ingestion: archive futardio proposal — 2024-05-30-futardio-proposal-drift-futarchy-proposal-welcome-the-futarchs.md
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type: source
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title: "Futardio: Drift Futarchy Proposal - Welcome the Futarchs"
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author: "futard.io"
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url: "https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS"
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date: 2024-05-30
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domain: internet-finance
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format: data
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status: unprocessed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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---
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## Proposal Details
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- Project: Drift
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- Proposal: Drift Futarchy Proposal - Welcome the Futarchs
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- Status: Passed
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- Created: 2024-05-30
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- URL: https://www.futard.io/proposal/9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS
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- Description: This proposal is meant to signal rewards for strong forecasters in futarchic markets.
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## Summary
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### 🎯 Key Points
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This proposal requests **50,000 DRIFT** to incentivize participation in Drift Futarchy by rewarding early participants and encouraging the formulation of future proposals.
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### 📊 Impact Analysis
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#### 👥 Stakeholder Impact
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MetaDAO participants will receive retroactive rewards based on their engagement, promoting active involvement in the community.
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#### 📈 Upside Potential
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The initiative could enhance proposal quality and community engagement within Drift Futarchy, fostering a more dynamic ecosystem.
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#### 📉 Risk Factors
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There is a risk of misallocation of funds or insufficient participation in future proposals, potentially undermining the intended incentives and program effectiveness.
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## Content
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## Overview
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This proposal requests **50,000 DRIFT** to carry out an early Drift Futarchy incentive program (max of 10 proposals / 3 months).
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This proposal is meant to signal rewards for strong forecasters in futarchic markets by:
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- Rewarding early and active participants of MetaDAO with tokens to participate in Drift Futarchy (via the ["endowment effect"](https://en.wikipedia.org/wiki/Endowment_effect))
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- Incentivizing future well-formulated proposals and activity for Drift Futarchy
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This proposal's outline is fulfilled over months by the executor group, acting as a 2/3 multisig, defined below.
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## Implementation
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### Retroactive Reward:
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Using the following dune dashboard data as reference: https://dune.com/metadaohogs/themetadao (with May 19th, 2024 UTC as a cutoff date)
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- [METADAO activity](https://gist.github.com/0xbigz/3ddbe2a21e721326d151ac957f96da20)
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- [META token holdings](https://gist.github.com/0xbigz/f461ed8accc6f86181d3e9a2c164f810)
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Among those who interacted with metadao's conditional vaults on at least 5 occassions over more period of 30 days, will recieve a retroactive reward as follows:
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- < 1 META, 100 DRIFT
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- \>= 1 META, 200 DRIFT
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- \>= 10 META, 400 DRIFT
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This [code](https://gist.github.com/0xbigz/a67d75f138c1c656353ab034936108fe) produces the following list of 32 MetaDAO participants who are qualified:
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https://gist.github.com/0xbigz/056d3f7780532ffa5662410bc49f7215
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**(9,600 DRIFT)**
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Additionally, all MetaDAO AMM swapers interacters https://dune.com/queries/3782545 who aren't included above should split remaining.
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crude snapshot: https://gist.github.com/0xbigz/adb2020af9ef0420b9026514bcb82eab
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**(2,400 DRIFT)**
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---
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### Future Incentive:
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*The following applies to the lengthlier of next 10 proposals or 3 month time frame*
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Additionally, excluding this instance, passing proposal that are honored by security council can earn up to 5000 DRIFT for the proposer(s), each claimable after 3 months after.
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(*if successful proposals exceed two, executor group can decide top N proposals to split*)
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**(10,000 DRIFT)**
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For accounts sufficiently active during the period, a pool of 20,000 DRIFT will be split and claimable after 3 months. To filter for non organic activity, the exact criteria for this shall be finalized by the execution group.
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**(25,000 DRIFT)**
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---
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### Execution Group:
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A 2/3 multisig to escrow and distribute funds based on outline. After successful completion of this proposal, they can distribute their allocation as they see fit.
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In the event of uncertainty or excess budget, funds shall be returned to originating wallet or Drift Futarchy DAO treasury.
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**(3,000 DRIFT)**
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- [metaprophet](https://x.com/metaproph3t)
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- [Sumatt](https://x.com/quantrarianism)
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- [Lmvdzande](https://x.com/Lmvdzande)
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## Raw Data
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- Proposal account: `9jAnAupCdPQCFvuAMr5ZkmxDdEKqsneurgvUnx7Az9zS`
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- Proposal number: 1
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- DAO account: `5vVCYQHPd8o3pGejYWzKZtnUSdLjXzDZcjZQxiFumXXx`
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- Proposer: `HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz`
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- Autocrat version: 0.3
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- Completed: 2024-06-02
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- Ended: 2024-06-02
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