simplify theoretical mechanisms for production adoption because original designs include impractical elements that academics tolerate but users reject]] — iterative UX improvements
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — directly addressed proposal creation friction

---

Relevant Entities:
- [[metadao]] — parent organization
- [[proph3t]] — co-author

Topics:
- [[maps/internet finance and decision markets]]

## Full Proposal Text

*Source: futard.io, tabled 2024-03-28*

#### Author(s)
HenryE, Proph3t

## Overview
It's time to upgrade futarchy!

This upgrade includes three new features and a number of smaller config changes.

### The features:

- Reclaimable rent: you will now be able to get back the ~4 SOL used to create OpenBook proposal markets. This should lower the friction involved in creating proposals.
- Conditional token merging: now, if you have 1 pTOKEN and 1 fTOKEN, you'll me able to merge them back into 1 TOKEN. This should help with liquidity when there are multiple proposals active at once.
- Conditional token metadata: before, you would see conditional tokens in your wallet as random mint addresses. After this is merged, you should be able to see token names and logos, helping you identify what proposal they're a part of.

### The config changes:

- Lower pass threshold from 5% to 3%
- Set default TWAP value to $100 instead of $1
- Update TWAP in $5 increments instead of 1% increments, which enhances manipulation resistance while allowing the TWAP to be more accure
- Change minimum META lot sizes from 1 META to 0.1 META

The instruction attached to this proposal will migrate MetaDAO's assets over to the new autocrat program.

There are three main futarchy programs and a migrator program for transfering tokens from one DAO treasury account to another:

1. [autocrat_v0](https://solscan.io/account/metaRK9dUBnrAdZN6uUDKvxBVKW5pyCbPVmLtUZwtBp)
2. [openbook_twap](https://solscan.io/account/twAP5sArq2vDS1mZCT7f4qRLwzTfHvf5Ay5R5Q5df1m)
3. [conditional_vault](https://solscan.io/account/vAuLTQjV5AZx5f3UgE75wcnkxnQowWxThn1hGjfCVwP)
4. [migrator](https://solscan.io/account/MigRDW6uxyNMDBD8fX2njCRyJC4YZk2Rx9pDUZiAESt)

Each program has been deployed to devnet and mainnet, their IDLs have been deployed, and they've been verified by the OtterSec API against the programs in the two repos; [futarchy](https://github.com/metaDAOproject/futarchy) contains autocrat_v0, conditional_vault and migrator, and a separate repo contains [openbook_twap](https://github.com/metaDAOproject/openbook-twap). The Treasury account is the DAO's signer and has been set as the program upgrade authority on all programs.

### Addtional details for verification
- Old DAO
  - Autocrat Program: [metaX99LHn3A7Gr7VAcCfXhpfocvpMpqQ3eyp3PGUUq](https://solscan.io/account/metaX99LHn3A7Gr7VAcCfXhpfocvpMpqQ3eyp3PGUUq)
  - DAO Account: [7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy](https://solscan.io/account/7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy)
  - Treasury: [ADCCEAbH8eixGj5t73vb4sKecSKo7ndgDSuWGvER4Loy](https://solscan.io/account/ADCCEAbH8eixGj5t73vb4sKecSKo7ndgDSuWGvER4Loy) - signer

- New DAO
  - Autocrat Program: [metaRK9dUBnrAdZN6uUDKvxBVKW5pyCbPVmLtUZwtBp](https://solscan.io/account/metaRK9dUBnrAdZN6uUDKvxBVKW5pyCbPVmLtUZwtBp)
  - DAO Account: [14YsfUtP6aZ5UHfwfbqe9MYEW4VaDwTHs9NZroAfV6Pi](https://solscan.io/account/14YsfUtP6aZ5UHfwfbqe9MYEW4VaDwTHs9NZroAfV6Pi)
  - Treasury: [BC1jThSN7Cgy5LfBZdCKCfMnhKcq155gMjhd9HPWzsCN](https://solscan.io/account/BC1jThSN7Cgy5LfBZdCKCfMnhKcq155gMjhd9HPWzsCN) - signer

### Detailed Changelog and PR links
#### Autocrat
- Mostly minor config changes ([Pull Request #69](https://github.com/metaDAOproject/futarchy/pull/69)):
  - Set default pass threshold to 3%
  - Set max observation change per update lots to $5 and make it a configurable option
  - Set default expected value to $100
  - Ensure that the open markets expire a minimum of 10 days from the creation of the proposal to allow for rent retrieval from openbook markets
  - Reduce the openbook base lot size so that people can trade in lots of 0.1 META
#### Conditional Vault
- Add metadata to the conditional vault tokens so they show up nicely in wallets during a proposal ([Pull Request #52](https://github.com/metaDAOproject/futarchy/pull/52))
- Add the ability to merge tokens ([Pull Request #66](https://github.com/metaDAOproject/futarchy/pull/66))

#### Openbook-TWAP
- Switch to using a dollar-based increment instead of a percentage one:
  - [commit d08fb13](https://github.com/metaDAOproject/openbook-twap/commit/d08fb13d16c49071e37bd4fd0eff22edfb144237)
  - [commit a1cb709](https://github.com/metaDAOproject/openbook-twap/commit/a1cb7092374f146b430ab67b38f961f331a77ae1)
  - [commit fe159d2](https://github.com/metaDAOproject/openbook-twap/commit/fe159d2707ca4648a874d1fe0c411298b55de072)
  - [Pull Request #16](https://github.com/metaDAOproject/openbook-twap/pull/16)
- Get rid of the market expiry check, leave it up to autocrat ([Pull Request #20](https://github.com/metaDAOproject/openbook-twap/pull/20))
- Add instructions to allow pruning and closing of the market ([Pull Request #18](https://github.com/metaDAOproject/openbook-twap/pull/18))
- Also add permissionless settling of funds ([Pull Request #21](https://github.com/metaDAOproject/openbook-twap/pull/21))

#### Migrator
- Migrate all four token accounts to the new DAO account ([Pull Request #68](https://github.com/metaDAOproject/futarchy/pull/68))