diff --git a/entities/internet-finance/metadao-develop-saber-vote-market.md b/entities/internet-finance/metadao-develop-saber-vote-market.md new file mode 100644 index 00000000..6aa38192 --- /dev/null +++ b/entities/internet-finance/metadao-develop-saber-vote-market.md @@ -0,0 +1,66 @@ +--- +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 (metaproph3t)" +proposal_url: "https://www.futard.io/proposal/GPT8dFcpHfssMuULYKT9qERPY3heMoxwZHxgKgPw3TYM" +proposal_date: 2023-12-16 +resolution_date: 2023-12-22 +category: "strategy" +summary: "Proposal to build a Saber vote market funded by $150k consortium, with MetaDAO owning majority and earning revenue from vote trading fees" +tracked_by: rio +created: 2026-03-11 +--- + +# MetaDAO: Develop a Saber Vote Market? + +## Summary +Proposal to build a vote market for Saber's veSBR holders, funded by a $150k consortium of ecosystem teams (UXD, BlazeStake, LP Finance, Saber). MetaDAO would own the majority of the platform, with $62k allocated to development costs and $90k reserved for ongoing operations. The platform would enable veSBR holders to earn yield by selling their votes and allow projects to acquire liquidity more efficiently than through bespoke campaigns. + +## Market Data +- **Outcome:** Passed +- **Proposer:** Proph3t (metaproph3t) +- **Proposal Account:** GPT8dFcpHfssMuULYKT9qERPY3heMoxwZHxgKgPw3TYM +- **Completed:** 2023-12-22 +- **Autocrat Version:** 0.1 + +## Financial Structure +- **Total Funding:** $150,000 from consortium +- **Development Budget:** $62,000 + - Smart contracts (Matt/fzzyyti): $24,000 + - UI/UX (Marie): $12,000 + - Platform design (Durden): $7,000 + - Program management (Proph3t): $7,000 + - Audits (r0bre, joe): $10,000 combined + - Deployment/misc: $2,000 +- **Treasury Reserve:** $88,000 for operations and maintenance +- **Revenue Model:** 5-15% take rate on vote trades + +## Revenue Projections +Based on Curve and Aura benchmarks, estimated $1 in yearly vote trade volume per $50 of Saber TVL. With Saber's $20M TVL at the time, projected $400k annual volume. At 15% take rate and 65% MetaDAO ownership, estimated $39k annual revenue to MetaDAO. + +## Timeline +- **Kickoff:** December 11-15, 2023 +- **Development:** December 18 - February 9, 2024 (with holiday break) +- **Audit:** January 29 - February 2, 2024 +- **Launch:** February 19, 2024 + +## Team +- Marie (swagy_marie): UI/UX +- Matt (fzzyyti): Smart contracts +- Durden (durdenwannabe): Platform design & tokenomics +- Joe (joebuild) & r0bre: Contract audits +- Proph3t (metaproph3t): Program manager + +## Significance +This proposal demonstrates MetaDAO's pivot from building its own vote market (Marinade, proposal 0) to providing futarchy-governed infrastructure as a service for other protocols. It shows MetaDAO's legitimacy-building strategy through partnerships with established Solana projects and represents an early test of the "futarchy as a service" model. The multi-party funding consortium structure ($150k from 4+ teams) validates external demand for MetaDAO's governance technology. + +## Relationship to KB +- [[metadao]] - strategic direction toward infrastructure provider +- [[futardio]] - platform hosting this proposal +- [[proph3t]] - proposer and program manager +- [[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]] - governance mechanism used \ No newline at end of file diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 9f0ae560..2e139d57 100644 --- a/entities/internet-finance/metadao.md +++ b/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 funded by $150k consortium from UXD, BlazeStake, LP Finance, and Saber +- **2023-12-22** — [[metadao-develop-saber-vote-market]] passed: Approved development of Saber vote market with $62k development budget and $90k treasury reserve ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/entities/internet-finance/proph3t.md b/entities/internet-finance/proph3t.md index 6ebf9239..e2b03678 100644 --- a/entities/internet-finance/proph3t.md +++ b/entities/internet-finance/proph3t.md @@ -44,3 +44,7 @@ Relevant Entities: Topics: - [[internet finance and decision markets]] + +## Timeline + +- **2023-12-16** — Proposed [[metadao-develop-saber-vote-market]]: $150k consortium-funded Saber vote market with MetaDAO as majority owner and service provider diff --git a/entities/internet-finance/saber.md b/entities/internet-finance/saber.md new file mode 100644 index 00000000..0a872022 --- /dev/null +++ b/entities/internet-finance/saber.md @@ -0,0 +1,27 @@ +--- +type: entity +entity_type: company +name: "Saber" +domain: internet-finance +status: active +website: "https://saber.so" +founded: null +key_people: + - "c2yptic" +key_metrics: + tvl: "$20M (as of December 2023)" +tracked_by: rio +created: 2026-03-11 +--- + +# Saber + +## Overview +Saber is a Solana-based decentralized exchange focused on stablecoin and wrapped asset trading. The protocol uses a vote-escrowed token model (veSBR) where token holders lock SBR to gain governance rights over liquidity gauge emissions. As of December 2023, Saber had $20M in TVL and was planning to implement a vote market to enable veSBR holders to monetize their voting power. + +## Timeline +- **2023-12-16** — Partnered with MetaDAO to build vote market infrastructure, contributing to $150k funding consortium alongside UXD, BlazeStake, and LP Finance + +## Relationship to KB +- [[metadao-develop-saber-vote-market]] - governance infrastructure partnership +- [[metadao]] - futarchy infrastructure provider \ No newline at end of file diff --git a/inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md b/inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md index 1bcf9ed2..d455a48c 100644 --- a/inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md +++ b/inbox/archive/2023-12-16-futardio-proposal-develop-a-saber-vote-market.md @@ -6,9 +6,14 @@ 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 +enrichments_applied: ["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.md", "MetaDAO-is-the-futarchy-launchpad-on-Solana-where-projects-raise-capital-through-unruggable-ICOs-governed-by-conditional-markets-creating-the-first-platform-for-ownership-coins-at-scale.md", "futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements.md"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "This is a decision_market entity extraction, not a claim extraction. The proposal itself contains no novel mechanism insights - it applies existing vote market concepts (Curve/Convex/Votium model) to Saber. The value is in the governance event and the strategic pivot it represents for MetaDAO (from building own products to providing infrastructure as a service). Enrichments focus on operational complexity, multi-party coordination, and MetaDAO's evolving positioning. Created new entity for Saber as it's a significant Solana protocol with $20M TVL and ongoing relationship with MetaDAO." --- ## Proposal Details @@ -201,3 +206,13 @@ 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 had $20M TVL as of December 2023 +- Curve had $2B TVL with $1.25M in biweekly vote incentives (December 2023) +- Curve had $20B TVL with $15-20M biweekly vote incentives before Luna depeg +- Aura had $600M TVL with $900k biweekly vote incentives (May 2023) +- Convex charges 7-10% take rate on vote markets +- Votium charges ~3% take rate +- Hidden Hand charges ~10% take rate