---
type: entity
entity_type: decision_market
name: "MetaDAO: Burn 99.3% of META in Treasury"
domain: internet-finance
status: passed
tracked_by: rio
created: 2026-03-11
last_updated: 2026-03-11
parent_entity: "[[metadao]]"
platform: "futardio"
proposer: "doctor.sol & rar3"
proposal_url: "https://www.futard.io/proposal/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU"
proposal_date: 2024-03-03
resolution_date: 2024-03-08
category: treasury
summary: "Burn ~979,000 of 982,464 treasury-held META tokens to reduce FDV and attract investors"
tags: ["futarchy", "tokenomics", "treasury-management", "meta-token"]
---

# MetaDAO: Burn 99.3% of META in Treasury

## Summary
Proposal to burn approximately 99.3% of treasury-held META tokens (~979,000 of 982,464) to significantly reduce the Fully Diluted Valuation. Passed on Autocrat v0.1. The high FDV was perceived as discouraging investors and limiting participation in the futarchy experiment. Post-burn treasury: ~4,500 META valued at ~$4M plus ~$2M in META-USDC LP at the time ($880/META). Total META supply after burn: ~20,885.

## Market Data
- **Outcome:** Passed (2024-03-08)
- **Autocrat version:** 0.1
- **Key participants:** doctor.sol & rar3 (authors), Proph3t (executor)

## Significance
One of the most consequential early MetaDAO governance decisions. The burn fundamentally changed MetaDAO's token economics — eliminating the treasury's ability to pay in META and forcing future operations to use USDC or market-purchase META. This created a natural scarcity signal but also meant the DAO would eventually need mintable tokens (which the proposal explicitly noted as a future possibility). The burn set the stage for the later token split and elastic supply debates.

The proposal also reveals early futarchy dynamics: community members (not founders) proposed a radical tokenomics change, and the market approved it. This is a concrete example of futarchy enabling non-founder governance proposals with material treasury impact.

## Relationship to KB
- [[metadao]] — governance decision, treasury management
- [[futarchy enables trustless joint ownership by forcing dissenters to be bought out through pass markets]] — demonstrates market-governed treasury decisions
- [[ownership coin treasuries should be actively managed through buybacks and token sales as continuous capital calibration not treated as static war chests]] — burn as extreme active management
- [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]] — this burn directly created the conditions that made mintable tokens necessary

---

Relevant Entities:
- [[metadao]] — parent organization
- [[proph3t]] — executor

Topics:
- [[internet finance and decision markets]]