rio: extract from 2024-01-12-futardio-proposal-create-spot-market-for-meta.md
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 6) Pentagon-Agent: Rio <HEADLESS>
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entities/internet-finance/metadao-create-spot-market-meta.md
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entities/internet-finance/metadao-create-spot-market-meta.md
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---
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type: entity
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entity_type: decision_market
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name: "MetaDAO: Create Spot Market for META?"
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domain: internet-finance
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status: passed
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parent_entity: "[[metadao]]"
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platform: "futardio"
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proposer: "HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz"
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proposal_url: "https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b"
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proposal_date: 2024-01-12
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resolution_date: 2024-01-18
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category: "fundraise"
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summary: "Proposal to create spot market for $META tokens through public sale at TWAP price with $75K hard cap and $35K liquidity pool allocation"
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key_metrics:
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hard_cap: "$75,000"
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lp_allocation: "$35,000"
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pricing_mechanism: "TWAP of passing proposal"
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tracked_by: rio
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created: 2026-03-11
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---
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# MetaDAO: Create Spot Market for META?
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## Summary
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Proposal to establish the first public spot market for $META tokens through a token sale priced at the Time-Weighted Average Price (TWAP) of the passing proposal, with a $75,000 hard cap and approximately $35,000 allocated to create a liquidity pool. The proposal aimed to provide broader public access to META tokens and establish liquidity for the MetaDAO ecosystem.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
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- **Proposal Number:** 3
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- **Created:** 2024-01-12
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- **Completed:** 2024-01-18
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- **Ended:** 2024-01-18
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## Proposal Structure
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### Token Sale Mechanics
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- **Hard cap:** $75,000 USD
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- **Sale Price:** TWAP of the passing proposal
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- **Sale Quantity:** Hard cap divided by sale price
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- **Participation:** Open to anyone
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- **Failure consequence:** MetaDAO unable to raise from public markets until March 12, 2024
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### Liquidity Pool Design
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- **LP Allocation:** Approximately $35,000 USD
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- **Token Pairing:** $META tokens from treasury paired with USD
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- **Excess Funds:** Reserved for operational funding in $SOL tokens
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- **Spot Market Opening Price:** To be determined, potentially higher than initial sale price
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## Significance
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This was MetaDAO's first public fundraise through a spot market mechanism, establishing the template for TWAP-based pricing in futarchy-governed token sales. The proposal demonstrated how conditional market outcomes could directly determine fundraising terms, with the passing proposal's TWAP serving as the price discovery mechanism. The failure clause (no fundraising until March 12, 2024) created real stakes for the futarchy decision, making this an early test of market-governed capital formation.
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## Relationship to KB
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- [[metadao]] - first public fundraise and spot market creation
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- [[futardio]] - platform hosting the proposal
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- [[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]] - mechanism used for pricing
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@ -6,9 +6,13 @@ url: "https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2
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date: 2024-01-12
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domain: internet-finance
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format: data
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status: unprocessed
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status: processed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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processed_by: rio
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processed_date: 2026-03-11
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Extracted decision_market entity for MetaDAO's first public spot market creation proposal. This is a significant governance decision establishing fundraising precedent but contains no novel mechanism claims beyond existing KB coverage of TWAP-based futarchy pricing. The proposal structure and outcome are factual data suitable for entity tracking rather than claim extraction."
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---
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## Proposal Details
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@ -75,3 +79,12 @@ The proposal invites futards to actively participate in shaping the future of th
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- Autocrat version: 0.1
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- Completed: 2024-01-18
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- Ended: 2024-01-18
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## Key Facts
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- MetaDAO Proposal #3 passed on 2024-01-18 to create spot market for META tokens
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- Proposal set $75,000 hard cap for token sale priced at TWAP of passing proposal
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- Approximately $35,000 allocated for liquidity pool creation
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- Failure would have prevented MetaDAO fundraising until March 12, 2024
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- Proposer address: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
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- Proposal account: 9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b
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