m3taversal
1fec6a82fb
- 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>
90 lines
4.4 KiB
Markdown
90 lines
4.4 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "MetaDAO: Create Spot Market for META?"
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domain: internet-finance
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status: passed
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parent_entity: "[[metadao]]"
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platform: metadao
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proposer: "Proph3t"
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proposal_url: "https://v1.metadao.fi/metadao/trade/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b"
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proposal_date: 2024-01-12
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resolution_date: 2024-01-18
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category: strategy
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summary: "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."
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key_metrics:
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proposal_number: 3
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proposal_account: "9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b"
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autocrat_version: "0.1"
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hard_cap: "$75,000"
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lp_allocation: "$35,000"
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tags: [metadao, spot-market, token-sale, liquidity, passed]
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tracked_by: rio
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created: 2026-03-11
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last_updated: 2026-03-24
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---
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# MetaDAO: Create Spot Market for META?
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## Summary & Connections
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**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.
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**Outcome:** Passed (2024-01-18). This created the first liquid META market.
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**Connections:**
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- 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
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- 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.
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- Led directly to [[metadao-execute-creation-of-spot-market-for-meta]] (Proposal 5) which executed the actual sale
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- 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.
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---
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## Full Proposal Text
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### Overview
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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.
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### Key Components
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**Token Sale Structure:**
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- The initial token sale will involve the Meta-DAO selling $META tokens to the public. Anyone can participate.
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- The sale price per $META token will be set at the TWAP of the last passing proposal.
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- In case of this proposal failing, the sale will not proceed and Meta-DAO can't raise from public markets till 12 March 2024.
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**Liquidity Pool Creation:**
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- A liquidity pool (LP) will be established to support the spot market.
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- Funding for the LP will come from the token sale, with approximately $35,000 allocated for this purpose.
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**Token Sale Details:**
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- Hard cap: 75,000 USDC
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- Sale Price: TWAP of this passing proposal
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- Sale Quantity: Hard cap / Sale Price
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- Spot Market Opening Price: To be determined, potentially higher than the initial public sale price.
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**Liquidity Pool Allocation:**
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- LP Token Pairing: $META tokens from treasury paired with approximately $35,000 USDC.
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- Any additional funds raised beyond the LP allocation will be reserved for operational funding in $SOL tokens.
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### Next Steps
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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.
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2. In case of failure, Meta-DAO will be unable to raise funds until March 12, 2024.
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### Conclusion
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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.
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---
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## Raw Data
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- Proposal account: `9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b`
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- Proposal number: 3
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- DAO account: `7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy`
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- Proposer: `HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz`
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- Autocrat version: 0.1
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- Completed: 2024-01-18
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## Relationship to KB
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- [[metadao]] — parent entity, first public market
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- [[metadao-execute-creation-of-spot-market-for-meta]] — the execution proposal that followed
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