---
type: decision
entity_type: decision_market
name: "MetaDAO: Migrate META Token"
domain: internet-finance
status: passed
tracked_by: rio
created: 2026-03-11
last_updated: 2026-03-11
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "Proph3t & Kollan"
proposal_url: "https://v1.metadao.fi/metadao/trade/4grb3pea8ZSqE3ghx76Fn43Q97mAh64XjgwL9AXaB3Pe"
proposal_date: 2025-08-07
resolution_date: 2025-08-10
category: mechanism
summary: "1:1000 token split, mintable supply, new DAO v0.5 (Squads), LP fee reduction from 4% to 0.5%"
tags: ["futarchy", "token-migration", "elastic-supply", "squads", "meta-token"]
---

# MetaDAO: Migrate META Token

## Summary
Migration from METAC (unmintable, ~20K supply) to new META token (mintable, ~20.86M supply via 1:1000 split). Mint and update authority transferred to new DAO governed via Squads vault (v0.5). Protocol-owned liquidity fee reduced from 4% to 0.5%. New DAO passing threshold reduced to 1.5%, monthly spending limit set at $120K. Migration contract deployed as permanent one-way conversion. New META token: METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta. New DAO: Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km.

## Market Data
- **Outcome:** Passed (2025-08-10)
- **Autocrat version:** 0.3
- **Key participants:** Proph3t (co-author), Kollan (co-author)

## Significance
This is the resolution of the mintable-token saga that began with the 99.3% burn ([[metadao-burn-993-percent-meta]]), continued through the failed community proposal ([[metadao-token-split-elastic-supply]]), and culminated here. The DAO's treasury was exhausted (as the burn had predicted), forcing the migration to mintable tokens.

Key architectural decisions: (1) mint authority to DAO governance, not any multisig — "market-driven issuance" as extension of market-driven decision-making; (2) Squads integration for operational security; (3) LP fee reduction from 4% to 0.5% anticipating the custom Futarchic AMM; (4) permanent migration contract with unlimited conversion window, avoiding forced timelines.

The proposal explicitly frames mintable supply as philosophically consistent with futarchy: "Futarchy is market-driven decision making. To stay true to that principle, it also requires market-driven issuance." This is the strongest empirical evidence for the claim that futarchy DAOs require mintable governance tokens — the fixed-supply model broke in practice.

## Relationship to KB
- [[metadao]] — token architecture migration
- [[metadao-burn-993-percent-meta]] — the burn that created the need for this migration
- [[metadao-token-split-elastic-supply]] — the earlier failed community version
- [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]] — primary evidence for this claim
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — 1:1000 split addresses unit bias

---

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

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

## Full Proposal Text

*Source: futard.io, tabled 2025-08-07*

**Type:** Operations Direct Action

**Authors:** Proph3t, Kollan


## **Overview**

Futarchy is market-driven decision making. To stay true to that principle, it also requires market-driven issuance. A mintable token is essential to fund the organization, incentivize participation, and adapt to changing governance outcomes.

MetaDAO's token, META (METAC), is no longer fit for purpose: it's unmintable, the DAO's treasury is exhausted, and unit bias remains an issue. This proposal introduces a 1:1000 token split, re-establishes mint and update authority, and migrates the DAO to version 0.5 (Squads).

We're migrating METAC to a new token, META, expanding supply from \~20K to \~20M to align with peer futarchies. Protocol-owned liquidity will also shift from a restrictive 4% fee pool to a 0.50% pool, improving efficiency until FutarchyAMM is live.

The new META token will be governed by the new DAO, which holds mint and update authority. A migration contract and frontend will let METAC holders convert at any time.

Work on the migration is already underway and should take up to 1 week. Migration will only proceed if this proposal passes.


## **Specifications**

|  | New (META) | Existing (METAC) |
| ----- | ----- | ----- |
| Ticker | META | META |
| Supply | 20,863,129.001238  | 20,863.129001238  |
| Price | \~$0.79875 | \~$798.75 |
| Protocol Owned Liquidity Fee | 0.5% | 4% |
| Mintable | Yes | No |
| Updateable | Yes | Yes |
| Decimals | 6 | 9 |
| Split Ratio | 1000 | – |


## **Process**

* This proposal includes a transfer instruction for the new DAO to take custody of onchain assets, including:
  * 1.2M USDC from account `C6DaJNGP1Xsd1seePqn8BPfQWMxsbBoUSf6Kbagmta2T` to account `BxgkvRwqzYFWuDbRjfTYfgTtb41NaFw1aQ3129F79eBT`
* Transfer the remaining USDC (minus funds used for proposal creation) from `6awyHMshBGVjJ3ozdSJdyyDE1CTAXUwrpNMaRGMsb4sf` to the new Squads treasury
* Notify LPs to withdraw liquidity from the existing pools
* Withdraw protocol-owned liquidity from Meteora
* Migrate liquidity to a new AMM LP with:
  * 0.5% fee tier
  * Initial price set at time of liquidity removal
* Launch the migration frontend upon passing
  * Supports frontend and script-based interactions
* Update token information across:
  * CoinMarketCap
  * CoinGecko
  * Blockworks
* Update internal systems (UI, SDKs, tools)
* Notify tokenholders and custodians with clear instructions
* Announce each milestone publicly as it's completed


## **References**

* New META token with 20,865,160.717538 supply `METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta`
* Launch a new v0.5 DAO using META as its `base_token`
  * `Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km`
  * Reduced passing threshold to 1.5%
  * Established a 120k USDC spending limit monthly
    * Expected burn is \~$80k, with max previously $120k
* Transferred mint and update authority for META to the new DAO controlled Squads vault
  * `BxgkvRwqzYFWuDbRjfTYfgTtb41NaFw1aQ3129F79eBT`
* Deploy a permanent migration contract that accepts METAC and releases META 1:1000
  * Program `gr8tqq2ripsM6N46gLWpSDXtdrH6J9jaXoyya1ELC9t`
  * Deployment `4viadAyxnRpHyW2g2NEzjLwGGgLTQK2QBmniJJqXWpXN`

* [Meteora Protocol Owned Liquidity](https://www.meteora.ag/pools/6t2CdBC26q9tj6jBwPzzFZogtjX8mtmVHUmAFmjAhMSn)
* [Current MetaDAO Treasury (Solana Explorer)](https://explorer.solana.com/address/C6DaJNGP1Xsd1seePqn8BPfQWMxsbBoUSf6Kbagmta2T/tokens)
* [METAC Token on Solscan](https://solscan.io/token/METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr)
* [META Token on Solscan](https://solscan.io/token/METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta)
* [MetaDAO on CoinMarketCap](https://coinmarketcap.com/currencies/meta-dao/)
* [MetaDAO on CoinGecko](https://www.coingecko.com/en/coins/meta-2)
