---
type: entity
entity_type: decision_market
name: "MetaDAO: Create Spot Market for META?"
domain: internet-finance
status: passed
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz"
proposal_url: "https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b"
proposal_date: 2024-01-12
resolution_date: 2024-01-18
category: "fundraise"
summary: "Proposal to create a spot market for $META tokens through a public token sale with $75K hard cap and $35K liquidity pool allocation"
tracked_by: rio
created: 2026-03-11
---

# MetaDAO: Create Spot Market for META?

## Summary
This proposal initiated the creation of a spot market for $META tokens by conducting a public token sale with a $75,000 hard cap, pricing tokens at the TWAP of the passing proposal, and allocating approximately $35,000 to establish a liquidity pool. The proposal passed and enabled MetaDAO to raise funds from public markets for the first time.

## Market Data
- **Outcome:** Passed
- **Proposer:** HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- **Proposal Number:** 3
- **Created:** 2024-01-12
- **Completed:** 2024-01-18
- **Hard Cap:** $75,000
- **LP Allocation:** ~$35,000
- **Sale Price:** TWAP of passing proposal
- **Sale Quantity:** Hard cap / Sale Price

## Significance
This was MetaDAO's first public fundraising mechanism through futarchy governance, establishing the precedent for token sales governed by conditional markets. The proposal included a critical constraint: if it failed, MetaDAO would be unable to raise funds until March 12, 2024, creating meaningful stakes for the decision. The structure separated the token sale from liquidity provision, with excess funds reserved for operational funding in $SOL.

## Relationship to KB
- [[metadao]] - first public fundraising proposal
- [[futardio]] - platform hosting the decision market
- [[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]] - mechanism used for this decision