Merge branch 'main' into extract/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta
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34
entities/internet-finance/agrippa.md
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entities/internet-finance/agrippa.md
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---
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type: entity
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entity_type: person
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name: "agrippa"
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domain: internet-finance
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status: active
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role: "developer"
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affiliations:
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- "Solana Labs (Realms frontend lead, 2023-2024)"
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- "MetaDAO (contributor)"
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key_contributions:
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- "Led development on Solana governance-ui (Realms)"
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- "Created first conditional tokens vault on Solana (Precog Party, FTX grant-funded)"
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- "Proposed multi-modal proposals for MetaDAO"
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tracked_by: rio
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created: 2026-03-11
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---
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# agrippa
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## Overview
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agrippa is a Solana developer who led Realms frontend development at Solana Labs and built the first conditional tokens vault on Solana. He proposed expanding MetaDAO's futarchy implementation to support multi-option proposals in February 2024 (proposal failed). Background includes founding a high-school blockchain club in 2014, research at Cornell's Initiative for Cryptocurrency and Contracts, and attendance at a 2017 smart contract summit in China.
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## Timeline
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- **2014** — Founded one of the first high-school blockchain clubs globally
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- **2017** — Invited to smart contract summit in China for Sybil resistance work
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- **~2022** — Developed first conditional tokens vault on Solana (Precog Party, FTX grant-funded)
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- **2023-2024** — Led development on governance-ui (Realms frontend) for Solana Labs
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- **2024-02-20** — Proposed multi-modal proposals feature to MetaDAO for 200 META (failed)
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- **2024-12** — Met Proph3t in Greece, discussed futarchy implementation
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## Relationship to KB
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- [[metadao]] - proposed mechanism expansion
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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 - contributed to conditional vault design review
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51
entities/internet-finance/drift-prioritize-listing-meta.md
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entities/internet-finance/drift-prioritize-listing-meta.md
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---
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type: entity
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entity_type: decision_market
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name: "Drift: Prioritize Listing META?"
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domain: internet-finance
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status: passed
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parent_entity: "[[drift]]"
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platform: "futardio"
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proposer: "Nallok, Divide"
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proposal_url: "https://www.futard.io/proposal/FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJpp"
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proposal_date: 2024-11-25
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resolution_date: 2024-11-28
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category: "strategy"
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summary: "Drift evaluated futarchy for token listing decisions, proposing to prioritize META token for Spot and Perp trading"
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tracked_by: rio
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created: 2026-03-11
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---
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# Drift: Prioritize Listing META?
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## Summary
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Drift proposed using futarchy to determine whether to prioritize listing the META token (MetaDAO's governance token) for Spot and Perpetual trading. The proposal framed this as an experiment in decentralized listing processes, arguing that futarchy could empower community participation, improve governance utilization, and create a more optimal allocation of development resources compared to traditional listing decisions.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** Nallok, Divide
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- **Proposal Account:** FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJpp
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- **DAO Account:** 8ABcEC2SEaqi1WkyWGtd2QbuWmkFryYnV1ispBUSgY2V
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- **Autocrat Version:** 0.3
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- **Created:** 2024-11-25
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- **Completed:** 2024-11-28
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## Context
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META had limited liquidity at proposal time:
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- 7-day average daily volume: $199.7k
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- 30-day volume: $7.4M
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- FDV: $79.9M
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- Only CEX listing: CoinEX
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- Token address: METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr
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The proposal acknowledged significant risks from low liquidity and limited trading volume, noting susceptibility to volatility and price manipulation. Drift committed to a 1x FUEL multiplier for spot deposits if the listing proceeded.
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## Significance
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This represents Drift's first documented use of futarchy for token listing decisions, testing whether prediction markets can replace traditional listing committees. The proposal explicitly positioned futarchy as superior to standard voting for surfacing community preferences and allocating development resources. The META-Drift connection creates a potential feedback loop where trading META perpetuals on Drift could increase liquidity for MetaDAO's own futarchy decision markets.
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## Relationship to KB
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- [[drift]] - governance decision on listing strategy
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- [[metadao]] - token being evaluated for listing
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- [[futardio]] - platform hosting the decision market
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- [[MetaDAOs futarchy implementation shows limited trading volume in uncontested decisions]] - this proposal passed with minimal market activity
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- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] - liquidity concerns explicitly noted as risk factor
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entities/internet-finance/kamino.md
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entities/internet-finance/kamino.md
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---
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type: entity
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entity_type: company
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name: "Kamino"
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domain: internet-finance
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status: active
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key_metrics:
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xsol_sol_liquidity_share: ">95%"
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vault_management: "automated rebalancing for concentrated liquidity"
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tracked_by: rio
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created: 2026-03-11
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---
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# Kamino
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Kamino is a Solana DeFi protocol specializing in automated liquidity management for concentrated liquidity AMMs. The platform manages over 95% of xSOL-SOL liquidity on Solana AMMs through automated vault strategies that rebalance positions, demonstrating strong product-market fit for LST liquidity provision.
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## Timeline
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- **2025-03-05** — Sanctum proposes using Kamino vaults for INF-SOL liquidity incentives, citing Kamino's dominance in xSOL-SOL liquidity management
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- **2025-03-08** — Sanctum proposal passes, authorizing Kamino team to manage up to 2.5M CLOUD in incentives with dynamic rate adjustment to maintain 15% APY target
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## Relationship to KB
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- [[sanctum-incentivise-inf-sol-liquidity]] - liquidity management partner
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- Demonstrates automated vault management as the preferred model for LST liquidity (users unwilling to provide liquidity without third-party management)
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---
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type: entity
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entity_type: decision_market
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name: "MetaDAO: Develop Multi-Option Proposals?"
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domain: internet-finance
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status: failed
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parent_entity: "[[metadao]]"
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platform: "futardio"
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proposer: "agrippa"
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proposal_url: "https://www.futard.io/proposal/J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHht"
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proposal_date: 2024-02-20
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resolution_date: 2024-02-25
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category: "mechanism"
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summary: "Proposal to develop multi-modal proposal functionality allowing multiple mutually-exclusive outcomes beyond binary pass/fail, compensated at 200 META across four milestones"
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tracked_by: rio
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created: 2026-03-11
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---
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# MetaDAO: Develop Multi-Option Proposals?
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## Summary
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Proposal by agrippa to build multi-modal proposal functionality for MetaDAO, enabling decisions with N mutually-exclusive outcomes rather than just pass/fail. The feature would allow futarchic selection among alternatives (e.g., choosing contest winners from multiple applicants). Compensation requested: 200 META distributed across four development milestones, evaluated by a 5-member multisig.
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## Market Data
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- **Outcome:** Failed
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- **Proposer:** agrippa (99dZcXhrYgEmHeMKAb9ezPaBqgMdg1RjCGSfHa7BeQEX)
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- **Proposal Account:** J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHht
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- **Created:** 2024-02-20
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- **Completed:** 2024-02-25
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## Significance
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This proposal represents a significant architectural expansion of MetaDAO's futarchy implementation. Multi-option proposals address a fundamental limitation: binary pass/fail cannot handle selection among alternatives, which is required for many governance decisions (hiring, grants, strategic choices). The proposer estimated this would add 12.1% value to MetaDAO by exponentially increasing decision-making bandwidth and providing a mechanism to reduce pork-barrel spending through mandatory draft stages where alternatives can be proposed.
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The proposal failed despite strong technical rationale, suggesting either market skepticism about the value proposition, concerns about the proposer's ability to deliver, or insufficient liquidity/participation in the decision market.
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## Technical Approach
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The proposal outlined a from-scratch multi-modal conditional vault program with no hard limits on number of outcomes, requiring deep Solana/Anchor expertise. Four milestones: (1) immediate payment on passage, (2) conditional vault completion, (3) futarch integration, (4) frontend implementation. A 5-member multisig (Proph3t, DeanMachine, 0xNallok, LegalizeOnionFutures, sapphire) would evaluate milestone completion.
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## Relationship to KB
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- [[metadao]] - governance mechanism expansion
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- futarchy-implementations-must-simplify-theoretical-mechanisms-for-production-adoption-because-original-designs-include-impractical-elements-that-academics-tolerate-but-users-reject - demonstrates specific simplification need
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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 - architectural evolution
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---
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type: entity
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entity_type: decision_market
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name: "Sanctum: Should Sanctum use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults?"
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domain: internet-finance
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status: passed
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parent_entity: "[[sanctum]]"
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platform: "futardio"
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proposer: "proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2"
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proposal_url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q"
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proposal_date: 2025-03-05
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resolution_date: 2025-03-08
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category: "treasury"
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summary: "Deploy up to 2.5M CLOUD tokens to incentivize INF-SOL liquidity via Kamino vaults with 20% initial APY transitioning to 15%"
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tracked_by: rio
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created: 2026-03-11
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---
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# Sanctum: Should Sanctum use up to 2.5M CLOUD to incentivise INF-SOL liquidity via Kamino Vaults?
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## Summary
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Proposal to deploy up to 2.5M CLOUD tokens as liquidity mining incentives for INF-SOL Kamino vaults, offering 20% APY for the first month then 15% thereafter, to deepen native SOL liquidity for INF. The proposal addresses insufficient liquidity depth for large depositors and positions INF as a liquidity nexus for Solana LSTs.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** proPaC9tVZEsmgDtNhx15e7nSpoojtPD3H9h4GqSqB2
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- **Platform:** Futardio (Autocrat v0.3)
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- **Duration:** 2025-03-05 to 2025-03-08
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- **Target TVL:** $2.5M cap
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- **Expected Duration:** 6+ months at target TVL
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## Mechanism Design
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The proposal uses dynamic incentive adjustment where Kamino team controls emission rates to maintain 15% APY target as TVL and CLOUD price fluctuate. This represents a hybrid approach: futarchy determines whether to allocate treasury resources, but operational execution (rate adjustments) is delegated to Kamino rather than governed by additional markets.
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## Context
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- INF outperforms mSOL and jitoSOL historically but lacks liquidity depth
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- 95%+ of xSOL-SOL AMM liquidity comes from Kamino managed vaults
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- INF-SOL Kamino vault has outperformed 100% INF HODL due to high capital velocity
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- Industry standard for LP incentives is 15% combined APY
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## Significance
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Demonstrates futarchy application to treasury-funded growth initiatives where the proposal is economically straightforward (proven incentive model, clear problem, established partner). Low trading volume suggests market viewed this as obviously beneficial rather than requiring price discovery.
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## Relationship to KB
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- [[sanctum]] - treasury allocation decision
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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 - mechanism used
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- MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions - exemplifies pattern
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@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHh
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date: 2024-02-20
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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: ["futarchy-implementations-must-simplify-theoretical-mechanisms-for-production-adoption-because-original-designs-include-impractical-elements-that-academics-tolerate-but-users-reject.md", "futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements.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"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Failed proposal for multi-modal futarchy functionality. Primary extraction value is in enriching existing mechanism claims about futarchy implementation complexity and architectural evolution. Created decision_market entity and person entity for agrippa (significant contributor to Solana governance infrastructure). No novel claims warranted - the proposal articulates known challenges (complexity, liquidity) rather than introducing new theoretical insights."
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---
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## Proposal Details
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@ -107,3 +112,13 @@ I would be very excited to join this futarchic society as a major techinical con
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- Autocrat version: 0.1
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- Completed: 2024-02-25
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- Ended: 2024-02-25
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## Key Facts
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- MetaDAO circulating supply was 14,416 META as of 2024-02-20
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- Multi-modal proposal compensation requested: 200 META across 4 milestones (50 META each)
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- Milestone evaluation multisig: Proph3t, DeanMachine, 0xNallok, LegalizeOnionFutures, sapphire (3/5 threshold)
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- Multisig members compensated 2.5 META each upon passage
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- Proposal account: J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHht
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- Proposer wallet: 99dZcXhrYgEmHeMKAb9ezPaBqgMdg1RjCGSfHa7BeQEX
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- agrippa's estimated value add: 12.1% to MetaDAO (1744 META equivalent at time of proposal)
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@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJp
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date: 2024-11-25
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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 futarchy implementation shows limited trading volume in uncontested decisions.md", "futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.md"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Source is a futarchy proposal for Drift to list META token. Primary extraction is the decision_market entity capturing the governance event. No novel claims about futarchy mechanisms - the proposal describes existing MetaDAO futarchy architecture without new insights. Two enrichments confirm existing claims about limited trading volume in uncontested decisions and liquidity friction. Timeline entries added to Drift, MetaDAO, and Futardio entities to track this cross-platform governance event."
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---
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## Proposal Details
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@ -94,3 +99,12 @@ MetaDAO is a novel approach to governance that has the potential to reshape how
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- Autocrat version: 0.3
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- Completed: 2024-11-28
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- Ended: 2024-11-28
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## Key Facts
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- META token had $199.7k 7-day average daily volume at proposal time (2024-11-25)
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- META token FDV was $79.9M with only CoinEX listing (2024-11-25)
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- Drift proposal FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJpp passed 2024-11-28
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- Drift committed 1x FUEL multiplier for META spot deposits
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- META token address: METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr
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- META token launch date: 2023-11-07
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@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7
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date: 2025-03-05
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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-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions.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"]
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Governance proposal demonstrating futarchy for treasury-funded growth initiatives. No novel claims extracted - primary value is entity data (new decision_market entity, Kamino entity creation, Sanctum timeline update) and enrichment of existing futarchy mechanism claims. The proposal exemplifies low-contestation futarchy decisions where economic logic is straightforward."
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---
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## Proposal Details
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@ -75,3 +80,11 @@ Assuming the $2.5M TVL cap is reached, incentives should last 6 months at least.
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- Autocrat version: 0.3
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- Completed: 2025-03-08
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- Ended: 2025-03-08
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## Key Facts
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- INF outperforms mSOL and jitoSOL historically (2025-03-05 data)
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- Kamino manages >95% of xSOL-SOL AMM liquidity on Solana
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- INF-SOL Kamino vault outperformed 100% INF HODL strategy due to high capital velocity
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- Industry standard LP incentive rate is 15% combined APY
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- Sanctum proposal 6mc1Fp6ds8XKA2jMzBDDhVwvY6ZCGg6SNqvHy4E6LS7Q used Autocrat v0.3
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