---
type: source
title: "Futardio: Execute Creation of Spot Market for META?"
author: "futard.io"
url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF"
date: 2024-02-05
domain: internet-finance
format: data
status: unprocessed
tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

## Proposal Details
- Project: MetaDAO
- Proposal: Execute Creation of Spot Market for META?
- Status: Passed
- Created: 2024-02-05
- URL: https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF
- Description: Create Spot Market for META Tokens?

## Summary

### 🎯 Key Points  
The proposal aims to execute the creation of a spot market for META by establishing a liquidity pool, allocating META to participants, and compensating multisig members.

### 📊 Impact Analysis  
#### 👥 Stakeholder Impact  
Participants will have the opportunity to acquire META and contribute to the liquidity pool, enhancing their engagement with the DAO.

#### 📈 Upside Potential  
Successfully creating the liquidity pool could lead to increased trading volume and price stability for META.

#### 📉 Risk Factors  
There is a risk of non-compliance from participants regarding USDC transfers, which could hinder the successful funding of the liquidity pool.

## Content

[Proposal 3](https://futarchy.metadao.fi/metadao/proposals/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b) passed, giving the DAO the remit to raise money and use some of that money to create an LP pool. Since then, Proph3t and Rar3 have ironed out the details and come up with this plan:

1. People submit their demand into a Google form
2. Proph3t decides how much allocation to give each person
3. Proph3t reaches out on Monday, Feb 5th to people with allocations, telling them they have to transfer the USDC by Wednesday, Feb 7th
4. Some people won't complete this step, so Proph3t will reach out to people who didn't get their full desired allocation on Thursday, Feb 8th to send more USDC until we reach the full 75,000
5. On Friday, Feb 9th the multisig will send out META to all participants, create the liquidity pool (likely on Meteora), and disband

We've created the multisig; it's a 4/6 containing Proph3t, Dean, Nallok, Durden, Rar3, and BlockchainFixesThis. This proposal will transfer 4,130 META to that multisig. This META will be allocated as follows:

- 3100 META to send to participants of the sale
- 1000 META to pair with 35,000 USDC to create the pool (this sets an initial spot price of 35 USDC / META)
- 30 META to renumerate each multisig member with 5 META

Obviously, there is no algorithmic guarantee that the multisig members will actually perform this, but it's unlikely that 4 or more of the multisig members would be willing to tarnish their reputation in order to do something different.

## Raw Data

- Proposal account: `HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF`
- Proposal number: 5
- DAO account: `7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy`
- Proposer: `UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e`
- Autocrat version: 0.1
- Completed: 2024-02-10
- Ended: 2024-02-10
