diff --git a/entities/internet-finance/metadao-execute-creation-of-spot-market-for-meta.md b/entities/internet-finance/metadao-execute-creation-of-spot-market-for-meta.md new file mode 100644 index 000000000..2b24f261f --- /dev/null +++ b/entities/internet-finance/metadao-execute-creation-of-spot-market-for-meta.md @@ -0,0 +1,56 @@ +--- +type: entity +entity_type: decision_market +name: "MetaDAO: Execute Creation of Spot Market for META" +domain: internet-finance +status: passed +parent_entity: "[[metadao]]" +platform: "futardio" +proposer: "UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e" +proposal_url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF" +proposal_date: 2024-02-05 +resolution_date: 2024-02-10 +category: "treasury" +summary: "Authorized creation of META/USDC liquidity pool on Meteora using 4,130 META from treasury with multisig execution" +key_metrics: + meta_allocated: "4,130 META" + sale_allocation: "3,100 META" + lp_allocation: "1,000 META" + usdc_paired: "35,000 USDC" + initial_price: "35 USDC/META" + multisig_compensation: "30 META (5 per member)" + raise_target: "75,000 USDC" +tracked_by: rio +created: 2026-03-11 +--- + +# MetaDAO: Execute Creation of Spot Market for META + +## Summary +This proposal executed the fundraising mandate from Proposal 3 by establishing a structured process to raise capital and create a META/USDC liquidity pool. The mechanism used a 4/6 multisig (Proph3t, Dean, Nallok, Durden, Rar3, BlockchainFixesThis) to coordinate a private sale followed by liquidity pool creation on Meteora. + +## Market Data +- **Outcome:** Passed +- **Proposer:** UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e +- **Proposal Account:** HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF +- **DAO Account:** 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy +- **Autocrat Version:** 0.1 +- **Completed:** 2024-02-10 + +## Mechanism Design +The proposal implemented a multi-stage coordination process: +1. Demand collection via Google form +2. Manual allocation decisions by Proph3t +3. 48-hour USDC transfer window (Feb 5-7) +4. Backfill allocation for non-compliant participants (Feb 8) +5. Multisig execution: META distribution, LP creation, disbandment (Feb 9) + +The design explicitly acknowledged execution risk: "there is no algorithmic guarantee that the multisig members will actually perform this" but relied on reputational incentives ("unlikely that 4 or more of the multisig members would be willing to tarnish their reputation"). + +## Significance +This proposal demonstrates the hybrid nature of early futarchy implementations, where market-based governance authorizes actions but operational execution still requires trusted multisigs. The manual coordination steps (Google forms, discretionary allocation, compliance follow-up) reveal the gap between theoretical futarchy and production systems. + +## Relationship to KB +- [[metadao]] - treasury management decision +- [[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]] - implementation details +- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] - operational complexity evidence diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 9f0ae5600..81fd4ee77 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 +- **2024-02-05** — [[metadao-execute-creation-of-spot-market-for-meta]] proposed: raise 75,000 USDC and create META/USDC LP on Meteora using 4,130 META from treasury +- **2024-02-10** — [[metadao-execute-creation-of-spot-market-for-meta]] passed: executed spot market creation with initial price of 35 USDC/META ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/entities/internet-finance/meteora.md b/entities/internet-finance/meteora.md index d887a3f9e..6837cb8ce 100644 --- a/entities/internet-finance/meteora.md +++ b/entities/internet-finance/meteora.md @@ -37,6 +37,7 @@ Solana liquidity protocol offering Dynamic Liquidity Market Maker (DLMM) pools, - **2025-Q4** — Meteora LP generates $1.15M in fees for MetaDAO (Pine Analytics Q4 report) - **2025-10 to 2026-03** — Every Futardio launch allocates 900K tokens to Meteora pool as standard template +- **2024-02-09** — MetaDAO created META/USDC liquidity pool on Meteora with 1,000 META paired with 35,000 USDC (initial price: 35 USDC/META) ## Competitive Position - **Infrastructure role**: Not competing with MetaDAO — provides complementary liquidity infrastructure. Meteora is the LP venue; Futarchic AMM is the governance venue. - **vs Raydium**: Both are major Solana AMMs. Raydium offers CLMM (concentrated liquidity). Meteora differentiates with DLMM and dynamic bonding pools. diff --git a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md index 6b11e782c..2b347df2e 100644 --- a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md +++ b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md @@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4t date: 2024-02-05 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", "futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.md"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Proposal contains primarily operational/factual data about MetaDAO's spot market creation process. No novel claims extracted - the mechanism details enrich existing claims about Autocrat implementation complexity and futarchy adoption friction. Created decision_market entity for the proposal itself and updated parent entity timelines." --- ## Proposal Details @@ -61,3 +66,10 @@ Obviously, there is no algorithmic guarantee that the multisig members will actu - Autocrat version: 0.1 - Completed: 2024-02-10 - Ended: 2024-02-10 + + +## Key Facts +- MetaDAO Proposal 5 allocated 4,130 META: 3,100 to sale participants, 1,000 for LP, 30 for multisig compensation (2024-02-05) +- META spot market initial price set at 35 USDC/META via 1,000 META + 35,000 USDC pairing (2024-02-09) +- MetaDAO used 4/6 multisig for operational execution: Proph3t, Dean, Nallok, Durden, Rar3, BlockchainFixesThis (2024-02-05) +- Proposal 5 raised 75,000 USDC target through private sale with manual allocation and compliance follow-up (2024-02-05 to 2024-02-09)