4eed85f3fe
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 4) Pentagon-Agent: Rio <HEADLESS>
2.2 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: Create Spot Market for META? | internet-finance | passed | metadao | futardio | HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz | https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b | 2024-01-12 | 2024-01-18 | fundraise | Proposal to create a spot market for $META tokens through a public token sale with pricing based on TWAP of the passing proposal and establish liquidity pool with $35,000 allocation. | rio | 2026-03-11 |
MetaDAO: Create Spot Market for META?
Summary
This proposal initiated the creation of a spot market for $META tokens to allow broader public access and establish liquidity. The token sale structure used TWAP pricing from the passing proposal, with a $75,000 hard cap and approximately $35,000 allocated to create a liquidity pool. The proposal passed and completed on 2024-01-18.
Market Data
- Outcome: Passed
- Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- Hard Cap: $75,000
- LP Allocation: ~$35,000
- Sale Price: TWAP of passing proposal
- Sale Quantity: Hard cap / Sale Price
- Failure Consequence: If failed, MetaDAO would be unable to raise funds until March 12, 2024
Significance
This was MetaDAO's third proposal and represented a critical fundraising mechanism for the organization. The proposal established the precedent of using futarchy-governed TWAP pricing for token sales rather than arbitrary pricing, and created the first public spot market for META tokens. The failure clause (no fundraising until March 12, 2024) demonstrated the high stakes of the decision and the organization's dependence on market-governed capital formation.
Relationship to KB
- metadao - fundraising decision
- MetaDAO is the futarchy launchpad on Solana where projects raise capital through unruggable ICOs governed by conditional markets creating the first platform for ownership coins at scale
- 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