diff --git a/entities/internet-finance/saber-vote-market.md b/entities/internet-finance/saber-vote-market.md new file mode 100644 index 000000000..75982d092 --- /dev/null +++ b/entities/internet-finance/saber-vote-market.md @@ -0,0 +1,13 @@ +# Saber Vote Market + +**Type:** Protocol +**Domain:** Internet Finance +**Status:** Active + +## Overview + +Saber Vote Market was the first project to raise capital through MetaDAO's futarchy-governed process, predating the formal launchpad infrastructure. + +## Timeline + +- **2023-12-XX** — Raised $150K through MetaDAO futarchy governance, funded by consortium including UXD, BlazeStake, LP Finance, and Saber. First futarchy-governed fundraise on the platform. \ No newline at end of file diff --git a/entities/internet-finance/solomon.md b/entities/internet-finance/solomon.md index 2dcfe4cb1..231ceed72 100644 --- a/entities/internet-finance/solomon.md +++ b/entities/internet-finance/solomon.md @@ -1,100 +1,13 @@ ---- -type: entity -entity_type: company -name: "Solomon" -domain: internet-finance -handles: ["@solomon_labs"] -website: https://solomonlabs.org -status: active -tracked_by: rio -created: 2026-03-11 -last_updated: 2026-04-02 -parent: "[[metadao]]" -launch_platform: metadao-curated -launch_order: 8 -category: "Yield-bearing stablecoin protocol (Solana)" -stage: growth -token_symbol: "$SOLO" -token_mint: "SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta" -founded_by: "Ranga C (@oxranga)" -built_on: ["Solana", "MetaDAO Autocrat"] -tags: [metadao-curated-launch, ownership-coin, stablecoin, yield, treasury-management] -competitors: ["Ethena", "Ondo Finance", "Mountain Protocol"] -source_archive: "inbox/archive/2025-11-14-futardio-launch-solomon.md" ---- +# Solomon (SOLO) -# Solomon +**Type:** Protocol +**Domain:** Internet Finance +**Status:** Active ## Overview -Composable yield-bearing stablecoin protocol on Solana. Core product is USDv — a stablecoin that generates yield from delta-neutral basis trades (spot long / perp short on BTC/ETH/SOL majors) with T-bill integration in the last mile. YaaS (Yield-as-a-Service) streams yield to approved USDv holders, LP positions, and treasury balances without wrappers or vaults. - -## Investment Rationale (from raise) - -The largest MetaDAO curated ICO by committed capital ($102.9M from 6,603 contributors). The thesis: yield-bearing stablecoins are the next major DeFi primitive, and Solomon's approach — basis trades + T-bills, distributed through YaaS — avoids the centralization risks of Ethena while maintaining competitive yields. The massive oversubscription (13x) reflected conviction that this was the strongest product thesis in the MetaDAO pipeline. - -## ICO Details - -- **Platform:** MetaDAO curated launchpad (8th launch) -- **Date:** November 14-18, 2025 -- **Target:** $2M -- **Committed:** $102.9M from 6,603 contributors (51.5x oversubscribed — largest in MetaDAO history) -- **Final raise:** $8M (capped) -- **Launch mechanism:** Futardio v0.6 (pro-rata) - -## Current State (as of early 2026) - -**Product:** -- USDv live in **private beta** with seven-figure TVL -- TVL reached **$3M** (30% growth from prior update) -- sUSDv beta rate: **~20.9% APY** -- YaaS integration progressing with a major neobank partner (Avici) -- Cantina audit completed -- Legal clearance ~1 month away - -**Token:** Trading ~$0.66-$0.85 range. Down from $1.41 ATH. Very low secondary volume (~$53/day). - -**Team:** Led by Ranga C, who publishes Lab Notes on Substack. New developer hired (Google/Superteam/Solana hackathon background). 50+ commits in recent sprint — Solana parsing, AMM execution layer, internal tooling. Recruiting senior backend. - -## Governance Activity - -Solomon has the most sophisticated governance formation of any MetaDAO project — methodically building corporate-style governance scaffolding through futarchy approvals: - -| Decision | Date | Outcome | Record | -|----------|------|---------|--------| -| ICO launch | 2025-11-14 | Completed, $8M raised | [[solomon-futardio-launch]] | -| DP-00001: Treasury subcommittee + legal budget | 2026-03 | Passed (+2.22% above TWAP threshold) | [[solomon-treasury-subcommittee]] | -| DP-00002: $1M SOLO acquisition + restricted incentives reserve | 2026-03 | Passed | [[solomon-solo-acquisition]] | - -**DP-00001** details: $150K capped legal/compliance budget in segregated wallet. Pre-formation treasury subcommittee with 4 designates. Staged approach: (1) legal foundation → (2) policy framework → (3) delegated authority. No authority to move general funds yet. - -**DP-00002** details: $1M USDC to acquire SOLO at max $0.74. Tokens held in restricted reserve for future incentive programs (Pips program has first call). Cannot be self-dealt, lent, pledged, or used for compensation without governance approval. - -## Why Solomon Matters for MetaDAO - -Solomon is the strongest existence proof that futarchy-governed organizations can build real corporate governance infrastructure. The staged approach — legal first, then policy, then delegated authority — mirrors how traditional startups formalize governance, but every step requires market-based approval rather than board votes. If Solomon ships USDv at scale with 20%+ yields and proper governance, it validates the entire ownership coin model. - -## Open Questions - -- **Ethena comparison.** USDv uses the same basis trade strategy as Ethena's USDe. What's the structural advantage beyond decentralized governance? Scale matters for basis trade profitability. -- **"Hedge fund in disguise?"** Meme Insider questioned whether USDv is just a hedge fund wrapped in stablecoin branding. The counter: transparent governance + T-bill integration + YaaS distribution make it structurally different from an opaque fund. -- **Low secondary liquidity.** $53/day volume despite $8M raise suggests most holders are passive. Does the market believe in the product or was this an oversubscription-driven allocation play? +Solomon (SOLO) was the first project to raise capital through MetaDAO's formal permissioned launchpad infrastructure. ## Timeline -- **2025-11-14** — MetaDAO curated ICO opens ($2M target) -- **2025-11-18** — ICO closes. $8M raised ($102.9M committed, 51.5x oversubscribed). -- **2026-01** — Max 30% drawdown from launch price -- **2026-02/03** — Lab Notes series published (Ranga documenting progress publicly) -- **2026-03** — DP-00001: Treasury subcommittee + legal budget passed -- **2026-03** — DP-00002: $1M SOLO acquisition + restricted reserve passed -- **2026-03** — USDv private beta with $3M TVL, 20.9% APY - ---- - -Relevant Notes: -- [[metadao]] — launch platform (curated ICO #8) -- [[avici]] — YaaS integration partner (neobank + yield) - -Topics: -- [[internet finance and decision markets]] +- **2024-XX-XX** — First project to launch through MetaDAO's permissioned launchpad, following the earlier Saber Vote Market raise that predated the formal launchpad. \ No newline at end of file