decisions/internet-finance/metadao-burn-993-percent-meta.md

@@ -37,7 +37,7 @@ last_updated: 2026-03-24
 **Connections:**
 - This is the most aggressive treasury action in MetaDAO's history — burning 99.3% of treasury tokens. The market approved it, demonstrating futarchy can make radical structural decisions
 - The FDV perception problem ("high FDV discourages investors and participants") is exactly the friction documented in [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]]
-- The explicit note about mintable token migration is prescient — the treasury later exhausted via Theia OTC ([[metadao-otc-trade-theia-3]]) and required token migration, validating [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]]
+- The explicit note about mintable token migration is prescient — the treasury later exhausted via Theia OTC (metadao-otc-trade-theia-3) and required token migration, validating [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]]
 - Community-authored proposals (not team) passing shows the futarchy mechanism isn't team-captured — external participants can propose radical changes and the market evaluates them on merit
 
 ---

decisions/internet-finance/metadao-otc-trade-ben-hawkins.md

@@ -35,7 +35,7 @@ last_updated: 2026-03-24
 
 **Connections:**
 - This is the primary empirical evidence cited in [[decision markets make majority theft unprofitable through conditional token arbitrage]] — the first production proof that the conditional token arbitrage mechanism works
-- [[metadao-otc-trade-ben-hawkins-2]] — Hawkins came back with a second attempt ($100K, Proposal 8, also failed). Two consecutive failures from the same actor is strong evidence
+- metadao-otc-trade-ben-hawkins-2 — Hawkins came back with a second attempt ($100K, Proposal 8, also failed). Two consecutive failures from the same actor is strong evidence
 - [[futarchy is manipulation-resistant because attack attempts create profitable opportunities for defenders]] — Hawkins's experience confirms the theoretical claim
 - The $33.33/META valuation was well below the contemporaneous ~$695 spot price seen in Proposal 8 a few days later, making this an obviously extractive deal — yet the mechanism still needed to reject it through market pricing, not human judgment
 
@@ -62,7 +62,7 @@ in exchange for Ben will send 50,000 USDC to be sent to ADCCEAbH8eixGj5t73vb4sKe
 
 ## Relationship to KB
 - [[metadao]] — parent entity
-- [[metadao-otc-trade-ben-hawkins-2]] — second attempt ($100K, also failed)
+- metadao-otc-trade-ben-hawkins-2 — second attempt ($100K, also failed)
 - [[decision markets make majority theft unprofitable through conditional token arbitrage]] — this is the primary empirical evidence
 - [[futarchy is manipulation-resistant because attack attempts create profitable opportunities for defenders]] — Hawkins quote confirms
 - [[ben-hawkins]] — proposer entity

decisions/internet-finance/metadao-otc-trade-pantera-capital.md

@@ -120,6 +120,6 @@ Pre-money valuations at different prices:
 ## Relationship to KB
 - [[metadao]] — parent entity
 - [[metadao-otc-trade-ben-hawkins]] — concurrent proposal, also failed
-- [[metadao-otc-trade-ben-hawkins-2]] — concurrent proposal, also failed
+- metadao-otc-trade-ben-hawkins-2 — concurrent proposal, also failed
 - [[pantera-capital]] — proposer entity
 - [[decision markets make majority theft unprofitable through conditional token arbitrage]] — market rejected institutional capital at unfavorable terms

decisions/internet-finance/metadao-otc-trade-theia-2.md

@@ -36,7 +36,7 @@ last_updated: 2026-03-24
 **Outcome:** Passed (2025-01-30). Three weeks after $700K attempt failed.
 
 **Connections:**
-- Theia pricing evolution: $700K at -12.7% discount (failed, [[metadao-otc-trade-theia-1]]) → $500K at +14% premium (this, passed) → $630K at +38% premium ([[metadao-otc-trade-theia-3]], passed). Market rewards premium-paying investors.
+- Theia pricing evolution: $700K at -12.7% discount (failed, metadao-otc-trade-theia-1) → $500K at +14% premium (this, passed) → $630K at +38% premium (metadao-otc-trade-theia-3, passed). Market rewards premium-paying investors.
 - This proposal adds "Active Governance" as a new value-add dimension — Theia commits to actively trading MetaDAO markets to deepen liquidity. The first OTC that explicitly promises governance participation as consideration.
 - References from Kamino cofounder and Metaplex Lead of Strategy — institutional social proof for MetaDAO
 - Proph3t's candid use-of-funds statement ("twitter videos") is unusual transparency that the market approved anyway
@@ -106,7 +106,7 @@ We are deeply impressed with the team, mission and community at MetaDAO. We woul
 
 ## Relationship to KB
 - [[metadao]] — parent entity
-- [[metadao-otc-trade-theia-1]] — first attempt (failed, $700K at -12.7% discount)
-- [[metadao-otc-trade-theia-3]] — third attempt (passed, $630K at +38% premium)
+- metadao-otc-trade-theia-1 — first attempt (failed, $700K at -12.7% discount)
+- metadao-otc-trade-theia-3 — third attempt (passed, $630K at +38% premium)
 - [[theia-research]] — institutional participant
 - [[publishing investment analysis openly before raising capital inverts hedge fund secrecy because transparency attracts domain-expert LPs who can independently verify the thesis]] — Theia's open research model