---
type: decision
entity_type: decision_market
name: "MetaDAO: Execute Creation of Spot Market for META?"
domain: internet-finance
status: passed
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e"
proposal_url: "https://v1.metadao.fi/metadao/trade/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF"
proposal_date: 2024-02-05
resolution_date: 2024-02-10
category: "treasury"
summary: "Authorized 4,130 META transfer to 4/6 multisig to execute spot market creation through participant sale and liquidity pool establishment"
key_metrics:
  meta_allocated: "4,130 META"
  sale_allocation: "3,100 META"
  lp_allocation: "1,000 META"
  usdc_paired: "35,000 USDC"
  initial_price: "35 USDC/META"
  multisig_compensation: "30 META (5 per member)"
  target_raise: "75,000 USDC"
tracked_by: rio
created: 2026-03-11
---

# MetaDAO: Execute Creation of Spot Market for META?

## Summary
This proposal authorized the transfer of 4,130 META tokens to a 4/6 multisig to execute the creation of a spot market for META tokens. The execution plan involved coordinating a private sale to raise 75,000 USDC, then using 1,000 META paired with 35,000 USDC to create a liquidity pool on Meteora, setting an initial spot price of 35 USDC per META.

## Market Data
- **Outcome:** Passed
- **Proposer:** UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e
- **Proposal Number:** 5
- **Completed:** 2024-02-10
- **Autocrat Version:** 0.1

## Execution Structure
The proposal established a 4/6 multisig containing Proph3t, Dean, Nallok, Durden, Rar3, and BlockchainFixesThis to execute a multi-step process:

1. Collect demand through Google form
2. Proph3t determines allocations
3. Participants transfer USDC (Feb 5-7 deadline)
4. Backfill unmet demand from waitlist (Feb 8)
5. Multisig distributes META to participants, creates LP, and disbands (Feb 9)

Token allocation breakdown:
- 3,100 META to sale participants
- 1,000 META paired with 35,000 USDC for liquidity pool
- 30 META as multisig member compensation (5 META each)

## Significance
This proposal demonstrates the operational scaffolding required for futarchy-governed treasury operations. The proposal explicitly acknowledged "no algorithmic guarantee" of execution, instead relying on reputational incentives: "it's unlikely that 4 or more of the multisig members would be willing to tarnish their reputation in order to do something different."

The execution model shows futarchy DAOs using human-operated multisigs with social enforcement for operational tasks even when the governance decision itself is market-determined. This represents a pragmatic hybrid between algorithmic governance and traditional operational execution.

## Relationship to KB
- [[metadao]] - parent entity, treasury operation
- [[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]] - governance mechanism
- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] - operational pattern
- [[meteora]] - liquidity pool platform

## Full Proposal Text

*Source: futard.io, tabled 2024-02-05*

[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.