rio: extract from 2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md
- Source: inbox/archive/2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) Pentagon-Agent: Rio <HEADLESS>
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---
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type: entity
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entity_type: decision_market
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name: "MetaDAO: Increase META Liquidity via a Dutch Auction"
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domain: internet-finance
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status: passed
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parent_entity: "[[metadao]]"
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platform: "futardio"
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proposer: "prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ"
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proposal_url: "https://www.futard.io/proposal/Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT"
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proposal_account: "Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT"
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proposal_number: 10
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proposal_date: 2024-02-26
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resolution_date: 2024-03-02
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category: "treasury"
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summary: "Sell 1,000 META via manual Dutch auction on OpenBook to acquire USDC for liquidity pairing on Meteora"
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key_metrics:
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meta_sold: "1,000"
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meta_for_liquidity: "2,000"
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total_meta_requested: "3,005.45"
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compensation_meta: "5.45"
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multisig_size: "3/5"
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tracked_by: rio
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created: 2026-03-11
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---
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# MetaDAO: Increase META Liquidity via a Dutch Auction
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## Summary
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Proposal to address META's low liquidity and high volatility by selling 1,000 META through a manual Dutch auction executed on OpenBook, then pairing the acquired USDC with META to provide liquidity on Meteora's fee pools. The auction used a descending price mechanism starting 50% above spot, lowering 5% every 24 hours, with 100 META tranches.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ
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- **Proposal Account:** Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT
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- **Proposal Number:** 10
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- **Autocrat Version:** 0.1
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- **Created:** 2024-02-26
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- **Completed:** 2024-03-02
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## Mechanism Design
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- Manual Dutch auction via OpenBook
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- 100 META tranches, starting 50% above spot price
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- Price reduction: 5% every 24 hours if >6% above spot
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- New asks placed 10% above spot when filled
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- 3/5 multisig execution (LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi)
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- Final liquidity moved to Meteora 1% fee pool
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## Compensation Structure
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Sealed-bid auction for multisig positions:
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- Ben H: 0 META
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- Nico: 0 META
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- joebuild: 0.2 META
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- Dodecahedr0x: 0.25 META
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- Proposal creator (Durden): 5 META
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- **Total:** 5.45 META
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## Significance
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Demonstrates futarchy-governed treasury management with minimal governance overhead. The sealed-bid compensation mechanism and low multisig compensation (0-0.25 META per member) reveals limited competitive interest in uncontested operational proposals. The manual Dutch auction approach prioritized simplicity and low smart contract risk over mechanism sophistication.
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## Relationship to KB
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- [[metadao]] - treasury management decision
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- [[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]] - operational implementation example
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- [[meteora]] - liquidity destination platform
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@ -54,6 +54,8 @@ The futarchy governance protocol on Solana. Implements decision markets through
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- **2026-03** — Pine Analytics Q4 2025 quarterly report published
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- **2024-02-18** — [[metadao-otc-trade-pantera-capital]] failed: Pantera Capital's $50,000 OTC purchase proposal rejected by futarchy markets
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- **2024-02-26** — [[metadao-increase-meta-liquidity-dutch-auction]] proposed: sell 1,000 META via manual Dutch auction on OpenBook to acquire USDC for Meteora liquidity pairing
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- **2024-03-02** — [[metadao-increase-meta-liquidity-dutch-auction]] passed: completed Dutch auction and liquidity provision, moving all protocol-owned liquidity to Meteora 1% fee pool
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## Key Decisions
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| Date | Proposal | Proposer | Category | Outcome |
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|------|----------|----------|----------|---------|
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@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVV
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date: 2024-02-26
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domain: internet-finance
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format: data
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status: unprocessed
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status: processed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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processed_by: rio
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processed_date: 2026-03-11
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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", "MetaDAOs futarchy implementation shows limited trading volume in uncontested decisions.md"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Proposal 10 is primarily operational/treasury management with no novel mechanism claims. The Dutch auction was manually executed (not programmatic), making it a governance case study rather than a mechanism innovation. Extracted as decision_market entity with enrichments to existing futarchy implementation claims. The sealed-bid multisig compensation structure (0-0.25 META) provides evidence for limited trading volume in uncontested decisions."
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---
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## Proposal Details
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@ -116,3 +121,12 @@ This proposal will significantly increase Meta DAO's protocol-owned liquidity as
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- Autocrat version: 0.1
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- Completed: 2024-03-02
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- Ended: 2024-03-02
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## Key Facts
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- MetaDAO Proposal 10 requested 3,005.45 total META (1,000 to sell, 2,000 for liquidity pairing, 5.45 compensation)
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- Multisig address: LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi (3/5 threshold)
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- Multisig members: Durden (91NjPFfJxQw2FRJvyuQUQsdh9mBGPeGPuNavt7nMLTQj), Ben H (Hu8qped4Cj7gQ3ChfZvZYrtgy2Ntr6YzfN7vwMZ2SWii), Nico (6kDGqrP4Wwqe5KBa9zTrgUFykVsv4YhZPDEX22kUsDMP), joebuild (XXXvLz1B89UtcTsg2hT3cL9qUJi5PqEEBTHg57MfNkZ), Dodecahedr0x (UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e)
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- Dutch auction mechanics: start 50% above spot, lower 5% every 24h if >6% above spot, new asks at 10% above spot when filled
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- Liquidity destination: Meteora 4% fee pool initially, then consolidated to 1% fee pool
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- DAO account: 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy
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