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 4) 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 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_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 through manual Dutch auction on OpenBook to acquire USDC for liquidity provision on Meteora"
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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 Dutch Auction
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## Summary
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Proposal 10 addressed MetaDAO's low liquidity and high volatility by selling 1,000 META through a manually executed Dutch auction on OpenBook, pairing the acquired USDC with META to provide liquidity on Meteora, and migrating all DAO liquidity from the 4% fee pool to the 1% fee pool for improved capital efficiency.
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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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- **DAO Account:** 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy
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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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The proposal used a manual Dutch auction rather than automated smart contracts to reduce execution risk. Auction mechanics:
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- Starting price: 50% above spot
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- Price reduction: 5% every 24 hours if ask remains >6% above spot
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- Tranche size: 100 META per ask
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- New tranche trigger: When filled, place new ask 10% above spot
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- Total volume: 1,000 META
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Execution through 3/5 Squads multisig (LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi) with members:
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- Durden (91NjPFfJxQw2FRJvyuQUQsdh9mBGPeGPuNavt7nMLTQj)
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- Ben H (Hu8qped4Cj7gQ3ChfZvZYrtgy2Ntr6YzfN7vwMZ2SWii)
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- Nico (6kDGqrP4Wwqe5KBa9zTrgUFykVsv4YhZPDEX22kUsDMP)
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- joebuild (XXXvLz1B89UtcTsg2hT3cL9qUJi5PqEEBTHg57MfNkZ)
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- Dodecahedr0x (UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e)
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## Capital Allocation
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- META to be sold: 1,000
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- META for liquidity pairing: 2,000 (buffer for price appreciation)
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- META for compensation: 5.45
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- **Total META requested:** 3,005.45
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Compensation determined through sealed-bid auction among multisig candidates:
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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: 5 META (for market creation and execution)
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## Liquidity Strategy
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The proposal consolidated MetaDAO's liquidity management:
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1. Multisig holding 4% fee pool LP tokens transfers to proposal multisig
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2. USDC from META sales paired with META and added to 4% pool
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3. After 1,000 META sold, all liquidity migrated to 1% fee pool
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4. LP tokens sent to treasury as permanent liquidity
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Rationale: "low volume and high volatility of META" created "little incentive to provide liquidity (low fees, high risk of impermanent loss)" while "strong demand for META" from oversubscribed raise (proposal 3) and notable buyers indicated favorable conditions for treasury sales.
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## Significance
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This proposal demonstrates futarchy-governed treasury management in practice: the DAO selling its own governance token to acquire stablecoins for liquidity provision, using market-based price discovery through Dutch auction mechanics, and optimizing fee tier allocation for capital efficiency. The sealed-bid auction for multisig compensation shows mechanism design extending to operational roles, not just capital allocation decisions.
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## Relationship to KB
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- [[metadao]] - treasury management decision
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- [[meteora]] - liquidity venue
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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 example of Autocrat
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- [[MetaDAO is the futarchy launchpad on Solana where projects raise capital through unruggable ICOs governed by conditional markets creating the first platform for ownership coins at scale]] - treasury operations context
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@ -53,6 +53,8 @@ The futarchy governance protocol on Solana. Implements decision markets through
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- **2026-03** — Ranger liquidation proposal; treasury subcommittee formation
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- **2026-03** — Pine Analytics Q4 2025 quarterly report published
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- **2024-02-26** — [[metadao-increase-meta-liquidity-dutch-auction]] proposed: sell 1,000 META via Dutch auction to acquire USDC for liquidity provision on Meteora
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- **2024-03-02** — [[metadao-increase-meta-liquidity-dutch-auction]] passed: approved treasury sale of 1,000 META and migration of all DAO liquidity to Meteora 1% fee pool
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## Competitive Position
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- **First mover** in futarchy-governed organizations at scale
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- **No direct competitor** for conditional-market governance on Solana
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@ -37,6 +37,7 @@ Solana liquidity protocol offering Dynamic Liquidity Market Maker (DLMM) pools,
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- **2025-Q4** — Meteora LP generates $1.15M in fees for MetaDAO (Pine Analytics Q4 report)
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- **2025-10 to 2026-03** — Every Futardio launch allocates 900K tokens to Meteora pool as standard template
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- **2024-02-26** — MetaDAO proposal 10 selected Meteora for META/USDC liquidity provision, planning migration from 4% fee pool to 1% fee pool for improved capital efficiency
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## Competitive Position
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- **Infrastructure role**: Not competing with MetaDAO — provides complementary liquidity infrastructure. Meteora is the LP venue; Futarchic AMM is the governance venue.
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- **vs Raydium**: Both are major Solana AMMs. Raydium offers CLMM (concentrated liquidity). Meteora differentiates with DLMM and dynamic bonding pools.
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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", "MetaDAO-is-the-futarchy-launchpad-on-Solana-where-projects-raise-capital-through-unruggable-ICOs-governed-by-conditional-markets-creating-the-first-platform-for-ownership-coins-at-scale.md"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "This is a governance proposal, not a novel mechanism claim. The primary extraction is the decision_market entity capturing the proposal details. Enrichments added to existing MetaDAO claims provide operational context for how Autocrat works in practice and how MetaDAO manages its treasury. No new claims warranted—the proposal demonstrates existing mechanisms rather than introducing new ones. The sealed-bid auction for multisig compensation is interesting but insufficient for a standalone claim without broader pattern evidence."
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---
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## Proposal Details
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@ -116,3 +121,13 @@ 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 account: Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT
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- Proposal 10 multisig: LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi (3/5 Squads)
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- Dutch auction starting price: 50% above spot, reducing 5% every 24h if >6% above spot
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- Total META requested: 3,005.45 (1,000 sale + 2,000 liquidity + 5.45 compensation)
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- Multisig compensation via sealed-bid auction: Ben H (0), Nico (0), joebuild (0.2), Dodecahedr0x (0.25), proposal creator (5)
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- Meteora pools: migrated from 4% fee tier to 1% fee tier
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- Proposal created 2024-02-26, passed 2024-03-02
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