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teleo-codex/decisions/internet-finance/metadao-create-spot-market-meta.md
m3taversal 1fec6a82fb rio: decision records batch 2b — backfill remaining 16 MetaDAO proposals with full text 
- What: Rewrote all remaining existing MetaDAO decision records with full
  verbatim proposal text, correct v1.metadao.fi URLs, Summary & Connections
- Records (16):
  Q3 Roadmap, Create Spot Market, Multi-Option Proposals, Execute Spot Market,
  Hire Advaith, Hire Robin Hanson, Dutch Auction Liquidity, Migrate v0.1,
  Migrate v0.2, Migrate META Token, Release Launchpad, Services Agreement,
  Swap $150K ISC, Token Split (failed), Saber Vote Market, Create Futardio (failed)
- This completes the backfill of ALL 27 existing MetaDAO governance decision
  records. Combined with batch 1 (5 new) and batch 2 (10 rewrites), all 32
  MetaDAO governance proposals now have full text with correct URLs.
- Only metadao-vc-discount-rejection remains without full source text (from
  Q1 2026 update, not Ben's API)

Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
2026-03-24 13:37:04 +00:00

4.4 KiB
Raw Blame History

type entity_type name domain status parent_entity platform proposer proposal_url proposal_date resolution_date category summary key_metrics tags tracked_by created last_updated
decision decision_market MetaDAO: Create Spot Market for META? internet-finance passed metadao metadao Proph3t https://v1.metadao.fi/metadao/trade/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b 2024-01-12 2024-01-18 strategy Proposal 3 (Autocrat v0.1) — Create first public META spot market. $75K hard cap token sale at TWAP price. $35K allocated to LP creation. If this fails, MetaDAO can't raise from public markets until March 12, 2024.
proposal_number proposal_account autocrat_version hard_cap lp_allocation
3 9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b 0.1 $75,000 $35,000
metadao
spot-market
token-sale
liquidity
passed
rio 2026-03-11 2026-03-24

MetaDAO: Create Spot Market for META?

Summary & Connections

Proposal 3 (Autocrat v0.1) — the first public META market. $75K hard cap token sale priced at the TWAP of the passing proposal. $35K allocated to create an LP. Anyone can participate. If the proposal fails, no public market raises until March 12, 2024.

Outcome: Passed (2024-01-18). This created the first liquid META market.

Connections:

  • This is the precursor to all subsequent OTC trades and fundraises — without a spot market, there's no price discovery and no reference price for OTC deals
  • The "if this fails, no raise until March 12" clause is a commitment device — the market knows it's deciding between a market now or no market for 2 months. This raises the stakes of the vote.
  • Led directly to metadao-execute-creation-of-spot-market-for-meta (Proposal 5) which executed the actual sale
  • Initial spot price set at $35 USDC/META through the LP pairing — compare with $695 spot just 5 weeks later during the Ben Hawkins proposals. ~20x appreciation in the first month of public trading.

Full Proposal Text

Overview

The purpose of this proposal is to initiate the creation of a spot market for $META tokens, allowing broader public access to the token and establishing liquidity. The proposed market will be funded through the sale of $META tokens, and the pricing structure will be determined based on the Time-Weighted Average Price (TWAP) of the proposal that passes. The funds raised will be utilized to support the Meta-DAO's ongoing initiatives and operations.

Key Components

Token Sale Structure:

  • The initial token sale will involve the Meta-DAO selling $META tokens to the public. Anyone can participate.
  • The sale price per $META token will be set at the TWAP of the last passing proposal.
  • In case of this proposal failing, the sale will not proceed and Meta-DAO can't raise from public markets till 12 March 2024.

Liquidity Pool Creation:

  • A liquidity pool (LP) will be established to support the spot market.
  • Funding for the LP will come from the token sale, with approximately $35,000 allocated for this purpose.

Token Sale Details:

  • Hard cap: 75,000 USDC
  • Sale Price: TWAP of this passing proposal
  • Sale Quantity: Hard cap / Sale Price
  • Spot Market Opening Price: To be determined, potentially higher than the initial public sale price.

Liquidity Pool Allocation:

  • LP Token Pairing: $META tokens from treasury paired with approximately $35,000 USDC.
  • Any additional funds raised beyond the LP allocation will be reserved for operational funding in $SOL tokens.

Next Steps

  1. If approved, initiate the token sale using the most convenient methodology to maximize the event. Proceed with the creation of the SMETA spot market.
  2. In case of failure, Meta-DAO will be unable to raise funds until March 12, 2024.

Conclusion

This proposal aims to enhance the Meta-DAO ecosystem experience by introducing a spot market for $META tokens. The proposal invites futards to actively participate in shaping the future of the $META token.

Raw Data

  • Proposal account: 9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b
  • Proposal number: 3
  • DAO account: 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy
  • Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
  • Autocrat version: 0.1
  • Completed: 2024-01-18

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