0661389406
- Source: inbox/archive/2024-02-20-futardio-proposal-develop-multi-option-proposals.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 2) Pentagon-Agent: Rio <HEADLESS>
3.5 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposer | proposal_url | proposal_date | resolution_date | category | summary | tracked_by | created |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | decision_market | MetaDAO: Develop Multi-Option Proposals? | internet-finance | failed | metadao | futardio | agrippa | https://www.futard.io/proposal/J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHht | 2024-02-20 | 2024-02-25 | mechanism | Proposal to develop multi-option proposal functionality for MetaDAO, allowing multiple mutually-exclusive outcomes beyond binary Pass/Fail, with 200 META compensation across four milestones | rio | 2026-03-11 |
MetaDAO: Develop Multi-Option Proposals?
Summary
Proposal by agrippa to build multi-option proposal functionality for MetaDAO's futarchy implementation, enabling proposals with multiple mutually-exclusive outcomes rather than binary Pass/Fail. Requested 200 META distributed across four development milestones. The proposal failed despite the proposer's technical credentials and detailed value argument.
Market Data
- Outcome: Failed
- Proposer: agrippa (99dZcXhrYgEmHeMKAb9ezPaBqgMdg1RjCGSfHa7BeQEX)
- Proposal account: J7dWFgSSuMg3BNZBAKYp3AD5D2yuaaLUmyKqvxBZgHht
- Created: 2024-02-20
- Completed: 2024-02-25
Compensation Structure
- Total: 200 META across 4 milestones
- Milestone 1: 50 META upon passage
- Milestone 2: 50 META upon completing multi-modal conditional vault program
- Milestone 3: 50 META upon integrating futarch with multi-modal vaults
- Milestone 4: 50 META upon frontend integration
- Oversight: 3/5 multisig (Proph3t, DeanMachine, 0xNallok, LegalizeOnionFutures, sapphire)
- Multisig compensation: 2.5 META per member upon passage
Proposer Background
- Led development on Solana Labs governance-ui (Realms frontend) for one year
- Developed first conditional tokens vault on Solana (FTX-funded precogparty project)
- Started one of the first high-school blockchain clubs (2014)
- Research at Cornell's Initiative for Cryptocurrency and Contracts
- Invited to 2017 smart contract summit in China (with Vitalik)
Value Argument
Proposer estimated +12.1% value to MetaDAO from:
- +5% from exponential increase in decision-making bandwidth
- +5% from solving pork barrel problem through draft-stage alternatives
- +2% from governance innovation hype
- +0.1% from fee revenue on conditional vault usage by other protocols
With 14,416 META circulating supply, proposer calculated feature worth 1,744 META dilution, requesting 200 META (11.5% of estimated value).
Significance
This proposal is significant for mechanism design evolution in futarchy. It represents an attempt to expand futarchy from binary decisions to multi-option selection, addressing a fundamental limitation in the original Hanson design. The failure suggests either market skepticism about the value proposition, concerns about execution risk, or liquidity constraints in the conditional markets.
The detailed technical specification and value quantification represent a high-quality proposal format that became a template for later MetaDAO proposals.
Relationship to KB
- metadao — parent organization
- futardio — platform where proposal was submitted
- 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 — current binary architecture this proposal aimed to extend
- proph3t — multisig member
- nallok — multisig member