55 lines
No EOL
3.2 KiB
Markdown
55 lines
No EOL
3.2 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "Solomon: Futardio ICO Launch"
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domain: internet-finance
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status: passed
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parent_entity: "[[solomon]]"
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platform: "futardio"
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proposer: "Solomon Labs"
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proposal_url: "https://v1.metadao.fi/solomon/trade/634r63NH2qbTrSVyLieC3Ab3YKaEfoGnCLM8idZMEycE"
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proposal_date: 2025-11-14
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resolution_date: 2025-11-18
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category: "launch"
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summary: "Solomon Labs raised $8M via MetaDAO ICO for composable yield-bearing stablecoin (USDv) — $102.9M committed against $2M minimum"
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tracked_by: rio
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created: 2026-03-24
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source_archive: "inbox/archive/2025-11-14-futardio-launch-solomon.md"
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related:
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- "Solomon: DP-00002 — SOLO Acquisition and Restricted Incentives Reserve"
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- "Solomon: DP-00001 — Treasury Subcommittee and Legal Budget"
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reweave_edges:
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- "Solomon: DP-00002 — SOLO Acquisition and Restricted Incentives Reserve|related|2026-04-19"
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- "Solomon: DP-00001 — Treasury Subcommittee and Legal Budget|related|2026-04-19"
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---
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# Solomon: Futardio ICO Launch
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## Summary
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Solomon Labs, building USDv (a composable yield-bearing stablecoin on Solana), raised $8M via MetaDAO's futarchy-governed ICO. $102.9M committed against $2M minimum (51.5x oversubscribed). USDv stays at $1 via two-way market making, earns yield from basis trade strategy (long spot, short perp) and T-bills. Yield delivered via sUSDv (permissionless staking) or Yield-as-a-Service for protocols. Ran live in closed beta for one year with seven-figure TVL and zero incidents through multiple market shocks.
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## Market Data
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- **Outcome:** Complete
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- **Total Committed:** $102,932,673
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- **Final Raise:** $8,000,000
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- **Minimum:** $2,000,000
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- **Duration:** 2025-11-14 to 2025-11-18
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- **Token:** SOLO (SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta)
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## Significance
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Largest MetaDAO ICO by commitment volume ($102.9M). Demonstrates that futarchy-governed fundraising can attract institutional-scale capital for infrastructure projects. Solomon's approach — composable stablecoin with basis trade yield — represents DeFi infrastructure rather than speculative memecoin, validating MetaDAO's expansion beyond governance experiments.
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## Relationship to KB
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- [[solomon]] — parent entity
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- [[metadao]] — ICO platform
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- [[MetaDAO oversubscription is rational capital cycling under pro-rata not governance validation]] — Solomon's 51.5x is another instance of pro-rata capital cycling
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## Full Proposal Text
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*Source: futard.io, launched 2025-11-14*
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Solomon is building a more composable dollar that stays at $1, doesn't rebase, and earns. Over $150B of stable capital is idle across chains because yield designs require staking into a separate, drifting or rebasing unit that breaks composability.
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USDv: Solana-native, composable, kept at $1 via two-way market making. Stake for sUSDv (permissionless) or use Yield-as-a-Service for direct USDv yield. Yield from basis trade strategy (long spot, short perp) and T-bills. Automated trading infrastructure with custody segregated via Ceffu with insurance. Programs audited, admin via Squads multisig.
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Raise: $2M minimum, $5-8M ideal target. Uses: treasury yield generation (~16% APR), liquidity mining for TVL growth, deeper USDv/USDC liquidity, improved venue terms. Default structure: 20% to seed liquidity, 80% to DAO treasury. |