From 30d12e2bedd3ce7b606c8aadd86ca64b174a2a98 Mon Sep 17 00:00:00 2001 From: m3taversal Date: Wed, 11 Mar 2026 18:50:13 +0000 Subject: [PATCH] Auto: entities/internet-finance/metadao-migrate-autocrat-v02.md | 1 file changed, 51 insertions(+) --- .../metadao-migrate-autocrat-v02.md | 51 +++++++++++++++++++ 1 file changed, 51 insertions(+) create mode 100644 entities/internet-finance/metadao-migrate-autocrat-v02.md diff --git a/entities/internet-finance/metadao-migrate-autocrat-v02.md b/entities/internet-finance/metadao-migrate-autocrat-v02.md new file mode 100644 index 00000000..87623384 --- /dev/null +++ b/entities/internet-finance/metadao-migrate-autocrat-v02.md @@ -0,0 +1,51 @@ +--- +type: entity +entity_type: decision_market +name: "MetaDAO: Migrate Autocrat Program to v0.2" +domain: internet-finance +status: passed +tracked_by: rio +created: 2026-03-11 +last_updated: 2026-03-11 +parent_entity: "[[metadao]]" +platform: "futardio" +proposer: "HenryE & Proph3t" +proposal_url: "https://www.futard.io/proposal/HXohDRKtDcXNKnWysjyjK8S5SvBe76J5o4NdcF4jj963" +proposal_date: 2024-03-28 +resolution_date: 2024-04-03 +category: mechanism +summary: "Upgrade Autocrat to v0.2 with reclaimable rent, conditional token merging, improved metadata, and lower pass threshold (5% to 3%)" +tags: ["futarchy", "autocrat", "mechanism-upgrade", "solana"] +--- + +# MetaDAO: Migrate Autocrat Program to v0.2 + +## Summary +Technical upgrade from Autocrat v0.1 to v0.2. Three new features: (1) reclaimable rent — recover ~4 SOL used to create proposal markets, lowering proposal creation friction; (2) conditional token merging — combine 1 pTOKEN + 1 fTOKEN back into 1 TOKEN, improving liquidity during multiple active proposals; (3) conditional token metadata — tokens show names and logos in wallets instead of raw mint addresses. Config changes: pass threshold lowered from 5% to 3%, default TWAP value set to $100, TWAP updates in $5 increments (enhancing manipulation resistance), minimum META lot size reduced from 1 to 0.1 META. + +## Market Data +- **Outcome:** Passed (2024-04-03) +- **Autocrat version:** 0.1 (last proposal on v0.1) +- **Key participants:** HenryE (author), Proph3t (author), OtterSec (program verification) + +## Significance +First major Autocrat upgrade approved through futarchy itself — MetaDAO used its own governance mechanism to upgrade its governance mechanism. The changes directly addressed friction points: high proposal creation costs (~4 SOL), liquidity fragmentation across proposals, and poor UX for conditional tokens. + +The pass threshold reduction from 5% to 3% is particularly noteworthy — it lowered the bar for proposals to pass, reflecting the team's belief that the original threshold was too conservative. The TWAP manipulation resistance improvements ($5 increments instead of 1%) show iterative mechanism refinement based on live experience. + +Programs deployed: autocrat_v0 (metaRK9dUBnrAdZN6uUDKvxBVKW5pyCbPVmLtUZwtBp), openbook_twap (twAP5sArq2vDS1mZCT7f4qRLwzTfHvf5Ay5R5Q5df1m), conditional_vault (vAuLTQjV5AZx5f3UgE75wcnkxnQowWxThn1hGjfCVwP). + +## Relationship to KB +- [[metadao]] — mechanism upgrade +- [[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]] — Autocrat evolution +- [[futarchy implementations must simplify theoretical mechanisms for production adoption because original designs include impractical elements that academics tolerate but users reject]] — iterative UX improvements +- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — directly addressed proposal creation friction + +--- + +Relevant Entities: +- [[metadao]] — parent organization +- [[proph3t]] — co-author + +Topics: +- [[internet finance and decision markets]]