--- type: decision entity_type: decision_market name: "MetaDAO: Migrate META Token" domain: internet-finance status: passed tracked_by: rio created: 2026-03-11 last_updated: 2026-03-11 parent_entity: "[[metadao]]" platform: "futardio" proposer: "Proph3t & Kollan" proposal_url: "https://v1.metadao.fi/metadao/trade/4grb3pea8ZSqE3ghx76Fn43Q97mAh64XjgwL9AXaB3Pe" proposal_date: 2025-08-07 resolution_date: 2025-08-10 category: mechanism summary: "1:1000 token split, mintable supply, new DAO v0.5 (Squads), LP fee reduction from 4% to 0.5%" tags: ["futarchy", "token-migration", "elastic-supply", "squads", "meta-token"] --- # MetaDAO: Migrate META Token ## Summary Migration from METAC (unmintable, ~20K supply) to new META token (mintable, ~20.86M supply via 1:1000 split). Mint and update authority transferred to new DAO governed via Squads vault (v0.5). Protocol-owned liquidity fee reduced from 4% to 0.5%. New DAO passing threshold reduced to 1.5%, monthly spending limit set at $120K. Migration contract deployed as permanent one-way conversion. New META token: METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta. New DAO: Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km. ## Market Data - **Outcome:** Passed (2025-08-10) - **Autocrat version:** 0.3 - **Key participants:** Proph3t (co-author), Kollan (co-author) ## Significance This is the resolution of the mintable-token saga that began with the 99.3% burn ([[metadao-burn-993-percent-meta]]), continued through the failed community proposal ([[metadao-token-split-elastic-supply]]), and culminated here. The DAO's treasury was exhausted (as the burn had predicted), forcing the migration to mintable tokens. Key architectural decisions: (1) mint authority to DAO governance, not any multisig — "market-driven issuance" as extension of market-driven decision-making; (2) Squads integration for operational security; (3) LP fee reduction from 4% to 0.5% anticipating the custom Futarchic AMM; (4) permanent migration contract with unlimited conversion window, avoiding forced timelines. The proposal explicitly frames mintable supply as philosophically consistent with futarchy: "Futarchy is market-driven decision making. To stay true to that principle, it also requires market-driven issuance." This is the strongest empirical evidence for the claim that futarchy DAOs require mintable governance tokens — the fixed-supply model broke in practice. ## Relationship to KB - [[metadao]] — token architecture migration - [[metadao-burn-993-percent-meta]] — the burn that created the need for this migration - [[metadao-token-split-elastic-supply]] — the earlier failed community version - [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]] — primary evidence for this claim - [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — 1:1000 split addresses unit bias --- Relevant Entities: - [[metadao]] — parent organization - [[proph3t]] — co-author Topics: - [[internet finance and decision markets]] ## Full Proposal Text *Source: futard.io, tabled 2025-08-07* **Type:** Operations Direct Action **Authors:** Proph3t, Kollan ## **Overview** Futarchy is market-driven decision making. To stay true to that principle, it also requires market-driven issuance. A mintable token is essential to fund the organization, incentivize participation, and adapt to changing governance outcomes. MetaDAO's token, META (METAC), is no longer fit for purpose: it's unmintable, the DAO's treasury is exhausted, and unit bias remains an issue. This proposal introduces a 1:1000 token split, re-establishes mint and update authority, and migrates the DAO to version 0.5 (Squads). We're migrating METAC to a new token, META, expanding supply from \~20K to \~20M to align with peer futarchies. Protocol-owned liquidity will also shift from a restrictive 4% fee pool to a 0.50% pool, improving efficiency until FutarchyAMM is live. The new META token will be governed by the new DAO, which holds mint and update authority. A migration contract and frontend will let METAC holders convert at any time. Work on the migration is already underway and should take up to 1 week. Migration will only proceed if this proposal passes. ## **Specifications** | | New (META) | Existing (METAC) | | ----- | ----- | ----- | | Ticker | META | META | | Supply | 20,863,129.001238 | 20,863.129001238 | | Price | \~$0.79875 | \~$798.75 | | Protocol Owned Liquidity Fee | 0.5% | 4% | | Mintable | Yes | No | | Updateable | Yes | Yes | | Decimals | 6 | 9 | | Split Ratio | 1000 | – | ## **Process** * This proposal includes a transfer instruction for the new DAO to take custody of onchain assets, including: * 1.2M USDC from account `C6DaJNGP1Xsd1seePqn8BPfQWMxsbBoUSf6Kbagmta2T` to account `BxgkvRwqzYFWuDbRjfTYfgTtb41NaFw1aQ3129F79eBT` * Transfer the remaining USDC (minus funds used for proposal creation) from `6awyHMshBGVjJ3ozdSJdyyDE1CTAXUwrpNMaRGMsb4sf` to the new Squads treasury * Notify LPs to withdraw liquidity from the existing pools * Withdraw protocol-owned liquidity from Meteora * Migrate liquidity to a new AMM LP with: * 0.5% fee tier * Initial price set at time of liquidity removal * Launch the migration frontend upon passing * Supports frontend and script-based interactions * Update token information across: * CoinMarketCap * CoinGecko * Blockworks * Update internal systems (UI, SDKs, tools) * Notify tokenholders and custodians with clear instructions * Announce each milestone publicly as it's completed ## **References** * New META token with 20,865,160.717538 supply `METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta` * Launch a new v0.5 DAO using META as its `base_token` * `Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km` * Reduced passing threshold to 1.5% * Established a 120k USDC spending limit monthly * Expected burn is \~$80k, with max previously $120k * Transferred mint and update authority for META to the new DAO controlled Squads vault * `BxgkvRwqzYFWuDbRjfTYfgTtb41NaFw1aQ3129F79eBT` * Deploy a permanent migration contract that accepts METAC and releases META 1:1000 * Program `gr8tqq2ripsM6N46gLWpSDXtdrH6J9jaXoyya1ELC9t` * Deployment `4viadAyxnRpHyW2g2NEzjLwGGgLTQK2QBmniJJqXWpXN` * [Meteora Protocol Owned Liquidity](https://www.meteora.ag/pools/6t2CdBC26q9tj6jBwPzzFZogtjX8mtmVHUmAFmjAhMSn) * [Current MetaDAO Treasury (Solana Explorer)](https://explorer.solana.com/address/C6DaJNGP1Xsd1seePqn8BPfQWMxsbBoUSf6Kbagmta2T/tokens) * [METAC Token on Solscan](https://solscan.io/token/METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr) * [META Token on Solscan](https://solscan.io/token/METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta) * [MetaDAO on CoinMarketCap](https://coinmarketcap.com/currencies/meta-dao/) * [MetaDAO on CoinGecko](https://www.coingecko.com/en/coins/meta-2)