From d859af0960aade21882bd46b4c41c369467ea3d5 Mon Sep 17 00:00:00 2001 From: Teleo Agents Date: Thu, 12 Mar 2026 00:26:19 +0000 Subject: [PATCH] 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 5) Pentagon-Agent: Rio --- ...o-increase-meta-liquidity-dutch-auction.md | 64 +++++++++++++++++++ entities/internet-finance/metadao.md | 2 + ...ease-meta-liquidity-via-a-dutch-auction.md | 16 ++++- 3 files changed, 81 insertions(+), 1 deletion(-) create mode 100644 entities/internet-finance/metadao-increase-meta-liquidity-dutch-auction.md diff --git a/entities/internet-finance/metadao-increase-meta-liquidity-dutch-auction.md b/entities/internet-finance/metadao-increase-meta-liquidity-dutch-auction.md new file mode 100644 index 00000000..fe2eb5c2 --- /dev/null +++ b/entities/internet-finance/metadao-increase-meta-liquidity-dutch-auction.md @@ -0,0 +1,64 @@ +--- +type: entity +entity_type: decision_market +name: "MetaDAO: Increase META Liquidity via a Dutch Auction" +domain: internet-finance +status: passed +parent_entity: "[[metadao]]" +platform: "futardio" +proposer: "prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ" +proposal_url: "https://www.futard.io/proposal/Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT" +proposal_account: "Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT" +proposal_number: 10 +proposal_date: 2024-02-26 +resolution_date: 2024-03-02 +category: "treasury" +summary: "Sell 1,000 META via manual Dutch auction on OpenBook to acquire USDC for liquidity pairing on Meteora" +key_metrics: + meta_sold: "1,000" + meta_for_liquidity: "2,000" + total_meta_requested: "3,005.45" + compensation_meta: "5.45" + multisig_size: "3/5" +tracked_by: rio +created: 2026-03-11 +--- + +# MetaDAO: Increase META Liquidity via a Dutch Auction + +## Summary +Proposal to address META's low liquidity and high volatility by selling 1,000 META through a manual Dutch auction executed on OpenBook, then pairing the acquired USDC with META to provide liquidity on Meteora's fee pools. The auction used a descending price mechanism starting 50% above spot, lowering 5% every 24 hours, with 100 META tranches. + +## Market Data +- **Outcome:** Passed +- **Proposer:** prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ +- **Proposal Account:** Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT +- **Proposal Number:** 10 +- **Autocrat Version:** 0.1 +- **Created:** 2024-02-26 +- **Completed:** 2024-03-02 + +## Mechanism Design +- Manual Dutch auction via OpenBook +- 100 META tranches, starting 50% above spot price +- Price reduction: 5% every 24 hours if >6% above spot +- New asks placed 10% above spot when filled +- 3/5 multisig execution (LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi) +- Final liquidity moved to Meteora 1% fee pool + +## Compensation Structure +Sealed-bid auction for multisig positions: +- Ben H: 0 META +- Nico: 0 META +- joebuild: 0.2 META +- Dodecahedr0x: 0.25 META +- Proposal creator (Durden): 5 META +- **Total:** 5.45 META + +## Significance +Demonstrates futarchy-governed treasury management with minimal governance overhead. The sealed-bid compensation mechanism and low multisig compensation (0-0.25 META per member) reveals limited competitive interest in uncontested operational proposals. The manual Dutch auction approach prioritized simplicity and low smart contract risk over mechanism sophistication. + +## Relationship to KB +- [[metadao]] - treasury management decision +- [[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 implementation example +- [[meteora]] - liquidity destination platform diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 6d2cc438..ca1d07bc 100644 --- a/entities/internet-finance/metadao.md +++ b/entities/internet-finance/metadao.md @@ -56,6 +56,8 @@ The futarchy governance protocol on Solana. Implements decision markets through - **2024-02-18** — [[metadao-otc-trade-pantera-capital]] failed: Pantera Capital's $50,000 OTC purchase proposal rejected by futarchy markets - **2024-02-18** — [[metadao-otc-trade-ben-hawkins-2]] proposed: $100k OTC trade for up to 500 META with 20/80 vesting split - **2024-02-24** — [[metadao-otc-trade-ben-hawkins-2]] failed: Market rejected OTC trade despite acknowledged liquidity problem +- **2024-02-26** — [[metadao-increase-meta-liquidity-dutch-auction]] proposed: sell 1,000 META via manual Dutch auction on OpenBook to acquire USDC for Meteora liquidity pairing +- **2024-03-02** — [[metadao-increase-meta-liquidity-dutch-auction]] passed: completed Dutch auction and liquidity provision, moving all protocol-owned liquidity to Meteora 1% fee pool ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/inbox/archive/2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md b/inbox/archive/2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md index a2312acd..be3c7119 100644 --- a/inbox/archive/2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md +++ b/inbox/archive/2024-02-26-futardio-proposal-increase-meta-liquidity-via-a-dutch-auction.md @@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVV date: 2024-02-26 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 +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", "MetaDAOs futarchy implementation shows limited trading volume in uncontested decisions.md"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Proposal 10 is primarily operational/treasury management with no novel mechanism claims. The Dutch auction was manually executed (not programmatic), making it a governance case study rather than a mechanism innovation. Extracted as decision_market entity with enrichments to existing futarchy implementation claims. The sealed-bid multisig compensation structure (0-0.25 META) provides evidence for limited trading volume in uncontested decisions." --- ## Proposal Details @@ -116,3 +121,12 @@ This proposal will significantly increase Meta DAO's protocol-owned liquidity as - Autocrat version: 0.1 - Completed: 2024-03-02 - Ended: 2024-03-02 + + +## Key Facts +- MetaDAO Proposal 10 requested 3,005.45 total META (1,000 to sell, 2,000 for liquidity pairing, 5.45 compensation) +- Multisig address: LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi (3/5 threshold) +- Multisig members: Durden (91NjPFfJxQw2FRJvyuQUQsdh9mBGPeGPuNavt7nMLTQj), Ben H (Hu8qped4Cj7gQ3ChfZvZYrtgy2Ntr6YzfN7vwMZ2SWii), Nico (6kDGqrP4Wwqe5KBa9zTrgUFykVsv4YhZPDEX22kUsDMP), joebuild (XXXvLz1B89UtcTsg2hT3cL9qUJi5PqEEBTHg57MfNkZ), Dodecahedr0x (UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e) +- Dutch auction mechanics: start 50% above spot, lower 5% every 24h if >6% above spot, new asks at 10% above spot when filled +- Liquidity destination: Meteora 4% fee pool initially, then consolidated to 1% fee pool +- DAO account: 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy