diff --git a/entities/internet-finance/metadao-execute-creation-spot-market-meta.md b/entities/internet-finance/metadao-execute-creation-spot-market-meta.md new file mode 100644 index 000000000..df622954a --- /dev/null +++ b/entities/internet-finance/metadao-execute-creation-spot-market-meta.md @@ -0,0 +1,64 @@ +--- +type: entity +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://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF" +proposal_date: 2024-02-05 +resolution_date: 2024-02-10 +category: "treasury" +summary: "Execute creation of META/USDC liquidity pool on Meteora following Proposal 3's fundraising mandate" +tracked_by: rio +created: 2026-03-11 +--- + +# MetaDAO: Execute Creation of Spot Market for META + +## Summary + +This proposal executed the operational details of MetaDAO's spot market creation following the passage of Proposal 3, which authorized fundraising. The proposal transferred 4,130 META to a 4/6 multisig to: (1) distribute 3,100 META to sale participants, (2) pair 1,000 META with 35,000 USDC to create a liquidity pool on Meteora at an initial price of 35 USDC/META, and (3) compensate six multisig members with 5 META each. + +## Market Data + +- **Outcome:** Passed +- **Proposer:** UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e +- **Proposal Account:** HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF +- **Proposal Number:** 5 +- **Completed:** 2024-02-10 + +## Execution Details + +**Multisig Structure:** 4/6 multisig containing Proph3t, Dean, Nallok, Durden, Rar3, and BlockchainFixesThis + +**Token Allocation:** +- 3,100 META → sale participants +- 1,000 META → liquidity pool paired with 35,000 USDC +- 30 META → multisig compensation (5 META per member) + +**Process Timeline:** +- Monday, Feb 5: Proph3t contacts participants with allocations +- Wednesday, Feb 7: USDC transfer deadline +- Thursday, Feb 8: Secondary allocation round for unfilled capacity +- Friday, Feb 9: META distribution, pool creation, multisig disbands + +**Target Raise:** 75,000 USDC total + +**Liquidity Pool:** Meteora (likely platform) + +**Initial Price:** 35 USDC/META + +## Significance + +This proposal reveals the operational execution layer of futarchy governance. While the market mechanism approved the high-level decision (Proposal 3: raise money and create LP), the actual execution required traditional trust infrastructure. The proposal explicitly acknowledged: "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." + +This demonstrates futarchy's practical dependency on reputational trust for complex multi-step treasury operations that cannot be fully encoded on-chain. The market decides *what* to do; trusted operators decide *how* to execute. + +## Relationship to KB + +- [[metadao]] — treasury operation and liquidity bootstrapping +- [[meteora]] — liquidity pool platform +- [[futarchy-governed-DAOs-converge-on-traditional-corporate-governance-scaffolding-for-treasury-operations-because-market-mechanisms-alone-cannot-provide-operational-security-and-legal-compliance]] — confirms this pattern \ No newline at end of file diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 9f0ae5600..b5c4d6718 100644 --- a/entities/internet-finance/metadao.md +++ b/entities/internet-finance/metadao.md @@ -54,6 +54,7 @@ The futarchy governance protocol on Solana. Implements decision markets through - **2026-03** — Pine Analytics Q4 2025 quarterly report published - **2024-02-18** — [[metadao-otc-trade-pantera-capital]] failed: Pantera Capital's $50,000 OTC purchase proposal rejected by futarchy markets +- **2024-02-05** — [[metadao-execute-creation-spot-market-meta]] passed: Approved transfer of 4,130 META to 4/6 multisig for spot market creation on Meteora at 35 USDC/META initial price ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/entities/internet-finance/meteora.md b/entities/internet-finance/meteora.md index d887a3f9e..80ec3ca60 100644 --- a/entities/internet-finance/meteora.md +++ b/entities/internet-finance/meteora.md @@ -37,6 +37,7 @@ Solana liquidity protocol offering Dynamic Liquidity Market Maker (DLMM) pools, - **2025-Q4** — Meteora LP generates $1.15M in fees for MetaDAO (Pine Analytics Q4 report) - **2025-10 to 2026-03** — Every Futardio launch allocates 900K tokens to Meteora pool as standard template +- **2024-02-09** — MetaDAO created META/USDC liquidity pool on Meteora with 1,000 META paired with 35,000 USDC (35 USDC/META initial price) following [[metadao-execute-creation-spot-market-meta]] ## Competitive Position - **Infrastructure role**: Not competing with MetaDAO — provides complementary liquidity infrastructure. Meteora is the LP venue; Futarchic AMM is the governance venue. - **vs Raydium**: Both are major Solana AMMs. Raydium offers CLMM (concentrated liquidity). Meteora differentiates with DLMM and dynamic bonding pools. diff --git a/entities/internet-finance/nallok.md b/entities/internet-finance/nallok.md index 304aae178..5417fc597 100644 --- a/entities/internet-finance/nallok.md +++ b/entities/internet-finance/nallok.md @@ -48,3 +48,7 @@ Relevant Entities: Topics: - [[internet finance and decision markets]] + +## Timeline + +- **2024-02-05** — Served on 4/6 multisig for MetaDAO spot market creation alongside Proph3t, Dean, Durden, Rar3, and BlockchainFixesThis diff --git a/entities/internet-finance/proph3t.md b/entities/internet-finance/proph3t.md index 6ebf92395..760da683d 100644 --- a/entities/internet-finance/proph3t.md +++ b/entities/internet-finance/proph3t.md @@ -44,3 +44,7 @@ Relevant Entities: Topics: - [[internet finance and decision markets]] + +## Timeline + +- **2024-02-05** — Served on 4/6 multisig for MetaDAO spot market creation, coordinating participant allocations and USDC collection for 75,000 USDC raise diff --git a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md index 6b11e782c..1182d188b 100644 --- a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md +++ b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md @@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4t date: 2024-02-05 domain: internet-finance format: data -status: unprocessed +status: processed tags: [futardio, metadao, futarchy, solana, governance] event_type: proposal +processed_by: rio +processed_date: 2026-03-11 +enrichments_applied: ["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.md", "futarchy-governed-DAOs-converge-on-traditional-corporate-governance-scaffolding-for-treasury-operations-because-market-mechanisms-alone-cannot-provide-operational-security-and-legal-compliance.md"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "This source is a governance proposal execution record, not a source of novel claims. The primary value is operational detail about how MetaDAO executes futarchy decisions through trusted multisig infrastructure. Extracted as decision_market entity with enrichments to existing futarchy governance claims. No new standalone claims warranted — the insights confirm existing patterns rather than establish new ones." --- ## Proposal Details @@ -61,3 +66,11 @@ Obviously, there is no algorithmic guarantee that the multisig members will actu - Autocrat version: 0.1 - Completed: 2024-02-10 - Ended: 2024-02-10 + + +## Key Facts +- MetaDAO Proposal 5 passed on 2024-02-10 +- Initial META spot price set at 35 USDC/META +- Total raise target: 75,000 USDC +- Multisig members: Proph3t, Dean, Nallok, Durden, Rar3, BlockchainFixesThis (4/6 threshold) +- Token allocation: 3,100 META to participants, 1,000 META to LP, 30 META to multisig compensation