0da42ebbf1
Separates governance decisions from entities. decision_market type replaced
by type: decision in new decisions/ directory. Entities (companies, people,
protocols) remain in entities/{domain}/.
Architecture: Leo (schema), Rio (taxonomy), Ganymede (migration), Rhea (ops)
Implemented by: Epimetheus
Pentagon-Agent: Epimetheus <968B2991-E2DF-4006-B962-F5B0A0CC8ACA>
2.6 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposer | proposal_url | proposal_date | resolution_date | category | summary | tracked_by | created |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| decision | decision_market | MetaDAO: Engage in $50,000 OTC Trade with Pantera Capital | internet-finance | failed | metadao | futardio | HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz | https://www.futard.io/proposal/H59VHchVsy8UVLotZLs7YaFv2FqTH5HAeXc4Y48kxieY | 2024-02-18 | 2024-02-23 | fundraise | Pantera Capital proposed acquiring $50,000 USDC worth of META tokens through OTC trade with 20% immediate transfer and 80% vested over 12 months | rio | 2026-03-11 |
MetaDAO: Engage in $50,000 OTC Trade with Pantera Capital
Summary
Pantera Capital proposed a $50,000 OTC purchase of META tokens from The Meta-DAO treasury, structured as 20% immediate transfer and 80% linear vesting over 12 months. The price per META was to be determined as the minimum of the average TWAP of pass/fail markets and $100. The proposal failed, indicating market rejection of the terms or strategic direction.
Market Data
- Outcome: Failed
- Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- Amount: $50,000 USDC
- Price Formula: min((twapPass + twapFail) / 2, 100)
- Vesting: 20% immediate, 80% linear over 12 months via Streamflow
- META Spot Price (2024-02-17): $96.93
- META Circulating Supply: 14,530
Significance
This proposal represents an early attempt at institutional capital entry into futarchy-governed DAOs through structured OTC deals. The failure is notable because it suggests either:
- Market skepticism about the valuation terms (price cap at $100 vs spot of $96.93)
- Concern about dilution impact on existing holders
- Strategic disagreement with bringing institutional capital into governance
The proposal included sophisticated execution mechanics (multisig custody, TWAP-based pricing, Streamflow vesting) that became templates for later fundraising structures. The involvement of multiple community members (0xNallok, 7Layer, Proph3t) as multisig signers showed early governance scaffolding.
Relationship to KB
- metadao - failed fundraising proposal
- futarchy-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control - tested institutional OTC structure
- 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 - used TWAP pricing mechanism