diff --git a/entities/internet-finance/metadao-create-spot-market-meta.md b/entities/internet-finance/metadao-create-spot-market-meta.md new file mode 100644 index 000000000..570f45d59 --- /dev/null +++ b/entities/internet-finance/metadao-create-spot-market-meta.md @@ -0,0 +1,59 @@ +--- +type: entity +entity_type: decision_market +name: "MetaDAO: Execute Creation of Spot Market for META?" +domain: internet-finance +status: passed +parent_entity: "[[metadao]]" +platform: "futardio" +proposer: "UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e" +proposal_url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4tF" +proposal_date: 2024-02-05 +resolution_date: 2024-02-10 +category: "treasury" +summary: "Executed creation of META spot market through 75K USDC raise paired with 1000 META in Meteora liquidity pool at 35 USDC initial price" +tracked_by: rio +created: 2026-03-11 +key_metrics: + raise_target: "$75,000" + meta_allocated: "4,130 META" + lp_allocation: "1,000 META + $35,000 USDC" + participant_allocation: "3,100 META" + multisig_compensation: "30 META (5 per member)" + initial_price: "$35 USDC/META" +--- + +# MetaDAO: Execute Creation of Spot Market for META? + +## Summary +This proposal executed the creation of META's first spot market following the passage of Proposal 3, which authorized fundraising for liquidity pool creation. The implementation involved a 75K USDC raise from participants, paired with 1,000 META from treasury to establish initial liquidity on Meteora at a 35 USDC/META price point. + +## Market Data +- **Outcome:** Passed +- **Proposer:** UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e +- **Proposal Number:** 5 +- **Completed:** 2024-02-10 + +## Implementation Details +The proposal established a 4/6 multisig (Proph3t, Dean, Nallok, Durden, Rar3, BlockchainFixesThis) to execute a multi-step process: + +1. Demand collection via Google form +2. Allocation decisions by Proph3t +3. USDC transfer deadline (Feb 7th) +4. Backfill allocation for non-completing participants (Feb 8th) +5. META distribution and LP creation on Meteora (Feb 9th) + +Token allocation from 4,130 META treasury transfer: +- 3,100 META distributed to sale participants +- 1,000 META paired with 35,000 USDC for liquidity pool +- 30 META compensation to multisig members (5 each) + +## Significance +This represents MetaDAO's transition from pure futarchy governance to establishing liquid secondary markets for its governance token. The proposal demonstrates trust-minimized execution through multisig with explicit reputation stakes, acknowledging that "there is no algorithmic guarantee" but relying on reputational incentives of 4/6 signers. + +The 35 USDC/META initial price point established the first market-based valuation reference for META tokens, enabling price discovery beyond conditional markets. + +## Relationship to KB +- [[metadao]] - treasury and liquidity management decision +- [[meteora]] - liquidity pool platform +- [[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]] - governance mechanism that approved this execution diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 9f0ae5600..fc9f818f7 100644 --- a/entities/internet-finance/metadao.md +++ b/entities/internet-finance/metadao.md @@ -54,6 +54,7 @@ The futarchy governance protocol on Solana. Implements decision markets through - **2026-03** — Pine Analytics Q4 2025 quarterly report published - **2024-02-18** — [[metadao-otc-trade-pantera-capital]] failed: Pantera Capital's $50,000 OTC purchase proposal rejected by futarchy markets +- **2024-02-05** — [[metadao-create-spot-market-meta]] passed: Executed creation of META spot market through 75K USDC raise paired with 1000 META in Meteora liquidity pool at 35 USDC initial price ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/entities/internet-finance/meteora.md b/entities/internet-finance/meteora.md index d887a3f9e..9798dafc2 100644 --- a/entities/internet-finance/meteora.md +++ b/entities/internet-finance/meteora.md @@ -37,6 +37,7 @@ Solana liquidity protocol offering Dynamic Liquidity Market Maker (DLMM) pools, - **2025-Q4** — Meteora LP generates $1.15M in fees for MetaDAO (Pine Analytics Q4 report) - **2025-10 to 2026-03** — Every Futardio launch allocates 900K tokens to Meteora pool as standard template +- **2024-02-09** — MetaDAO created META/USDC liquidity pool on Meteora with 1,000 META + 35,000 USDC following [[metadao-create-spot-market-meta]] passage ## Competitive Position - **Infrastructure role**: Not competing with MetaDAO — provides complementary liquidity infrastructure. Meteora is the LP venue; Futarchic AMM is the governance venue. - **vs Raydium**: Both are major Solana AMMs. Raydium offers CLMM (concentrated liquidity). Meteora differentiates with DLMM and dynamic bonding pools. diff --git a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md index 6b11e782c..b7841761d 100644 --- a/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md +++ b/inbox/archive/2024-02-05-futardio-proposal-execute-creation-of-spot-market-for-meta.md @@ -6,9 +6,13 @@ url: "https://www.futard.io/proposal/HyA2h16uPQBFjezKf77wThNGsEoesUjeQf9rFvfAy4t date: 2024-02-05 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 +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Proposal execution details for META spot market creation. No novel claims about futarchy mechanisms or governance theory - this is operational implementation of previously approved fundraising authority. Created decision_market entity and updated parent MetaDAO timeline. Meteora mentioned as LP platform." --- ## Proposal Details @@ -61,3 +65,11 @@ Obviously, there is no algorithmic guarantee that the multisig members will actu - Autocrat version: 0.1 - Completed: 2024-02-10 - Ended: 2024-02-10 + + +## Key Facts +- MetaDAO Proposal 5 passed on 2024-02-10 +- 4/6 multisig created with Proph3t, Dean, Nallok, Durden, Rar3, and BlockchainFixesThis +- Initial META spot price set at 35 USDC/META +- Total META allocation: 4,130 (3,100 to participants, 1,000 to LP, 30 to multisig) +- Raise target: 75,000 USDC