rio: extract from 2023-12-16-futardio-proposal-develop-a-saber-vote-market.md

- Source: inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 4)

Pentagon-Agent: Rio <HEADLESS>

entities/internet-finance/metadao-develop-saber-vote-market.md

@@ -0,0 +1,64 @@
+---
+type: entity
+entity_type: decision_market
+name: "MetaDAO: Develop a Saber Vote Market?"
+domain: internet-finance
+status: passed
+parent_entity: "[[metadao]]"
+platform: "futardio"
+proposer: "Proph3t"
+proposal_url: "https://www.futard.io/proposal/GPT8dFcpHfssMuULYKT9qERPY3heMoxwZHxgKgPw3TYM"
+proposal_date: 2023-12-16
+resolution_date: 2023-12-22
+category: "mechanism"
+summary: "Proposal to build a Saber vote market funded by $150K from ecosystem partners, enabling veSBR holders to earn yield and projects to access liquidity"
+key_metrics:
+  budget: "$62,000"
+  consortium_funding: "$150,000"
+  estimated_tvl_ratio: "$1 vote volume per $50 TVL"
+  take_rate: "15%"
+  metadao_ownership: "65%"
+tracked_by: rio
+created: 2026-03-11
+---
+
+# MetaDAO: Develop a Saber Vote Market?
+
+## Summary
+Proposal to build a vote market for Saber (similar to Curve's Votium/Convex model) where veSBR holders can sell their governance votes to projects seeking liquidity. The platform would be funded by $150K from ecosystem partners (UXD, BlazeStake, LP Finance, Saber), with MetaDAO owning 65% and taking a 15% fee on vote trades. Development budget of $62K with 10-week timeline targeting February 2024 launch.
+
+## Market Data
+- **Outcome:** Passed
+- **Proposer:** Proph3t (metaproph3t)
+- **Completed:** 2023-12-22
+- **Budget:** $62,000 development cost, $150,000 total consortium funding
+- **Timeline:** 10 weeks (Dec 18, 2023 - Feb 19, 2024)
+
+## Mechanism Design
+The proposal models vote market economics on Curve/Convex data:
+- Estimated $1 in yearly vote trade volume per $50 of Saber TVL (based on Curve at $1/$67, pre-depeg Curve at $1/$48, Aura at $1/$56)
+- 15% take rate (compared to Convex 7-10%, Votium ~3%, Hidden Hand ~10%)
+- At $20M Saber TVL baseline: $400K annual vote volume → $60K annual revenue to MetaDAO
+- Revenue scales with TVL growth scenarios ($40M TVL = $120K/year, $100M TVL = $300K/year)
+
+## Team and Execution
+- Marie (UI/UX): $12,000
+- Matt/fzzyyti (smart contracts): $24,000
+- Durden (platform design & tokenomics): $7,000
+- Proph3t (program management): $7,000
+- Joe + r0bre (audit): $10,000 combined
+- Deployment/misc: $2,000
+
+## Significance
+This represents MetaDAO's second attempt at building vote market infrastructure after pivoting from Marinade (which built internal solution). The proposal demonstrates:
+1. **Partnership strategy** - Ecosystem consortium funding model where beneficiaries co-fund infrastructure
+2. **Revenue model validation** - First detailed financial projections for MetaDAO revenue beyond token appreciation
+3. **Legitimacy building** - Partnering with established Solana protocols (Saber, UXD) to gain credibility
+4. **Futarchy application** - Using conditional markets to decide whether to pursue this business opportunity
+
+The financial modeling is notably sophisticated, benchmarking against Ethereum vote market comparables (Votium, Hidden Hand, Convex) and projecting revenue scenarios across different TVL levels.
+
+## Relationship to KB
+- [[metadao]] - governance decision on product development
+- [[futarchy-governed entities are structurally not securities because prediction market participation replaces the concentrated promoter effort that the Howey test requires]] - vote market as futarchy application
+- [[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

entities/internet-finance/metadao.md

@@ -54,6 +54,8 @@ 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
+- **2023-12-16** — [[metadao-develop-saber-vote-market]] proposed: Build Saber vote market with $150K consortium funding from UXD, BlazeStake, LP Finance, and Saber; 65% MetaDAO ownership with 15% take rate on vote trades
+- **2023-12-22** — [[metadao-develop-saber-vote-market]] passed: Approved development of Saber vote market with $62K budget and 10-week timeline targeting February 2024 launch
 ## Key Decisions
 | Date | Proposal | Proposer | Category | Outcome |
 |------|----------|----------|----------|---------|

inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md

@@ -6,9 +6,13 @@ url: "https://www.futard.io/proposal/GPT8dFcpHfssMuULYKT9qERPY3heMoxwZHxgKgPw3TY
 date: 2023-12-16
 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
+extraction_model: "anthropic/claude-sonnet-4.5"
+extraction_notes: "Proposal entity extraction. This is a governance decision with detailed financial modeling but no novel mechanism claims - the vote market concept itself is established (Curve/Convex model). The significance is in MetaDAO's application and partnership structure, not in the underlying mechanism. Financial projections are self-reported estimates, not verified outcomes. No new claims warranted as the vote market mechanism and futarchy governance are already covered in existing KB claims."
 ---
 
 ## Proposal Details
@@ -201,3 +205,11 @@ For those who are more familiar with bribe terminology, which I prefer not to us
 - Autocrat version: 0.1
 - Completed: 2023-12-22
 - Ended: 2023-12-22
+
+
+## Key Facts
+- Saber TVL was $20M as of December 2023
+- Curve TVL was $2B with $1.25M biweekly vote incentives (December 2023)
+- Pre-Luna depeg, Curve had $20B TVL with $15-20M biweekly vote volume
+- Aura had $600M TVL with $900K biweekly vote volume (May 2023)
+- Convex take rate: 7-10%, Votium: ~3%, Hidden Hand: ~10%