---
type: source
title: "Futardio: Drift Futarchy Proposal - Welcome the Futarchs"
author: "futard.io"
url: "https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS"
date: 2024-05-30
domain: internet-finance
format: data
status: unprocessed
tags: [futardio, metadao, futarchy, solana, governance]
event_type: proposal
---

## Proposal Details
- Project: Drift
- Proposal: Drift Futarchy Proposal - Welcome the Futarchs
- Status: Passed
- Created: 2024-05-30
- URL: https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS
- Description: This proposal is meant to signal rewards for strong forecasters in futarchic markets.

## Summary

### 🎯 Key Points  
This proposal requests **50,000 DRIFT** to incentivize participation in Drift Futarchy by rewarding early participants and encouraging the formulation of future proposals.

### 📊 Impact Analysis  
#### 👥 Stakeholder Impact  
MetaDAO participants will receive retroactive rewards based on their engagement, promoting active involvement in the community.

#### 📈 Upside Potential  
The initiative could enhance proposal quality and community engagement within Drift Futarchy, fostering a more dynamic ecosystem.

#### 📉 Risk Factors  
There is a risk of misallocation of funds or insufficient participation in future proposals, potentially undermining the intended incentives and program effectiveness.

## Content

## Overview

This proposal requests **50,000 DRIFT** to carry out an early Drift Futarchy incentive program (max of 10 proposals / 3 months). 

This proposal is meant to signal rewards for strong forecasters in futarchic markets by:
- Rewarding early and active participants of MetaDAO with tokens to participate in Drift Futarchy (via the ["endowment effect"](https://en.wikipedia.org/wiki/Endowment_effect))
- Incentivizing future well-formulated proposals and activity for Drift Futarchy

This proposal's outline is fulfilled over months by the executor group, acting as a 2/3 multisig, defined below.


## Implementation 

### Retroactive Reward:

Using the following dune dashboard data as reference: https://dune.com/metadaohogs/themetadao (with May 19th, 2024 UTC as a cutoff date)
- [METADAO activity](https://gist.github.com/0xbigz/3ddbe2a21e721326d151ac957f96da20)
- [META token holdings](https://gist.github.com/0xbigz/f461ed8accc6f86181d3e9a2c164f810)

Among those who interacted with metadao's conditional vaults on at least 5 occassions over more period of 30 days, will recieve a retroactive reward as follows:

- < 1 META, 100 DRIFT
- \>= 1 META, 200 DRIFT
- \>= 10 META, 400 DRIFT

This [code](https://gist.github.com/0xbigz/a67d75f138c1c656353ab034936108fe) produces the following list of 32 MetaDAO participants who are qualified:
https://gist.github.com/0xbigz/056d3f7780532ffa5662410bc49f7215

**(9,600 DRIFT)**

Additionally, all MetaDAO AMM swapers interacters https://dune.com/queries/3782545 who aren't included above should split remaining. 

crude snapshot: https://gist.github.com/0xbigz/adb2020af9ef0420b9026514bcb82eab

**(2,400 DRIFT)**

--- 

### Future Incentive:
*The following applies to the lengthlier of next 10 proposals or 3 month time frame*

Additionally, excluding this instance, passing proposal that are honored by security council can earn up to 5000 DRIFT for the proposer(s), each claimable after 3 months after.
(*if successful proposals exceed two, executor group can decide top N proposals to split*)
**(10,000 DRIFT)**


For accounts sufficiently active during the period, a pool of 20,000 DRIFT will be split and claimable after 3 months. To filter for non organic activity, the exact criteria for this shall be finalized by the execution group. 
**(25,000 DRIFT)**

---

### Execution Group:

A 2/3 multisig to escrow and distribute funds based on outline. After successful completion of this proposal, they can distribute their allocation as they see fit. 

In the event of uncertainty or excess budget, funds shall be returned to originating wallet or Drift Futarchy DAO treasury.
**(3,000 DRIFT)**

- [metaprophet](https://x.com/metaproph3t)
- [Sumatt](https://x.com/quantrarianism)
- [Lmvdzande](https://x.com/Lmvdzande)

## Raw Data

- Proposal account: `9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS`
- Proposal number: 1
- DAO account: `5vVCYQHPd8o3pGejYWzKZtnUSdLjXzDZcjZQxiFumXXx`
- Proposer: `HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz`
- Autocrat version: 0.3
- Completed: 2024-06-02
- Ended: 2024-06-02
