diff --git a/entities/internet-finance/isc-stablecoin.md b/entities/internet-finance/isc-stablecoin.md new file mode 100644 index 000000000..4ef440439 --- /dev/null +++ b/entities/internet-finance/isc-stablecoin.md @@ -0,0 +1,22 @@ +--- +type: entity +entity_type: company +name: "ISC (Inflation-Resistant Stablecoin)" +domain: internet-finance +status: active +tracked_by: rio +created: 2026-03-11 +--- + +# ISC (Inflation-Resistant Stablecoin) + +## Overview +ISC is a Solana-native stablecoin designed as an inflation-resistant alternative to USD-pegged stablecoins. Unlike traditional stablecoins pegged to the dollar, ISC is collateralized by a diversified basket of financial assets: 20% cash, 20% commodities, 20% treasuries, 20% bonds, and 20% equities. Launched at the Solana Hacker House in Ho Chi Minh City on 2023-03-17 at $1.545, ISC has appreciated to $1.81 as of late 2024. + +## Timeline +- **2023-03-17** — ISC launched at Solana Hacker House in HCMC at initial price of $1.545 +- **2024-10-30** — ISC team proposed MetaDAO swap $150K USDC into ISC; proposal failed on 2024-11-03 + +## Relationship to KB +- [[metadao-swap-150k-into-isc]] - failed governance proposal for treasury diversification into ISC +- Represents alternative stablecoin design philosophy: inflation-resistant basket collateralization vs USD peg diff --git a/entities/internet-finance/metadao-swap-150k-into-isc.md b/entities/internet-finance/metadao-swap-150k-into-isc.md new file mode 100644 index 000000000..4ad88ba27 --- /dev/null +++ b/entities/internet-finance/metadao-swap-150k-into-isc.md @@ -0,0 +1,54 @@ +--- +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 to 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 USD devaluation while encouraging other DAOs to adopt similar treasury diversification strategies using MetaDAO's futarchy governance. + +## Market Data +- **Outcome:** Failed +- **Proposer:** @Richard_ISC (ISC team member) +- **Proposal Account:** Gp3ANMRTdGLPNeMGFUrzVFaodouwJSEXHbg5rFUi9roJ +- **Proposal Number:** 8 +- **Created:** 2024-10-30 +- **Completed:** 2024-11-03 + +## Proposal Details +The proposal called for executing a DCA (Dollar Cost Averaging) order on Jupiter with the following parameters: +- Amount: 150,000 USDC +- To buy: ISC +- Frequency: Every 1 hour +- Total orders: 10 +- Min price: $1.70 +- Max price: $1.90 + +## Rationale +The proposal argued that holding USDC poses risk given USD devaluation (17.8% loss since 2020). ISC is collateralized by a diversified basket: 20% cash, 20% commodities, 20% treasuries, 20% bonds, 20% equities. ISC launched at $1.545 on 2023-03-17 and was trading at $1.81 at proposal time. + +The ISC team offered to use MetaDAO futarchy for part of ISC DAO governance once established, creating potential reciprocal relationship. + +## Significance +This proposal represents an attempt to use futarchy governance for treasury diversification into alternative stablecoins. The failure suggests MetaDAO token holders were either unconvinced by the inflation hedge thesis, concerned about ISC's smaller market presence compared to USDC, or skeptical of proposals from external parties with vested interest (ISC team member as proposer). + +The proposal also illustrates futarchy's role in evaluating treasury management decisions with clear risk-reward tradeoffs. + +## Relationship to KB +- [[metadao]] - parent organization, treasury governance decision +- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] - example of treasury management through futarchy +- [[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..6779c7089 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-150k-into-isc]] failed: Proposal to swap $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..4c400b6c6 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: "Proposal-specific source. Primary extraction is the decision_market entity for the failed treasury diversification proposal. Created new entity for ISC stablecoin as it represents a significant alternative stablecoin project on Solana. No novel claims about futarchy mechanisms or treasury management beyond what existing KB already covers - this is a straightforward application of existing futarchy governance to a treasury decision. The proposal's failure provides data point but doesn't generate new theoretical insight." --- ## 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 approximately $2.2M USDC as of 2024-10-30 +- USD lost 17.8% of value since 2020 (cited in proposal) +- ISC launched 2023-03-17 at $1.545, trading at $1.81 by late 2024 +- ISC collateralization: 20% cash, 20% commodities, 20% treasuries, 20% bonds, 20% equities