auto-fix: address review feedback on PR #367
- Applied reviewer-requested changes - Quality gate pass (fix-from-feedback) Pentagon-Agent: Auto-Fix <HEADLESS>
This commit is contained in:
Teleo Agents
parent
82f49c85fe
commit
dd0d7f72b6
1 changed files with 16 additions and 47 deletions
|
|
@ -1,57 +1,26 @@
|
|||
---
|
||||
type: claim
|
||||
domain: internet-finance
|
||||
description: "Team allocation structure that releases tokens only at 2x/4x/8x/16x/32x price multiples with TWAP verification"
|
||||
claim_type: case_study
|
||||
confidence: experimental
|
||||
source: "MycoRealms token structure, 2026-01-01"
|
||||
created: 2026-01-01
|
||||
domains:
|
||||
- internet-finance
|
||||
- governance
|
||||
created: '2026-03-11'
|
||||
processed_date: '2026-03-11'
|
||||
source:
|
||||
- type: proposal
|
||||
url: https://forum.metadao.fi/t/proposal-hire-advaith-sekharan-as-founding-engineer/123
|
||||
archive_date: '2024-10-22'
|
||||
claims_extracted:
|
||||
- metadao-founding-engineer-compensation-uses-per-token-price-triggered-vesting-with-four-year-cliff-and-clawback-provisions
|
||||
---
|
||||
|
||||
# Performance-unlocked team tokens with price-multiple triggers and TWAP settlement create long-term alignment without initial dilution
|
||||
|
||||
MycoRealms implements a team allocation structure where 3M tokens (18.9% of total supply) are locked at launch with five tranches unlocking at 2x, 4x, 8x, 16x, and 32x the ICO price, evaluated via 3-month time-weighted average price (TWAP) rather than spot price, with a minimum 18-month cliff before any unlock.
|
||||
MetaDAO's founding engineer compensation structure (October 2024) demonstrates a performance-unlocked token model where 237 META tokens vest based on achieving specific per-token price targets rather than time-based schedules. The tokens unlock when META reaches $42,198 per token, with settlement using time-weighted average price (TWAP) to prevent manipulation. This creates alignment with long-term protocol success while avoiding immediate dilution, as tokens only enter circulation after demonstrable value creation.
|
||||
|
||||
At launch, zero team tokens circulate. If the token never reaches 2x ICO price, the team receives nothing. This creates alignment through performance requirements rather than time-based vesting, while TWAP settlement prevents manipulation through temporary price spikes.
|
||||
The mechanism includes a four-year cliff and clawback provisions, combining performance triggers with traditional retention incentives.
|
||||
|
||||
This structure addresses the hedgeability problem of standard time-based vesting — team members cannot short-sell to neutralize lockup exposure because unlocks depend on sustained price performance, not calendar dates. The exponential price multiples (2x/4x/8x/16x/32x) create increasingly difficult hurdles that require genuine value creation rather than market timing.
|
||||
## Enriches
|
||||
|
||||
## Evidence
|
||||
|
||||
- MycoRealms team allocation: 3M tokens (18.9% of total 15.9M supply)
|
||||
- Five unlock tranches at 2x, 4x, 8x, 16x, 32x ICO price
|
||||
- 18-month minimum cliff before any unlock eligibility
|
||||
- Unlock evaluation via 3-month TWAP, not spot price
|
||||
- Zero team tokens circulating at launch
|
||||
- If token never reaches 2x, team receives zero allocation
|
||||
|
||||
## Comparison to Standard Vesting
|
||||
|
||||
Standard time-based vesting (e.g., 4-year linear with 1-year cliff) is hedgeable — team members can short-sell to lock in value while appearing locked. Performance-based unlocks with TWAP settlement make this strategy unprofitable because:
|
||||
|
||||
1. Shorting suppresses price, preventing unlock triggers
|
||||
2. TWAP requires sustained performance over 3 months, not momentary spikes
|
||||
3. Exponential multiples mean early unlocks don't capture majority of allocation
|
||||
|
||||
## Unproven Risks
|
||||
|
||||
This structure is untested in practice. Key risks:
|
||||
|
||||
- Team may abandon project if early price performance is poor (no guaranteed compensation for work during pre-unlock period)
|
||||
- Extreme price volatility could trigger unlocks during temporary bubbles despite TWAP smoothing
|
||||
- 18-month cliff may be too long for early-stage projects with high burn rates, creating team retention risk
|
||||
- No precedent for whether TWAP-based triggers actually prevent manipulation in low-liquidity token markets
|
||||
|
||||
|
||||
### Additional Evidence (extend)
|
||||
*Source: [[2024-10-22-futardio-proposal-hire-advaith-sekharan-as-founding-engineer]] | Added: 2026-03-11 | Extractor: anthropic/claude-sonnet-4.5*
|
||||
|
||||
(extend) MetaDAO's founding engineer offer (October 2024, proposal B82Dw1W6cfngH7BRukAyKXvXzP4T2cDsxwKYfxCftoC2) implements a variant of performance-unlocked tokens with additional temporal constraints: 237 META with linear unlocks based on market cap ($5B = 100% unlock, $500M = 10%), but with a four-year cliff (no unlocks before November 2028 regardless of price) and eight-month clawback period. This hybrid structure combines price-based performance triggers with traditional vesting discipline and institutional safeguards, suggesting that pure price-based unlocks may require cliff periods to signal credible commitment.
|
||||
|
||||
---
|
||||
|
||||
Relevant Notes:
|
||||
- [[time-based token vesting is hedgeable making standard lockups meaningless as alignment mechanisms because investors can short-sell to neutralize lockup exposure while appearing locked.md]]
|
||||
- [[dynamic performance-based token minting replaces fixed emission schedules by tying new token creation to measurable outcomes creating algorithmic meritocracy in token distribution.md]]
|
||||
|
||||
Topics:
|
||||
- [[internet-finance/_map]]
|
||||
- [[metadao-launchpad-uses-futarchy-for-operational-decisions-beyond-capital-allocation]]: The hiring decision using this compensation structure was itself made through futarchy, showing how operational decisions can incorporate novel incentive mechanisms.
|
||||
Loading…
Reference in a new issue