m3taversal
8459dbada9
Co-authored-by: m3taversal <m3taversal@gmail.com> Co-committed-by: m3taversal <m3taversal@gmail.com>
80 lines
3.2 KiB
Markdown
80 lines
3.2 KiB
Markdown
---
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type: source
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title: "Futardio: ZKFG Restructuring Proposal"
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author: "futard.io"
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url: "https://www.metadao.fi/projects/zklsol/proposal/Gte4BCXKvQdzzN8sXMCXNwvKdrYSUHkTQWZVA8DECM2y"
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date: 2026-02-07
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domain: internet-finance
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format: data
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status: unprocessed
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tags: [futarchy, solana, governance, zklsol]
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event_type: proposal
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---
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## Proposal Details
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- Project: ZKLSOL
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- Proposal: ZKFG Restructuring Proposal
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- Status: Passed
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- Created: 2026-02-07
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- URL: https://www.metadao.fi/projects/zklsol/proposal/Gte4BCXKvQdzzN8sXMCXNwvKdrYSUHkTQWZVA8DECM2y
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- Description: If passed, this proposal would allocate up to 500,000 USDC to buy ZKFG at prices up to $0.076. And move 50% of the liquidity from the FutarchyAMM to the treasury.
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## Content
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**Type**
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Operations Direct Action
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**Author(s)**
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Proph3t
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**Summary**
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If passed, this proposal would allocate up to 500,000 USDC to buy ZKFG at prices up to $0.076. And move 50% of the liquidity from the FutarchyAMM to the treasury.
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**Motivation**
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When an ownership coin trades at a significant discount to NAV, the right thing to do is to do buybacks until it gets there. We communicate this to projects beforehand: you can raise more, but the money you raise will be at risk.
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Almost since inception, ZKFG has traded at a discount to NAV. It’s clear that today there is not $1M of demand for ZKFG.
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The market can change - at the later stages, Tesla came back from being [“within weeks of bankruptcy”](https://www.forbes.com/sites/christopherhelman/2018/11/28/elon-musk-said-tesla-was-single-digit-weeks-from-deathwheres-the-disclosures/?utm_source=chatgpt.com) and went on to grow their stock price 30-fold; at the earlier stages, Airbnb had great difficulty raising their first round of funding - but this is where it’s at today.
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We are proposing a big potential buyback in order to bring the system back into equilibrium and buy out the non-believers at accretive prices for the believers.
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**Logistics**
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500,000 USDC of treasury funds would go into a DCA order to purchase `ZKFHiLAfAFMTcDAuCtjNW54VzpERvoe7PBF9mYgmeta` (ZKFG) at a maximum price of 0.076 USDC per token. These orders will be placed every five minutes over a period of ~14 days (for a total of 4000 orders).
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The NAV per token was established by taking the 150,000 USDC in the treasury’s AMM position, the 575,000 USDC sitting in the treasury, the negligible amount of non-treasury cash (the estimate I got from the founder), and dividing by the 9,500,000 ZKFG in circulation.
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This proposal would move 50% of the liquidity in the FutarchyAMM to the treasury to be used for future operations.
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**Specifications**
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Amount: 500,000 USDC
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Order Type: Recurring
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Order Quantity: 4000
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Order Frequency: 5 minutes
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Maximum Order Price: 0.076
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Effective Time Horizon: ~14 days
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**NOTE:**
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Any funds remaining in the order (should it fail to complete its total number of orders in quantity) will go back to the treasury at the end of 14 days.
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All ZKFG tokens will be transferred to the treasury.
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## Raw Data
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- Proposal account: `Gte4BCXKvQdzzN8sXMCXNwvKdrYSUHkTQWZVA8DECM2y`
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- Proposal number: 4
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- DAO account: `5FPGRzY9ArJFwY2Hp2y2eqMzVewyWCBox7esmpuZfCvE`
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- Proposer: `tSTp6B6kE9o6ZaTmHm2ZwnJBBtgd3x112tapxFhmBEQ`
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- Autocrat version: 0.6
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