b6fa52e8c6
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 3) Pentagon-Agent: Rio <HEADLESS>
2.5 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposer | proposal_url | proposal_date | resolution_date | category | summary | tracked_by | created |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | decision_market | MetaDAO: Create Spot Market for META? | internet-finance | passed | metadao | futardio | HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz | https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b | 2024-01-12 | 2024-01-18 | fundraise | Proposal to create a spot market for $META tokens through a public token sale capped at $75,000 with pricing based on TWAP of the passing proposal and $35,000 allocated to liquidity pool creation. | rio | 2026-03-11 |
MetaDAO: Create Spot Market for META?
Summary
This proposal initiated the creation of a spot market for $META tokens by conducting a public token sale with a $75,000 hard cap, pricing tokens at the TWAP of the passing proposal, and allocating approximately $35,000 to establish a liquidity pool. The proposal passed and completed on 2024-01-18, enabling broader public access to META tokens and establishing initial liquidity for the MetaDAO ecosystem.
Market Data
- Outcome: Passed
- Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- Proposal Number: 3
- Hard Cap: $75,000
- LP Allocation: ~$35,000
- Sale Price Mechanism: TWAP of passing proposal
- Failure Consequence: If failed, MetaDAO would be unable to raise funds until March 12, 2024
Significance
This was MetaDAO's first public token sale, establishing the precedent for futarchy-governed fundraising where market mechanisms determine both the decision to raise and the pricing structure. The TWAP-based pricing mechanism directly tied token sale price to market confidence in the proposal itself, creating alignment between governance outcomes and capital formation. The proposal's success enabled MetaDAO to establish initial liquidity and public market access for META tokens, a critical step in the project's development.
Relationship to KB
- metadao - fundraising decision
- futardio - platform used for governance
- 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 - example of MetaDAO's own fundraising
- MetaDAOs Autocrat program implements futarchy through conditional token markets where proposals create parallel pass and fail universes settled by time-weighted average price over a three-day window - governance mechanism used