diff --git a/entities/internet-finance/metadao-swap-150000-into-isc.md b/entities/internet-finance/metadao-swap-150000-into-isc.md new file mode 100644 index 000000000..31c22681e --- /dev/null +++ b/entities/internet-finance/metadao-swap-150000-into-isc.md @@ -0,0 +1,46 @@ +--- +type: entity +entity_type: decision_market +name: "MetaDAO: Swap $150,000 into ISC?" +domain: internet-finance +status: failed +parent_entity: "[[metadao]]" +platform: "futardio" +proposer: "@Richard_ISC" +proposal_url: "https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ" +proposal_date: 2024-10-30 +resolution_date: 2024-11-03 +category: "treasury" +summary: "Proposal to convert $150,000 USDC (6.8% of treasury) into ISC stablecoin as hedge against dollar devaluation" +tracked_by: rio +created: 2026-03-11 +--- + +# MetaDAO: Swap $150,000 into ISC? + +## Summary +MetaDAO proposed converting $150,000 USDC (approximately 6.8% of its $2.2M treasury) into ISC, a Solana-native inflation-resistant stablecoin. The proposal aimed to hedge against dollar devaluation while encouraging other DAOs to adopt similar treasury strategies and use MetaDAO's futarchy governance. + +## Market Data +- **Outcome:** Failed +- **Proposer:** @Richard_ISC (ISC team member) +- **Treasury Context:** MetaDAO held ~$2.2M USDC at proposal time +- **Proposed Allocation:** 6.8% of treasury +- **Execution Method:** DCA order on Jupiter (10 orders over 10 hours, price range $1.70-$1.90) + +## Proposal Details +The ISC team positioned this as a win-win-win: +1. MetaDAO hedges against USD devaluation (17.8% loss since 2020 cited) +2. Promotes Solana-native projects +3. Showcases futarchy for other DAOs considering treasury diversification + +ISC committed to using MetaDAO futarchy for governance decisions (freeze authority removal, basket composition changes) if the proposal passed. + +## Significance +This proposal tested whether futarchy markets would approve treasury diversification into nascent stablecoins based on inflation hedging arguments. The failure suggests MetaDAO token holders prioritized liquidity and established assets over experimental inflation hedges, even at modest allocation percentages. + +The proposal also represented an attempt by the ISC team to bootstrap adoption through treasury diversification rather than organic market demand. + +## 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]] - governance mechanism used diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 9f0ae5600..f8ce2c6e4 100644 --- a/entities/internet-finance/metadao.md +++ b/entities/internet-finance/metadao.md @@ -54,6 +54,7 @@ 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 +- **2024-10-30** — [[metadao-swap-150000-into-isc]] failed: Proposal to convert $150K USDC (6.8% of treasury) into ISC stablecoin rejected by futarchy markets ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md b/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md index fe3b3b31c..6eb33c051 100644 --- a/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md +++ b/inbox/archive/2024-10-30-futardio-proposal-swap-150000-into-isc.md @@ -6,9 +6,13 @@ url: "https://www.futard.io/proposal/Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9ro date: 2024-10-30 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 +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Single failed treasury diversification proposal. No novel claims about futarchy mechanisms or treasury management principles - just a specific allocation decision that markets rejected. Entity extraction only." --- ## Proposal Details @@ -92,3 +96,10 @@ Potential pitfalls: - Autocrat version: 0.3 - Completed: 2024-11-03 - Ended: 2024-11-03 + + +## Key Facts +- MetaDAO treasury held ~$2.2M USDC as of 2024-10-30 +- ISC stablecoin launched 2023-03-17 at $1.545, trading at $1.81 by proposal date +- ISC collateralized by basket: 20% cash, 20% commodities, 20% treasuries, 20% bonds, 20% equities +- USD lost 17.8% value since 2020 (cited by proposer)