rio: extract claims from 2026-03-30-telegram-m3taversal-futairdbot-what-was-the-first-project-to-raise-mo
- Source: inbox/queue/2026-03-30-telegram-m3taversal-futairdbot-what-was-the-first-project-to-raise-mo.md - Domain: internet-finance - Claims: 0, Entities: 2 - Enrichments: 1 - Extracted by: pipeline ingest (OpenRouter anthropic/claude-sonnet-4.5) Pentagon-Agent: Rio <PIPELINE>
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entities/internet-finance/saber-vote-market.md
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# Saber Vote Market
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**Type:** Protocol
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**Domain:** Internet Finance
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**Status:** Active
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## Overview
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Saber Vote Market was the first project to raise capital through MetaDAO's futarchy-governed process, predating the formal launchpad infrastructure.
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## Timeline
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- **2023-12-XX** — Raised $150K through MetaDAO futarchy governance, funded by consortium including UXD, BlazeStake, LP Finance, and Saber. First futarchy-governed fundraise on the platform.
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# Solomon (SOLO)
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type: entity
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entity_type: company
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name: "Solomon"
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domain: internet-finance
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handles: ["@solomon_labs"]
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website: https://solomonlabs.org
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status: active
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tracked_by: rio
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created: 2026-03-11
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last_updated: 2026-04-02
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parent: "[[metadao]]"
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launch_platform: metadao-curated
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launch_order: 8
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category: "Yield-bearing stablecoin protocol (Solana)"
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stage: growth
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token_symbol: "$SOLO"
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token_mint: "SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta"
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founded_by: "Ranga C (@oxranga)"
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built_on: ["Solana", "MetaDAO Autocrat"]
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tags: [metadao-curated-launch, ownership-coin, stablecoin, yield, treasury-management]
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competitors: ["Ethena", "Ondo Finance", "Mountain Protocol"]
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source_archive: "inbox/archive/2025-11-14-futardio-launch-solomon.md"
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---
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# Solomon
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**Type:** Protocol
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**Domain:** Internet Finance
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**Status:** Active
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## Overview
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## Overview
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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.
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Solomon (SOLO) was the first project to raise capital through MetaDAO's formal permissioned launchpad infrastructure.
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## Investment Rationale (from raise)
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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.
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## ICO Details
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- **Platform:** MetaDAO curated launchpad (8th launch)
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- **Date:** November 14-18, 2025
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- **Target:** $2M
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- **Committed:** $102.9M from 6,603 contributors (51.5x oversubscribed — largest in MetaDAO history)
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- **Final raise:** $8M (capped)
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- **Launch mechanism:** Futardio v0.6 (pro-rata)
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## Current State (as of early 2026)
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**Product:**
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- USDv live in **private beta** with seven-figure TVL
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- TVL reached **$3M** (30% growth from prior update)
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- sUSDv beta rate: **~20.9% APY**
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- YaaS integration progressing with a major neobank partner (Avici)
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- Cantina audit completed
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- Legal clearance ~1 month away
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**Token:** Trading ~$0.66-$0.85 range. Down from $1.41 ATH. Very low secondary volume (~$53/day).
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**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.
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## Governance Activity
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Solomon has the most sophisticated governance formation of any MetaDAO project — methodically building corporate-style governance scaffolding through futarchy approvals:
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| Decision | Date | Outcome | Record |
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|----------|------|---------|--------|
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| ICO launch | 2025-11-14 | Completed, $8M raised | [[solomon-futardio-launch]] |
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| DP-00001: Treasury subcommittee + legal budget | 2026-03 | Passed (+2.22% above TWAP threshold) | [[solomon-treasury-subcommittee]] |
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| DP-00002: $1M SOLO acquisition + restricted incentives reserve | 2026-03 | Passed | [[solomon-solo-acquisition]] |
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**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.
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**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.
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## Why Solomon Matters for MetaDAO
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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.
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## Open Questions
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- **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.
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- **"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.
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- **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?
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## Timeline
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## Timeline
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- **2025-11-14** — MetaDAO curated ICO opens ($2M target)
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- **2024-XX-XX** — First project to launch through MetaDAO's permissioned launchpad, following the earlier Saber Vote Market raise that predated the formal launchpad.
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- **2025-11-18** — ICO closes. $8M raised ($102.9M committed, 51.5x oversubscribed).
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- **2026-01** — Max 30% drawdown from launch price
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- **2026-02/03** — Lab Notes series published (Ranga documenting progress publicly)
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- **2026-03** — DP-00001: Treasury subcommittee + legal budget passed
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- **2026-03** — DP-00002: $1M SOLO acquisition + restricted reserve passed
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- **2026-03** — USDv private beta with $3M TVL, 20.9% APY
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---
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Relevant Notes:
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- [[metadao]] — launch platform (curated ICO #8)
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- [[avici]] — YaaS integration partner (neobank + yield)
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Topics:
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- [[internet finance and decision markets]]
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