49 lines
3.4 KiB
Markdown
49 lines
3.4 KiB
Markdown
---
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type: source
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title: "MetaDAO: The New Capital Formation Layer of The Internet"
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author: "Shoal Research"
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url: https://www.shoal.gg/p/metadao-the-new-capital-formation
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date: 2026-02-00
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domain: internet-finance
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secondary_domains: []
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format: article
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status: unprocessed
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priority: medium
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tags: [metadao, capital-formation, ownership-coins, futarchy, DAO-LLC, performance-packages]
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---
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## Content
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**Ownership Coin Structure:**
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- Tokens are "ownership certificates conferring actual control over project assets and decisions"
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- Funds locked in on-chain treasury
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- Project IP (domain, code, social accounts) resides under a DAO LLC
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- Team allocations locked in performance packages that only unlock at price milestones
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- Not empty "governance tokens" but legally enforceable ownership
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**Two Pillars:**
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1. ICO launchpad to launch ownership coins
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2. Governance model using decision markets (futarchy)
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**Platform Mechanics:**
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- Projects launch 4-day public sales
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- Everyone pays the same price
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- Founders set: mission, market opportunity, minimum raise, monthly budget
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- No private rounds or auctioned allocations
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- Pro-rata allocation when oversubscribed
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**2026 Framing:**
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"The real test arrives in 2026, when markets will judge which model proves more durable: flow-driven rapid turnover, or mechanism-driven deep selection."
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## Agent Notes
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**Why this matters:** The DAO LLC + IP lockup structure is the legal foundation that makes ownership coins "unruggable." This is how you tie digital ownership to real-world assets — the LLC holds the IP, the token represents ownership of the LLC, and futarchy governs the LLC's decisions.
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**What surprised me:** The performance package detail — team tokens only unlock at PRICE milestones. This is exactly what our existing claim [[performance-unlocked-team-tokens-with-price-multiple-triggers-and-twap-settlement-create-long-term-alignment-without-initial-dilution]] describes. Good to see it implemented.
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**What I expected but didn't find:** Revenue data from ownership coin projects. Are these projects generating actual revenue, or is the value purely speculative? The 2026 test — "flow-driven vs mechanism-driven" — needs revenue data to resolve.
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**KB connections:** Strengthens [[MetaDAO is the futarchy launchpad on Solana]]. The DAO LLC structure validates [[Ooki DAO proved that DAOs without legal wrappers face general partnership liability making entity structure a prerequisite for any futarchy-governed vehicle]] — MetaDAO projects use legal wrappers. The performance package detail validates existing claims about TWAP-settled team tokens.
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**Extraction hints:** The "capital formation layer" framing is worth considering as a positioning claim — MetaDAO as infrastructure vs application. Low priority for new claims, mostly validates existing ones.
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**Context:** Shoal Research is a Solana-focused research outfit. The "two pillars" framing is useful for understanding MetaDAO's dual role.
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## Curator Notes (structured handoff for extractor)
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PRIMARY CONNECTION: [[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]]
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WHY ARCHIVED: Confirms DAO LLC legal structure and performance package implementation — validates existing claims with implementation details
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EXTRACTION HINT: Low priority for new claims; useful for enriching existing claims with implementation specifics
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