diff --git a/entities/internet-finance/metadao.md b/entities/internet-finance/metadao.md index 6dc36589..dc5ae519 100644 --- a/entities/internet-finance/metadao.md +++ b/entities/internet-finance/metadao.md @@ -58,6 +58,8 @@ The futarchy governance protocol on Solana. Implements decision markets through - **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 - **2025-01-27** — [[metadao-otc-trade-theia-2]] proposed: Theia offers $500K for 370.370 META at 14% premium with 12-month vesting - **2025-01-30** — [[metadao-otc-trade-theia-2]] passed: Theia acquires 370.370 META tokens for $500,000 USDC +- **2023-11-18** — [[metadao-develop-lst-vote-market]] proposed: first product development proposal requesting 3,000 META to build Votium-style validator bribe platform for MNDE/mSOL holders +- **2023-11-29** — [[metadao-develop-lst-vote-market]] passed: approved LST Vote Market development with projected $10.5M enterprise value addition ## Key Decisions | Date | Proposal | Proposer | Category | Outcome | |------|----------|----------|----------|---------| diff --git a/inbox/archive/.extraction-debug/2023-11-18-futardio-proposal-develop-a-lst-vote-market.json b/inbox/archive/.extraction-debug/2023-11-18-futardio-proposal-develop-a-lst-vote-market.json new file mode 100644 index 00000000..7aa0dfad --- /dev/null +++ b/inbox/archive/.extraction-debug/2023-11-18-futardio-proposal-develop-a-lst-vote-market.json @@ -0,0 +1,89 @@ +{ + "raw_response": "```json\n{\n \"claims\": [],\n \"enrichments\": [\n {\n \"target_file\": \"MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions.md\",\n \"type\": \"extend\",\n \"evidence\": \"The LST Vote Market proposal demonstrates futarchy's challenge with speculative financial projections. The proposal requested 3,000 META based on highly uncertain assumptions: 70% execution probability, $10.5M enterprise value addition, and $135k annual revenue estimates. The financial model explicitly acknowledges 'these results are highly speculative and sensitive to assumptions' and encourages 'market participants to make their own assumptions.' This shows futarchy markets must price not just technical feasibility but also complex financial modeling with compounding uncertainty layers.\",\n \"source_ref\": \"MetaDAO LST Vote Market proposal (2023-11-18), financial projections section\"\n },\n {\n \"target_file\": \"futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements.md\",\n \"type\": \"confirm\",\n \"evidence\": \"The LST Vote Market proposal illustrates proposal complexity friction. The proposal includes: detailed Votium mechanism explanation, multi-step user flow (validator pool creation \u2192 veMNDE/mSOL holder participation \u2192 monthly claim cycles), complex financial modeling with sensitivity analysis, and technical architecture decisions (non-custodial design, smart contract specifications). The proposal acknowledges execution risk at 70% probability and defers performance incentive structure to future Meta-DAO decisions, adding governance uncertainty on top of technical complexity.\",\n \"source_ref\": \"MetaDAO LST Vote Market proposal (2023-11-18), design and business model sections\"\n }\n ],\n \"entities\": [\n {\n \"filename\": \"metadao-develop-lst-vote-market.md\",\n \"domain\": \"internet-finance\",\n \"action\": \"create\",\n \"entity_type\": \"decision_market\",\n \"content\": \"---\\ntype: entity\\nentity_type: decision_market\\nname: \\\"MetaDAO: Develop a LST Vote Market?\\\"\\ndomain: internet-finance\\nstatus: passed\\nparent_entity: \\\"[[metadao]]\\\"\\nplatform: \\\"futardio\\\"\\nproposer: \\\"Proph3t\\\"\\nproposal_url: \\\"https://www.futard.io/proposal/9RisXkQCFLt7NA29vt5aWatcnU8SkyBgS95HxXhwXhW\\\"\\nproposal_date: 2023-11-18\\nresolution_date: 2023-11-29\\ncategory: \\\"product-development\\\"\\nsummary: \\\"Proposal to build centralized bribe platform for MNDE/mSOL holders to earn yield by directing stake to validators\\\"\\nkey_metrics:\\n funding_requested: \\\"3,000 META\\\"\\n projected_annual_revenue: \\\"$135k-$170k\\\"\\n projected_enterprise_value_add: \\\"$10.5M\\\"\\n execution_probability_claimed: \\\"70%\\\"\\n market_size_estimate: \\\"$1.7M annually\\\"\\ntracked_by: rio\\ncreated: 2026-03-11\\n---\\n\\n# MetaDAO: Develop a LST Vote Market?\\n\\n## Summary\\nProposal to develop a Votium-style bribe platform where validators pay MNDE and mSOL holders to direct Marinade's stake allocation. The platform would centralize the currently fragmented validator bribe market, taking 10% fees on bribes. Requested 3,000 META funding split across three contributors (Proph3t for contracts, marie for UI, nicovrg for Marinade BD) with retroactive performance incentives.\\n\\n## Market Data\\n- **Outcome:** Passed\\n- **Proposer:** Proph3t\\n- **Completed:** 2023-11-29\\n- **Funding:** 3,000 META (1,000 upfront, 2,000 on completion)\\n\\n## Financial Projections\\nThe proposal included detailed but explicitly speculative financial modeling:\\n- Market size: $1.7M annually (based on $532M Marinade TVL, 40% directed stake, 8% staking rate, 10% validator commission)\\n- Platform revenue: $135k-$170k annually (10% fee, accounting for 10-30% Marinade revshare)\\n- Enterprise value add: $10.5M (using 7.8x SaaS valuation multiple)\\n- Net value after execution risk: $730k-$700k (assuming 70% execution probability)\\n\\nThe proposal explicitly noted: \\\"these results are highly speculative and sensitive to assumptions.\\\"\\n\\n## Mechanism Design\\nVotium-style non-custodial architecture:\\n1. Validators create monthly pools specifying price-per-vote and deposit SOL\\n2. veMNDE/mSOL holders direct stake to validators over 1-week period\\n3. After 1 month, holders claim pro-rata SOL bribes from pools\\n\\nKey advantage: non-custodial design means only validator bribes at risk in case of exploit, not user funds.\\n\\n## Significance\\nFirst product development proposal for MetaDAO, testing whether futarchy can govern profit-generating business ventures. The proposal framed product development as legitimacy-building: \\\"To gain legitimacy, we need to first prove that the model works... by building profit-turning products under the Meta-DAO umbrella.\\\"\\n\\nDemonstrates futarchy's challenge with speculative financial projections and deferred incentive structures (performance incentives left to future Meta-DAO decisions).\\n\\n## Relationship to KB\\n- [[metadao]] - first product development proposal\\n- [[MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions]] - illustrates complexity friction\\n- [[futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements]] - proposal complexity example\\n\"\n },\n {\n \"filename\": \"metadao.md\",\n \"domain\": \"internet-finance\",\n \"action\": \"update\",\n \"timeline_entry\": \"- **2023-11-18** \u2014 [[metadao-develop-lst-vote-market]] proposed: first product development proposal requesting 3,000 META to build Votium-style validator bribe platform for MNDE/mSOL holders\"\n },\n {\n \"filename\": \"metadao.md\",\n \"domain\": \"internet-finance\",\n \"action\": \"update\",\n \"timeline_entry\": \"- **2023-11-29** \u2014 [[metadao-develop-lst-vote-market]] passed: approved LST Vote Market development with projected $10.5M enterprise value addition\"\n }\n ],\n \"source_update\": {\n \"status\": \"processed\",\n \"processed_by\": \"rio\",\n \"processed_date\": \"2026-03-11\",\n \"claims_extracted\": [],\n \"enrichments_applied\": [\n \"MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions.md\",\n \"futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements.md\"\n ],\n \"entities_updated\": [\n \"metadao-develop-lst-vote-market.md\",\n \"metadao.md\"\n ],\n \"key_facts\": [\n \"Marinade Finance had $532M TVL with 40% ($213M) directed by votes (2023-11-18)\",\n \"Estimated validator bribe market size: $1.7M annually (8% staking rate \u00d7 10% validator commission \u00d7 $213M directed stake)\",\n \"Votium-style non-custodial architecture eliminates user fund risk in case of exploit\",\n \"Proposal requested 3,000 META split: 1,000 upfront, 2,000 on completion\",\n \"Three contributors: Proph3t (contracts), marie (UI), nicovrg (Marinade BD)\"\n ],\n \"notes\": \"Primary extraction: decision_market entity for LST Vote Market proposal. No novel claims\u2014the proposal illustrates existing claims about futarchy complexity and speculative financial modeling. Enriched two existing claims with concrete evidence from this proposal's structure and financial projections. Key factual data about Marinade TVL and market sizing preserved in source archive.\"\n }\n}\n```", + "parsed": { + "claims": [], + "enrichments": [ + { + "target_file": "MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions.md", + "type": "extend", + "evidence": "The LST Vote Market proposal demonstrates futarchy's challenge with speculative financial projections. The proposal requested 3,000 META based on highly uncertain assumptions: 70% execution probability, $10.5M enterprise value addition, and $135k annual revenue estimates. The financial model explicitly acknowledges 'these results are highly speculative and sensitive to assumptions' and encourages 'market participants to make their own assumptions.' This shows futarchy markets must price not just technical feasibility but also complex financial modeling with compounding uncertainty layers.", + "source_ref": "MetaDAO LST Vote Market proposal (2023-11-18), financial projections section" + }, + { + "target_file": "futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements.md", + "type": "confirm", + "evidence": "The LST Vote Market proposal illustrates proposal complexity friction. The proposal includes: detailed Votium mechanism explanation, multi-step user flow (validator pool creation \u2192 veMNDE/mSOL holder participation \u2192 monthly claim cycles), complex financial modeling with sensitivity analysis, and technical architecture decisions (non-custodial design, smart contract specifications). The proposal acknowledges execution risk at 70% probability and defers performance incentive structure to future Meta-DAO decisions, adding governance uncertainty on top of technical complexity.", + "source_ref": "MetaDAO LST Vote Market proposal (2023-11-18), design and business model sections" + } + ], + "entities": [ + { + "filename": "metadao-develop-lst-vote-market.md", + "domain": "internet-finance", + "action": "create", + "entity_type": "decision_market", + "content": "---\ntype: entity\nentity_type: decision_market\nname: \"MetaDAO: Develop a LST Vote Market?\"\ndomain: internet-finance\nstatus: passed\nparent_entity: \"[[metadao]]\"\nplatform: \"futardio\"\nproposer: \"Proph3t\"\nproposal_url: \"https://www.futard.io/proposal/9RisXkQCFLt7NA29vt5aWatcnU8SkyBgS95HxXhwXhW\"\nproposal_date: 2023-11-18\nresolution_date: 2023-11-29\ncategory: \"product-development\"\nsummary: \"Proposal to build centralized bribe platform for MNDE/mSOL holders to earn yield by directing stake to validators\"\nkey_metrics:\n funding_requested: \"3,000 META\"\n projected_annual_revenue: \"$135k-$170k\"\n projected_enterprise_value_add: \"$10.5M\"\n execution_probability_claimed: \"70%\"\n market_size_estimate: \"$1.7M annually\"\ntracked_by: rio\ncreated: 2026-03-11\n---\n\n# MetaDAO: Develop a LST Vote Market?\n\n## Summary\nProposal to develop a Votium-style bribe platform where validators pay MNDE and mSOL holders to direct Marinade's stake allocation. The platform would centralize the currently fragmented validator bribe market, taking 10% fees on bribes. Requested 3,000 META funding split across three contributors (Proph3t for contracts, marie for UI, nicovrg for Marinade BD) with retroactive performance incentives.\n\n## Market Data\n- **Outcome:** Passed\n- **Proposer:** Proph3t\n- **Completed:** 2023-11-29\n- **Funding:** 3,000 META (1,000 upfront, 2,000 on completion)\n\n## Financial Projections\nThe proposal included detailed but explicitly speculative financial modeling:\n- Market size: $1.7M annually (based on $532M Marinade TVL, 40% directed stake, 8% staking rate, 10% validator commission)\n- Platform revenue: $135k-$170k annually (10% fee, accounting for 10-30% Marinade revshare)\n- Enterprise value add: $10.5M (using 7.8x SaaS valuation multiple)\n- Net value after execution risk: $730k-$700k (assuming 70% execution probability)\n\nThe proposal explicitly noted: \"these results are highly speculative and sensitive to assumptions.\"\n\n## Mechanism Design\nVotium-style non-custodial architecture:\n1. Validators create monthly pools specifying price-per-vote and deposit SOL\n2. veMNDE/mSOL holders direct stake to validators over 1-week period\n3. After 1 month, holders claim pro-rata SOL bribes from pools\n\nKey advantage: non-custodial design means only validator bribes at risk in case of exploit, not user funds.\n\n## Significance\nFirst product development proposal for MetaDAO, testing whether futarchy can govern profit-generating business ventures. The proposal framed product development as legitimacy-building: \"To gain legitimacy, we need to first prove that the model works... by building profit-turning products under the Meta-DAO umbrella.\"\n\nDemonstrates futarchy's challenge with speculative financial projections and deferred incentive structures (performance incentives left to future Meta-DAO decisions).\n\n## Relationship to KB\n- [[metadao]] - first product development proposal\n- [[MetaDAOs-futarchy-implementation-shows-limited-trading-volume-in-uncontested-decisions]] - illustrates complexity friction\n- [[futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements]] - proposal complexity example\n" + }, + { + "filename": "metadao.md", + "domain": "internet-finance", + "action": "update", + "timeline_entry": "- **2023-11-18** \u2014 [[metadao-develop-lst-vote-market]] proposed: first product development proposal requesting 3,000 META to build Votium-style validator bribe platform for MNDE/mSOL holders" + }, + { + "filename": "metadao.md", + "domain": "internet-finance", + "action": "update", + "timeline_entry": "- **2023-11-29** \u2014 [[metadao-develop-lst-vote-market]] passed: approved LST Vote Market development with projected $10.5M enterprise value addition" + } + ], + "source_update": { + "status": "enrichment", + "processed_by": "rio", + "processed_date": "2026-03-11", + "claims_extracted": [], + "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" + ], + "entities_updated": [ + "metadao.md", + "metadao.md" + ], + "key_facts": [ + "Marinade Finance had $532M TVL with 40% ($213M) directed by votes (2023-11-18)", + "Estimated validator bribe market size: $1.7M annually (8% staking rate \u00d7 10% validator commission \u00d7 $213M directed stake)", + "Votium-style non-custodial architecture eliminates user fund risk in case of exploit", + "Proposal requested 3,000 META split: 1,000 upfront, 2,000 on completion", + "Three contributors: Proph3t (contracts), marie (UI), nicovrg (Marinade BD)" + ], + "notes": "Primary extraction: decision_market entity for LST Vote Market proposal. No novel claims\u2014the proposal illustrates existing claims about futarchy complexity and speculative financial modeling. Enriched two existing claims with concrete evidence from this proposal's structure and financial projections. Key factual data about Marinade TVL and market sizing preserved in source archive.", + "model": "anthropic/claude-sonnet-4.5" + } + }, + "model": "anthropic/claude-sonnet-4.5", + "date": "2026-03-15", + "tokens": { + "prompt_tokens": 13699, + "completion_tokens": 2076, + "total_tokens": 15775, + "cost": 0.072237, + "is_byok": false, + "prompt_tokens_details": { + "cached_tokens": 0, + "cache_write_tokens": 0, + "audio_tokens": 0, + "video_tokens": 0 + }, + "cost_details": { + "upstream_inference_cost": 0.072237, + "upstream_inference_prompt_cost": 0.041097, + "upstream_inference_completions_cost": 0.03114 + }, + "completion_tokens_details": { + "reasoning_tokens": 0, + "image_tokens": 0, + "audio_tokens": 0 + } + } +} \ No newline at end of file diff --git a/inbox/archive/2023-11-18-futardio-proposal-develop-a-lst-vote-market.md b/inbox/archive/2023-11-18-futardio-proposal-develop-a-lst-vote-market.md index 3c9881d7..c64736e8 100644 --- a/inbox/archive/2023-11-18-futardio-proposal-develop-a-lst-vote-market.md +++ b/inbox/archive/2023-11-18-futardio-proposal-develop-a-lst-vote-market.md @@ -6,9 +6,14 @@ url: "https://www.futard.io/proposal/9RisXkQCFLt7NA29vt5aWatcnU8SkyBgS95HxXhwXhW date: 2023-11-18 domain: internet-finance format: data -status: unprocessed +status: enrichment tags: [futardio, metadao, futarchy, solana, governance] event_type: proposal +processed_by: rio +processed_date: 2026-03-11 +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"] +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Primary extraction: decision_market entity for LST Vote Market proposal. No novel claims—the proposal illustrates existing claims about futarchy complexity and speculative financial modeling. Enriched two existing claims with concrete evidence from this proposal's structure and financial projections. Key factual data about Marinade TVL and market sizing preserved in source archive." --- ## Proposal Details @@ -140,3 +145,11 @@ The Meta-DAO is still figuring out how to properly incentivize performance, so w - Autocrat version: 0 - Completed: 2023-11-29 - Ended: 2023-11-29 + + +## Key Facts +- Marinade Finance had $532M TVL with 40% ($213M) directed by votes (2023-11-18) +- Estimated validator bribe market size: $1.7M annually (8% staking rate × 10% validator commission × $213M directed stake) +- Votium-style non-custodial architecture eliminates user fund risk in case of exploit +- Proposal requested 3,000 META split: 1,000 upfront, 2,000 on completion +- Three contributors: Proph3t (contracts), marie (UI), nicovrg (Marinade BD)