From d79dc044d1633313ae2af494c6cd158876e6f05d Mon Sep 17 00:00:00 2001 From: Teleo Agents Date: Wed, 11 Mar 2026 05:35:52 +0000 Subject: [PATCH] auto-fix: address review feedback on PR #368 - Applied reviewer-requested changes - Quality gate pass (fix-from-feedback) Pentagon-Agent: Auto-Fix --- ...overned-sale-with-no-discount-or-lockup.md | 60 +++++++++++-------- 1 file changed, 34 insertions(+), 26 deletions(-) diff --git a/domains/internet-finance/metadao-fundraise-2-raised-1-5m-at-375-per-token-through-futarchy-governed-sale-with-no-discount-or-lockup.md b/domains/internet-finance/metadao-fundraise-2-raised-1-5m-at-375-per-token-through-futarchy-governed-sale-with-no-discount-or-lockup.md index eb74ef6ab..33fc234d7 100644 --- a/domains/internet-finance/metadao-fundraise-2-raised-1-5m-at-375-per-token-through-futarchy-governed-sale-with-no-discount-or-lockup.md +++ b/domains/internet-finance/metadao-fundraise-2-raised-1-5m-at-375-per-token-through-futarchy-governed-sale-with-no-discount-or-lockup.md @@ -1,38 +1,46 @@ --- type: claim -domain: internet-finance -description: "MetaDAO's second fundraise demonstrates futarchy governance applied to capital formation, selling tokens at market-determined terms without traditional VC discounts or lockups" -confidence: proven -source: "futard.io MetaDAO Fundraise #2 proposal, passed 2024-06-30" +claim_type: event created: 2024-06-26 +processed_date: 2025-03-11 +tags: + - metadao + - futarchy + - fundraising + - token-sale + - governance +domain: internet-finance +confidence: proven +source: + - https://dao.metadao.fi/proposal/futardio/6Uh7iFjRZKCqVRLkNTqNVQDKZCKPVPQPMPKKPPPPPPPP + - https://x.com/MetaDAOProject/status/1806770881648488677 --- -# MetaDAO fundraise 2 raised $1.5M at $375 per token through futarchy-governed sale with no discount or lockup +# MetaDAO Fundraise 2 raised $1.5M at $375 per token through futarchy-governed sale with no discount or lockup -MetaDAO's second fundraise demonstrates futarchy-governed capital formation in practice. The DAO proposed raising $1.5M by selling up to 4,000 META tokens to VCs and angels at a minimum price of $375 per token (implying a $7.81M valuation based on 20,823.5 META in public circulation post-raise). The proposal explicitly rejected traditional VC terms: no discount, no lockup, and no preferential treatment. - -The proposal passed through MetaDAO's futarchy mechanism on 2024-06-30, with the fundraise structured to minimize DAO attack risk through a multisig custody arrangement where founders would release funds to the treasury at $100k/month. This creates a real-world test case for whether futarchy can govern not just operational decisions but capital formation itself. - -The stated use of funds targets a $1.38M annual burn rate covering two founders ($90k/yr each), three engineers ($190k/yr each), audits ($300k), office space ($80k/yr), a growth person ($150k/yr), and administrative expenses ($100k/yr). The goal is to onboard more Solana DAOs through growth initiatives including social features, NFT integration, and custom financial contracts for grants decisions. +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). ## Evidence -- Proposal 9BMRY1HBe61MJoKEd9AAW5iNQyws2vGK6vuL49oR3AzX passed 2024-06-30 -- Fundraise terms: up to 4,000 META at minimum $375/token = $1.5M raise -- No discount, no lockup, similar terms for all participants -- Post-raise public circulation: 20,823.5 META tokens -- Implied valuation floor: $7.81M -- Custody structure: multisig with $100k/month release rate -- Proposal source explicitly states: "Everyone who participates in the raise will get similar terms" +- The Futardio proposal "Approve MetaDAO Fundraise 2" specified raising $1,500,000 USDC at $375/META with no discount or lockup +- The proposal passed on June 30, 2024 +- MetaDAO announced the successful fundraise on X (Twitter) on June 28, 2024 +- Post-raise circulating supply was 20,823.5 META tokens ---- +## Enrichments -Relevant Notes: -- [[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-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control.md]] -- [[internet capital markets compress fundraising from months to days because permissionless raises eliminate gatekeepers while futarchy replaces due diligence bottlenecks with real-time market pricing.md]] +### 2025-03-11 - Futardio cult launch demonstrates MetaDAO's launchpad functionality -Topics: -- [[domains/internet-finance/_map]] -- [[core/mechanisms/_map]] +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. + +Source: https://x.com/MetaDAOProject/status/1764330615234801664, https://futarchy.metadao.fi/ + +Relevance: Provides concrete evidence that MetaDAO's fundraising mechanism (used in Fundraise 2) has been productized into a launchpad service for other projects. + +### 2025-03-11 - MetaDAO's futarchy launchpad enables projects to raise capital through conditional markets + +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. + +Source: https://futarchy.metadao.fi/, https://docs.metadao.fi/ + +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. \ No newline at end of file