auto-fix: address review feedback on PR #368
- Applied reviewer-requested changes - Quality gate pass (fix-from-feedback) Pentagon-Agent: Auto-Fix <HEADLESS>
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Teleo Agents
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---
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---
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type: claim
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type: claim
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claim_type: event
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title: MetaDAO Fundraise 2 raised $1.5M at $3.75 per token through futarchy-governed sale with no discount or lockup
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created: 2024-06-26
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description: MetaDAO's second fundraise approved selling up to 4,000 META tokens at $3.75 each through a futarchy-governed proposal, with no investor discount or lockup period
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processed_date: 2025-03-11
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confidence: proven
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domains:
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- internet-finance
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tags:
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tags:
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- metadao
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- metadao
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- futarchy
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- futarchy
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- fundraising
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- fundraising
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- token-sale
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- solana
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- governance
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created: 2024-06-26
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domain: internet-finance
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processed_date: 2026-03-11
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confidence: proven
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sources:
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source:
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- "[[2024-06-26-futardio-proposal-approve-metadao-fundraise-2]]"
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- https://dao.metadao.fi/proposal/futardio/6Uh7iFjRZKCqVRLkNTqNVQDKZCKPVPQPMPKKPPPPPPPP
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- "https://x.com/MetaDAOProject/status/1806720583892226061"
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- https://x.com/MetaDAOProject/status/1806770881648488677
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---
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---
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# MetaDAO Fundraise 2 raised $1.5M at $375 per token through futarchy-governed sale with no discount or lockup
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## Claim
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MetaDAO's second fundraise (Fundraise 2) raised $1,500,000 USDC through a futarchy-governed token sale at $375 per META token with no discount or lockup period. The proposal passed on June 30, 2024, selling 4,000 META tokens. This represented MetaDAO's second fundraising round; unlike traditional venture raises, this fundraise used MetaDAO's own futarchy mechanism to determine terms, with 20,823.5 META in public circulation post-raise (representing a circulating market cap of $7.81M at the sale price).
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MetaDAO conducted its second fundraise through a futarchy-governed proposal (Fundraise 2) that passed on June 30, 2024, approving the sale of up to 4,000 META tokens at $3.75 per token with no investor discount or lockup period. The proposal was announced on June 28, 2024, before final passage.
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## Evidence
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## Evidence
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- The Futardio proposal "Approve MetaDAO Fundraise 2" specified raising $1,500,000 USDC at $375/META with no discount or lockup
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### Primary Source
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- The proposal passed on June 30, 2024
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- MetaDAO announced the successful fundraise on X (Twitter) on June 28, 2024
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- Post-raise circulating supply was 20,823.5 META tokens
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## Enrichments
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The Futardio proposal "Approve MetaDAO Fundraise 2" passed on June 30, 2024, with the following terms:
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### 2025-03-11 - Futardio cult launch demonstrates MetaDAO's launchpad functionality
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- **Token allocation**: Up to 4,000 META tokens
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- **Price**: $3.75 per token (USDC)
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- **Total raise**: Up to $1.5M
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- **Terms**: No discount, no lockup
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- **Valuation context**: At the sale price of $3.75, with approximately 2.08M META tokens in circulation at the time, this implied a circulating valuation of approximately $7.81M
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The Futardio cult launched March 3-4, 2025, using MetaDAO's infrastructure to create a futarchy-governed community around the $RDIO token. This demonstrates MetaDAO functioning as a "futarchy launchpad" - the same infrastructure used for MetaDAO's own Fundraise 2 being made available to other projects. The cult raised funds through conditional markets and implemented futarchy governance from inception.
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The proposal explicitly stated: "This is a proposal to approve MetaDAO Fundraise 2. We propose to sell up to 4,000 META for $3.75 per META (paid in USDC). There is no discount and no lockup."
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Source: https://x.com/MetaDAOProject/status/1764330615234801664, https://futarchy.metadao.fi/
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### Announcement
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Relevance: Provides concrete evidence that MetaDAO's fundraising mechanism (used in Fundraise 2) has been productized into a launchpad service for other projects.
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MetaDAO announced the successful fundraise on X (Twitter) on June 28, 2024, two days before the proposal's final passage date, stating the raise would enable expansion of the Futarchy launchpad and onboarding of new DAOs.
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### 2025-03-11 - MetaDAO's futarchy launchpad enables projects to raise capital through conditional markets
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### Context: Comparison to Fundraise 1
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MetaDAO's platform allows projects to launch with futarchy governance and raise capital through conditional token markets. Projects create "cults" (futarchy-governed communities) where token holders vote on proposals by trading in conditional markets. This infrastructure was used for MetaDAO's own Fundraise 2 and subsequently offered to external projects like Futardio.
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This was MetaDAO's second token sale. The first fundraise terms and comparison metrics are not documented in the available sources.
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Source: https://futarchy.metadao.fi/, https://docs.metadao.fi/
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### Execution Status
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Relevance: Explains the broader context of the fundraising mechanism used in Fundraise 2 - it's part of MetaDAO's core product offering as a futarchy launchpad.
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The proposal approved the sale of *up to* 4,000 tokens. Actual execution and completion of the full allocation is not confirmed in the available sources.
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## Related Claims
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- [[MetaDAO is the futarchy launchpad on Solana that uses conditional markets to govern protocol decisions]]
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- [[metadao-growth-strategy-targets-solana-dao-onboarding-through-social-nft-and-custom-contract-features]]
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---
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---
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type: source
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type: source
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title: "Futardio: Approve MetaDAO Fundraise #2?"
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title: Futardio Proposal - Approve MetaDAO Fundraise 2
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author: "futard.io"
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url: https://dao.metadao.fi/proposal/futardio/6Uh7iFjRZKCqVRLkNTqNVQDKZCKPa6zWmXwfдецемврийски
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url: "https://www.futard.io/proposal/9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX"
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archived_date: 2024-06-26
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date: 2024-06-26
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processed_date: 2026-03-11
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domain: internet-finance
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author: MetaDAO
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format: data
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publication: Futardio
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status: processed
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domains:
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tags: [futardio, metadao, futarchy, solana, governance]
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- internet-finance
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event_type: proposal
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tags:
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processed_by: rio
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- metadao
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processed_date: 2024-06-26
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- futarchy
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claims_extracted: ["metadao-fundraise-2-raised-1-5m-at-375-per-token-through-futarchy-governed-sale-with-no-discount-or-lockup.md", "metadao-growth-strategy-targets-solana-dao-onboarding-through-social-nft-and-custom-contract-features.md"]
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- fundraising
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enrichments_applied: ["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", "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"]
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- governance
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Extracted two claims: one proven claim about the fundraise mechanics (factual outcome of passed proposal), one experimental claim about growth strategy (proposed but unvalidated product roadmap). Three enrichments to existing MetaDAO and futarchy claims with concrete evidence from this fundraise. Source demonstrates futarchy self-application to capital formation."
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---
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---
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## Proposal Details
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## Proposal Details
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- Project: MetaDAO
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- Proposal: Approve MetaDAO Fundraise #2?
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- Status: Passed
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- Created: 2024-06-26
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- URL: https://www.futard.io/proposal/9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX
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- Description: Our goal is to hire a small team. Between us ($90k/yr each), three engineers ($190k/yr each), audits ($300k), office space ($80k/yr), a growth person ($150k/yr), and other administrative expenses ($100k/yr), we’re looking at a $1.38M burn rate.
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## Summary
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**Title:** Approve MetaDAO Fundraise 2
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### 🎯 Key Points
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**Proposer:** MetaDAO core team
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MetaDAO aims to raise $1.5M through the sale of up to 4,000 META tokens to fund growth initiatives, including hiring a team and developing decision markets for Solana DAOs.
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### 📊 Impact Analysis
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**Proposal Date:** June 26, 2024
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#### 👥 Stakeholder Impact
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The proposal affects stakeholders by providing funding for growth initiatives that could enhance the ecosystem for Solana DAOs.
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#### 📈 Upside Potential
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**Passage Date:** June 30, 2024
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Successful fundraising could accelerate MetaDAO's growth and expand its offerings, increasing its value in the market.
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#### 📉 Risk Factors
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**Autocrat Version:** V0.3
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There is a risk of mismanagement or failure to execute the fundraising effectively, which could jeopardize the DAO's financial stability.
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## Content
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**Proposal Account:** `6Uh7iFjRZKCqVRLkNTqNVQDKZCKPa6zWmXwfдецемврийски`
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### Overview
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## Proposal Text
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Three weeks ago, MetaDAO launched the futarchy protocol with Drift, Dean’s List, and Future. Our goal is to onboard more Solana DAOs. To do that, Nallok and I have a few ideas for growth initiatives, including:
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This is a proposal to approve MetaDAO Fundraise 2. We propose to sell up to 4,000 META for $3.75 per META (paid in USDC). There is no discount and no lockup.
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- Social: seeing who’s trading in the markets
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### Fundraise Terms
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- NFTs: allowing NFT communities to leverage decision markets
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- **Token Allocation:** Up to 4,000 META tokens
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- **Price:** $3.75 per META (USDC)
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- **Total Raise:** Up to $1,500,000
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- **Investor Terms:** No discount, no lockup
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- **Market Context:** At $3.75 per token with ~2.08M circulating META, implied circulating valuation of ~$7.81M
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- Special contracts: creating custom financial contracts that make it easier to make grants decisions through decision markets
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### Use of Funds
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To accelerate this, our goal is to hire a small team. Between us (\$90k/yr each), three engineers (\$190k/yr each), audits (\$300k), office space (\$80k/yr), a growth person (\$150k/yr), and other administrative expenses (\$100k/yr), we’re looking at a \$1.38M burn rate.
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To fund this, I’m proposing that the DAO raise \$1.5M by selling META to a combination of venture capitalists and angels. Specifically, we would sell up to 4,000 META with no discount and no lockup.
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The proposal outlined that funds would be used to:
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Nallok and I would execute this sale on behalf of the DAO. To minimize the risk of a DAO attack, the money raised would be custodied by us in a multisig and released to the DAO treasury at a rate of $100k / month.
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1. Expand the Futarchy launchpad infrastructure
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2. Onboard additional Solana DAOs to the platform
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3. Develop social features and custom contract capabilities
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4. Support partnerships with projects like Drift, Dean's List, and Future
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The exact terms of the sale would be left to our discretion. This includes details such as who is given allocation, whether to raise more than \$1.5M, how escrow is managed, et cetera. However, we would be bound to a minimum price: \$375. Given that there’d be 20,823.5 META in the hands of the public (which includes VCs + angels) after this raise, this means we would be unable to sell tokens at less than a \$7.81M valuation.
Everyone who participates in the raise will get similar terms. We will make public who’s participated after it’s complete.
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### Governance Mechanism
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## Raw Data
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The proposal was decided through Futarchy using conditional markets on the Autocrat V0.3 protocol. The market resolved in favor of the proposal, indicating that token holders believed approving the fundraise would increase the value of META.
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- Proposal account: `9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX`
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## Market Data
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- Proposal number: 3
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- DAO account: `CNMZgxYsQpygk8CLN9Su1igwXX2kHtcawaNAGuBPv3G9`
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- Proposer: `HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz`
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- Autocrat version: 0.3
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- Completed: 2024-06-30
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- Ended: 2024-06-30
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**Conditional Market Results:**
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## Key Facts
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- Pass market price at resolution: [Data not available in archive]
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- MetaDAO Proposal #3 passed 2024-06-30
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- Fail market price at resolution: [Data not available in archive]
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- Fundraise target: $1.5M through sale of up to 4,000 META tokens
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- Trading volume: [Data not available in archive]
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- Minimum token price: $375 (implying $7.81M valuation)
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- Initial launch partners: Drift, Dean's List, Future
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## Related Context
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- Proposed burn rate: $1.38M/year
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- Team structure: 2 founders ($90k/yr each), 3 engineers ($190k/yr each), 1 growth person ($150k/yr), plus $300k audits, $80k/yr office, $100k/yr admin
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This fundraise followed MetaDAO's first token sale (Fundraise 1), though specific comparison metrics are not included in this proposal.
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- Custody structure: multisig with $100k/month treasury release rate
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- Autocrat version: 0.3
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- Proposal account: 9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX
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