m3taversal
be8ff41bfe
Wrote sourced_from: into 414 claim files pointing back to their origin source. Backfilled claims_extracted: into 252 source files that were processed but missing this field. Matching uses author+title overlap against claim source: field, validated against 296 known-good pairs from existing claims_extracted. Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
115 lines
7.9 KiB
Markdown
115 lines
7.9 KiB
Markdown
---
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type: source
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title: "Futardio: Burn 99.3% of META in Treasury?"
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author: "futard.io"
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url: "https://www.futard.io/proposal/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU"
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date: 2024-03-03
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domain: internet-finance
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format: data
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status: processed
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tags: [futardio, metadao, futarchy, solana, governance]
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event_type: proposal
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derived_items:
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- "decisions/internet-finance/metadao-burn-993-percent-meta.md"
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claims_extracted:
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- "shared-liquidity-amms-could-solve-futarchy-capital-inefficiency-by-routing-base-pair-deposits-into-all-derived-conditional-token-markets"
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- "prosocial-fee-allocation-in-crypto-platforms-functions-as-a-retention-mechanism-by-attaching-charitable-identity-to-speculative-trading"
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- "token-migration-fees-distributed-to-staked-nft-holders-create-revenue-sharing-without-direct-dao-treasury-capture"
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- "myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment"
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- "protocol-specific-first-loss-staking-creates-stronger-defi-insurance-underwriting-incentives-than-socialized-coverage-pools-because-stakers-bear-concentrated-losses-on-protocols-they-select"
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- "futarchy-governed permissionless launches require brand separation to manage reputational liability because failed projects on a curated platform damage the platforms credibility"
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- "futardio-platform-shows-bimodal-launch-distribution-where-most-projects-refund-but-viral-community-resonant-projects-raise-100x-targets"
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- "seyf-demonstrates-intent-based-wallet-architecture-where-natural-language-replaces-manual-defi-navigation"
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- "areal-demonstrates-rwa-tokenization-with-vehicle-pilot-achieving-26-percent-apy-through-carsharing-revenue"
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- "house-mode-betting-against-protocol-enables-prediction-markets-to-function-with-uneven-liquidity-by-having-the-platform-take-counterparty-risk"
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- "futarchy-ico-capital-inflows-concentrate-in-final-24-hours-creating-massive-acceleration-into-close"
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- "defi-insurance-hybrid-claims-assessment-routes-clear-exploits-to-automation-and-ambiguous-disputes-to-governance-resolving-the-speed-fairness-tradeoff"
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- "areal-targets-smb-rwa-tokenization-as-underserved-market-versus-equity-and-large-financial-instruments"
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- "treasury-buyback-model-creates-constant-buy-pressure-by-converting-revenue-to-governance-token-purchases"
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- "dao-event-perks-as-governance-incentives-create-plutocratic-access-structures-that-may-reduce-rather-than-increase-participation"
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- "token-migration-projected-revenue-assumes-linear-adoption-without-accounting-for-market-saturation-or-competitive-dynamics"
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- "memecoin-governance-is-ideal-futarchy-use-case-because-single-objective-function-eliminates-long-term-tradeoff-ambiguity"
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- "futuredao-token-migrator-enables-community-takeovers-through-structured-on-chain-migration-with-presale-fundraising-and-conditional-success-thresholds"
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- "algorithm-driven-social-feeds-create-attention-to-liquidity-conversion-in-meme-token-markets"
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- "futarchy-governed-memecoin-launchpads-face-reputational-risk-tradeoff-between-adoption-and-credibility"
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- "tridash-implements-60-second-prediction-markets-as-multiplayer-game-mechanics-compressing-resolution-time-from-days-to-seconds"
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- "seyf-futardio-fundraise-raised-200-against-300000-target-signaling-near-zero-market-traction-for-ai-native-wallet-concept"
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- "areal-proposes-unified-rwa-liquidity-through-index-token-aggregating-yield-across-project-tokens"
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- "permissionless launch platforms generate high failure rates that function as market-based quality filters because only projects attracting genuine capital survive while failed attempts carry zero reputational cost to the platform"
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---
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## Proposal Details
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- Project: MetaDAO
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- Proposal: Burn 99.3% of META in Treasury?
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- Status: Passed
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- Created: 2024-03-03
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- URL: https://www.futard.io/proposal/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU
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- Description: Burn 99.3% of META in Treasury?
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## Summary
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### 🎯 Key Points
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The proposal aims to burn approximately 99.3% of treasury-held META tokens to reduce the Fully Diluted Valuation (FDV), enhance the attractiveness of META for investors, and promote community engagement.
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### 📊 Impact Analysis
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#### 👥 Stakeholder Impact
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This action seeks to encourage broader participation from potential investors and community members by lowering the FDV.
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#### 📈 Upside Potential
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The reduction in token supply could increase demand and perceived value of META, leading to improved investor interest and engagement.
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#### 📉 Risk Factors
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Burning a significant portion of tokens may limit future financial flexibility and could deter investors concerned about long-term supply dynamics.
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## Content
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#### Authors
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doctor.sol & rar3
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### Overview
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Burn ~99.3% `979,000` of treasury-held META tokens to significantly reduce the FDV, with the goal of making META more appealing to investors and enhancing community engagement.
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### Background
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The META DAO is currently perceived to have a **high Fully Diluted Valuation (FDV)** due to the substantial amount of META tokens in the treasury, approximately `985,000 tokens`. This high FDV often **discourages potential investors and participants** from engaging with META, as they may perceive the investment as less attractive right from the start.
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### Issue at Hand
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The primary concern is that the high FDV and treasury leads to the following problems:
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1. **It encourages the use of META for expenses.**
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2. **It lowers the attractiveness of META as an investment opportunity** at face value.
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3. **It reduces the number of individuals willing to participate** in this futuarchy experiment.
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While a high FDV can deter less informed community members, which has its benefits, it also potentially wards off highly valuable community members who could contribute positively.
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#### Examples
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- https://imgur.com/a/KHMjJqo
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- https://imgur.com/a/3DH2jcO
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### Proposed Solution
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We propose **burning approximately ~99.3%** of the META tokens -`99,000 tokens` - currently held in the DAO's treasury. This action is aimed at achieving the following outcomes:
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- **Elimination of Treasury META Payments**: Reduces the propensity to utilize $META from the treasury for proposal payments, promoting a healthier economic framework.
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- **Market-Based Token Acquisition**: Future requirements for $META tokens will necessitate market purchases, fostering demand and enhancing token value.
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- **Prioritization of $USDC and Revenue**: Shifting towards $USDC payments and focusing on revenue generation marks a move towards financial sustainability and robustness.
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- **Confidence Boost in META**: By significantly reducing the supply of META tokens, we signal a strong commitment to the token's value, **potentially leading to increased interest and participation in prop 10 execution.**
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- **Attracting a Broader Community**: Lowering the FDV makes META more attractive at face value, inviting a wider range of participants, including those who conduct thorough research and those attracted by the token's perceived tokenomics.
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### Rundown of Numbers:
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- **Current Treasury:** `982,464 META tokens`
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- **After Burning:** `3,464 META tokens`
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- **Post-Proposition 10:** An expected `1,000 META tokens` should be added back from multisig after prop 10, ranging anywhere from `0 to 3,000 META`.
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- **Final Treasury:** After burning, the treasury would have around `4,500 META`, valued at `$4 million`, plus `$2 million in META-USDC LP` at todays price `$880 / META`.
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- **Total META supply:** `20,885`
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#### Note
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Adopting this proposal does **not permanently cap our token supply.** The community is currently discussing the possibility of transitioning to a **mintable token model**, which would provide the flexibility to issue more tokens if the need arises.
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## Raw Data
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- Proposal account: `ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU`
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- Proposal number: 11
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- DAO account: `7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy`
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- Proposer: `Pr11UFzumi5GXoZVtnFHDpB6NiWM3XH57L6AnKzXyzD`
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- Autocrat version: 0.1
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- Completed: 2024-03-08
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- Ended: 2024-03-08
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