ingestion: archive futardio proposal — 2025-10-15-futardio-proposal-sell-up-to-2m-meta-at-market-price-or-premium.md

inbox/archive/2025-10-15-futardio-proposal-sell-up-to-2m-meta-at-market-price-or-premium.md

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+---
+type: source
+title: "Futardio: Sell up to 2M META at market price or premium?"
+author: "futard.io"
+url: "https://www.metadao.fi/projects/metadao/proposal/GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ"
+date: 2025-10-15
+domain: internet-finance
+format: data
+status: unprocessed
+tags: [futarchy, solana, governance, metadao]
+event_type: proposal
+---
+
+## Proposal Details
+- Project: MetaDAO
+- Proposal: Sell up to 2M META at market price or premium?
+- Status: Passed
+- Created: 2025-10-15
+- URL: https://www.metadao.fi/projects/metadao/proposal/GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ
+- Description: We still need to raise money, so I’m proposing that I (Proph3t) sell up to 2,000,000 META on behalf of MetaDAO at the market price or at a premium.
+- Discussion: https://discord.gg/Da3MJ8wKzx
+
+## Summary
+
+### 🎯 Key Points
+Proph3t proposes to sell up to 2,000,000 newly-minted META at market price or a premium to raise funds for MetaDAO, with sales publicly reported and any unsold META burned. The minimum sale price would be based on a 24-hour TWAP or a floor price of $4.80, whichever is higher.
+
+### 📊 Impact Analysis
+#### 👥 Stakeholder Impact
+This proposal aims to provide liquidity and raise funds for MetaDAO, potentially benefiting all stakeholders involved by increasing treasury reserves.
+
+#### 📈 Upside Potential
+Successfully selling the META could generate up to $10,000,000 in proceeds, significantly enhancing MetaDAO's financial position.
+
+#### 📉 Risk Factors
+There is a risk of market volatility affecting the sale price, which could lead to unsold META if demand does not meet expectations or if the market price falls below the established floor.
+
+## Content
+
+**Author:** Proph3t
+
+A previous proposal by DBA and Variant to OTC $6,000,000 of META failed, with the main feedback being that offering OTCs at a large discount is \-EV for MetaDAO. 
+
+We still need to raise money, and we’ve seen some demand from funds since this proposal, so I’m proposing that I (Proph3t) sell up to 2,000,000 META on behalf of MetaDAO at the market price or at a premium.
+
+## **Execution**
+
+The 2,000,000 META would be newly-minted.
+
+I would have 30 days to sell this META. All USDC from sales would be deposited back into MetaDAO’s treasury. Any unsold META would be burned.
+
+I would source OTC counterparties for sales.
+
+All sales would be publicly broadcast within 24 hours, including the counterparty, the size, and the price of the sale.
+
+I would also have the option to sell up to $400,000 per day of META in ATM sales (into the open market, either with market or limit orders), up to a total of $2,000,000.
+
+The maximum amount of total proceeds would be $10,000,000.
+
+## **Pricing**
+
+The minimum price of these OTCs would be the higher of:  
+\- the market price, calculated as a 24-hour TWAP at the time of the agreement  
+\- a price of $4.80, equivalent to a \~$100M market capitalization
+
+That is, even if the market price dips below $100M, no OTC sales could occur below $100M. We may also execute at a price above these terms if there is sufficient demand. 
+
+## **Lockups / vesting**
+
+I would have ultimate discretion over any lockup and/or vesting terms.
+
+## Raw Data
+
+- Proposal account: `GfJhLniJENRzYTrYA9x75JaMc3DcEvoLKijtynx3yRSQ`
+- Proposal number: 3
+- DAO account: `Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km`
+- Proposer: `proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2`
+- Autocrat version: 0.5