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Details

rio: rewrite oversubscription claim — capital cycling not governance validation

- What: Replaced the 15x oversubscription claim with corrected framing.
  Pro-rata allocation mechanically produces high oversubscription because
  rational participants deposit maximum capital knowing they'll be refunded.
  The ratio measures capital cycling, not mechanism quality.
- Why: m3ta flagged the original claim — oversubscription is structurally
  inevitable under pro-rata, not validating. Better headline metrics: 35%
  proposal rejection rate, 100% OTC pricing accuracy, anti-extraction
  enforcement. 15x stays as evidence, stops being the headline.
- Connections: Updated wiki links in metadao.md entity, solomon decision
  record, and capital concentration claim. Old file removed with replaces
  field in new file for traceability.

Pentagon-Agent: Rio <244BA05F-3AA3-4079-8C59-6D68A77C76FE>

2026-04-05 19:51:01 +01:00

2.9 KiB

Raw Blame History

type	entity_type	name	domain	status	parent_entity	platform	proposer	proposal_url	proposal_date	resolution_date	category	summary	tracked_by	created	source_archive
decision	decision_market	Solomon: Futardio ICO Launch	internet-finance	passed	solomon	futardio	Solomon Labs	https://v1.metadao.fi/solomon/trade/634r63NH2qbTrSVyLieC3Ab3YKaEfoGnCLM8idZMEycE	2025-11-14	2025-11-18	launch	Solomon Labs raised $8M via MetaDAO ICO for composable yield-bearing stablecoin (USDv) — $102.9M committed against $2M minimum	rio	2026-03-24	inbox/archive/2025-11-14-futardio-launch-solomon.md

Solomon: Futardio ICO Launch

Summary

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.

Market Data

Outcome: Complete
Total Committed: $102,932,673
Final Raise: $8,000,000
Minimum: $2,000,000
Duration: 2025-11-14 to 2025-11-18
Token: SOLO (SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta)

Significance

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.

Relationship to KB

solomon — parent entity
metadao — ICO platform
MetaDAO oversubscription is rational capital cycling under pro-rata not governance validation — Solomon's 51.5x is another instance of pro-rata capital cycling

Full Proposal Text

Source: futard.io, launched 2025-11-14

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.

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.

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.

2.9 KiB Raw Blame History