teleo-codex/inbox/archive/2024-08-14-futardio-proposal-develop-memecoin-launchpad.md

type	title	author	url	date	domain	format	status	tags	event_type
source	Futardio: Develop Memecoin Launchpad?	futard.io	https://www.futard.io/proposal/J57DcV2yQGiDpSetQHui6Piwjwsbet2ozXVPG77kTvTd	2024-08-14	internet-finance	data	unprocessed	futardio metadao futarchy solana governance	proposal

Proposal Details

• Project: MetaDAO
• Proposal: Develop Memecoin Launchpad?
• Status: Failed
• Created: 2024-08-14
• URL: https://www.futard.io/proposal/J57DcV2yQGiDpSetQHui6Piwjwsbet2ozXVPG77kTvTd
• Description: MetaDAO now has a platform for creating and participating in futarchies. The central problem is distributing it: getting people and organizations to use futarchy.
• Categories: {'category': 'Governance'}, {'category': 'Dao'}

Summary

🎯 Key Points

MetaDAO proposes to create "futardio," a memecoin launchpad that allocates a portion of each new token's supply to a futarchy DAO, with the aim to drive adoption and usage of futarchy within the memecoin market.

📊 Impact Analysis

👥 Stakeholder Impact

The proposal could attract memecoin holders and organizations interested in decentralized governance, enhancing community engagement.

📈 Upside Potential

Successful implementation could significantly increase visibility and usage of futarchy, potentially leading to improved governance mechanisms and more robust product development.

📉 Risk Factors

The initiative may undermine the perceived seriousness of futarchy and distract from MetaDAO's core focus, potentially complicating future recruitment and partnerships.

Content

MetaDAO now has a platform for creating and participating in futarchies. The central problem is distributing it: getting people and organizations to use futarchy.

One of the ideal use-cases for futarchy is memecoin governance. This is because memecoin holders only want the price of the token to increase. There’s no question of “maybe the market knows what’s the best short-term action, but not the best long-term action.”

Coincidentally, there appears to be an opening in the market to launch “pump.fun with a token.” Such a platform may be able to bootstrap adoption by issuing points that convert into a token that receives the revenue generated by the platform.

For these reasons, I had the idea to create “futardio,” a memecoin launchpad with said bootstrapping mechanism where a portion of every launched memecoin gets allocated to a futarchy DAO.

We are not sure whether it makes sense for MetaDAO to release such a platform. There are potential advantages and potential pitfalls. So we are putting this decision up to the market. If this proposal passes, MetaDAO will develop and release futardio. If it fails, it will not.

Details

The key ideas are expressed in https://futard.io.

The details of Futardio would be:

• A memecoin launchpad where some percentage of every new token’s supply gets allocated to its futarchy DAO

• When users increase key metrics (e.g., volume), they earn points

• After a period of time not exceeding 180 days, these points would convert into a new token (‘$FUTA’)

• FUTA would be distributed to solely two parties: points owners and MetaDAO

• All revenue from Futardio would be distributed to a vault that can be claimed by FUTA holders

• By the time the token is live, Futardio would be immutable and decentralized. The program would be immutable, open-source, and verifiable, with any parameters being governed by MetaDAO. The website would be deployed immutably on IPFS or Arweave. Futardio would be a gambling hyperstructure.

• The goal would be to launch it in Q3.

• Nallok and Proph3t wouldn’t be the core team, but they would support a team and fund them with a $100k grant paid over 6 months. If a team hasn’t started work by the end of Q3, the money would be returned and the project idea cancelled.

This would all be left to the discretion of the team building it, but they would be expected to follow the broad outline.

Potential advantages

• Drive attention and usage to futarchy

• More exposure

• More usage helps MetaDAO improve the product

• Provides more proof points of futarchy

• If MetaDAO sells some of its tokens or stakes them to the vault, it could receive cash to fund future activities

• Create a forcing function to improve the security of the core futarchy platform

Potential pitfalls

• Makes futarchy look less serious

• May make it harder to sell DeFi DAOs / non-crypto organizations

• May make it harder to recruit contributors

• Time & energy investment

• Would prevent MetaDAO from solely focusing on the core platform

Raw Data

• Proposal account: J57DcV2yQGiDpSetQHui6Piwjwsbet2ozXVPG77kTvTd
• Proposal number: 5
• DAO account: CNMZgxYsQpygk8CLN9Su1igwXX2kHtcawaNAGuBPv3G9
• Proposer: 65U66fcYuNfqN12vzateJhZ4bgDuxFWN9gMwraeQKByg
• Autocrat version: 0.3
• Completed: 2024-08-18
• Ended: 2024-08-18