m3taversal
fdebd95137
New decision records with full proposal text for projects that previously had zero governance documentation in the KB. Omnipair (4): OMFG-001 through OMFG-004 Ranger (3): ICO launch + $2M buyback + contested liquidation Solomon (3): ICO launch ($102.9M committed) + DP-00001 + DP-00002 Loyal (3): ICO launch ($75.9M committed) + buyback + liquidity adjustment ZKLSOL (4): ICO launch + team burn + buyback + restructuring Umbra (3): ICO launch + security audits + mainnet expansion Futardio cult (3): ICO launch + omnibus (90% token burn) + liquidity pool Kyros (1): Burn 4.42M unclaimed airdrop Jito DAO (1): JTO Vault / TipRouter NCN (JIP-10) Marinade (1): SAM Bid Routing to MNDE Stakers (MIP.5) Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
93 lines
4.2 KiB
Markdown
93 lines
4.2 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "Loyal: Buyback LOYAL Up To NAV"
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domain: internet-finance
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status: passed
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parent_entity: "[[loyal]]"
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platform: "futardio"
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proposer: "Loyal Team And Community Members"
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proposal_url: "https://www.metadao.fi/projects/loyal/proposal/2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS"
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proposal_date: 2025-11-26
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resolution_date: 2025-11-29
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category: "treasury"
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summary: "Allocate $1.5M USDC for LOYAL buyback at max $0.238/token to protect treasury against liquidation arbitrage"
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tracked_by: rio
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created: 2026-03-24
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---
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# Loyal: Buyback LOYAL Up To NAV
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## Summary
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Loyal team and community members proposed $1.5M USDC buyback of LOYAL tokens at maximum $0.238/token (NAV minus two months operating expenses). Executed via Jupiter recurring orders (8,640 orders, every 5 minutes, 30 days). Motivated by LOYAL trading below NAV, exposing treasury to adversarial liquidation arbitrage. Includes 90-day cooldown on new buyback/redemption proposals. Team expects significant portion of allocated funds to remain unspent.
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## Market Data
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- **Outcome:** Passed
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- **Proposal Account:** 2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS
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- **Duration:** 2025-11-26 to ~2025-11-29
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- **Buyback Budget:** $1.5M USDC
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- **Max Price:** $0.238/token
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- **Estimated Purchase:** 6.3M LOYAL at max price
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## Significance
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Second instance (after Ranger) of MetaDAO-launched projects deploying treasury buybacks to defend NAV. The pattern is becoming standard: launch → token trades below NAV → buyback proposal to prevent adversarial liquidation. The 90-day cooldown clause is also becoming standard governance practice.
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## Relationship to KB
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- [[loyal]] — parent entity, treasury defense
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- [[ownership coin treasuries should be actively managed through buybacks and token sales as continuous capital calibration not treated as static war chests]] — buyback pattern
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## Full Proposal Text
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*Source: metadao.fi, tabled 2025-11-26. Authors: Loyal Team And Community Members.*
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**Type:** Operations Direct Action
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**Author(s):** Loyal Team And Community Members
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If passed, $1.5M USDC of treasury funds will be used to purchase LOYAL tokens with a maximum price set as 0.238 per token.
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### Motivation
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While LOYAL is sitting below NAV, our treasury is an arbitrage opportunity for adversarial capital. We want to protect the treasury against liquidation and ensure we can continue building our vision.
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This allocation of capital would allow us:
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- Protect our holders who want to see us build our vision.
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- Accumulate tokens for OTC deals without increasing the supply.
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We raised more than our initial cap, and allocating this capital does not slow down our development. We expect a significant part of the allocated funds remain unspent. We'll pull them back with an additional proposal.
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### Logistics
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$1.5M of treasury funds will be used to purchase `LYLikzBQtpa9ZgVrJsqYGQpR3cC1WMJrBHaXGrQmeta` (LOYAL) tokens with a maximum price set as 0.238 per token. These orders will be placed every five minutes over a period of 30 days (for a total of 8640 orders).
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The price per token was established by taking the total funds raised minus two months of operating expenses. It does not account for any trading fees accrued from liquidity.
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### Specifications
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- Amount: $1.5M
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- Order Type: Recurring
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- Order Quantity: 8640
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- Order Frequency: 5 minutes
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- Maximum Order Price: 0.238
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- Effective Time Horizon: 30 days
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- Estimated Loyal Purchased: 6.3M assuming full use of buyback facility at maximum order price
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### Process
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This proposal includes instructions to execute a Jupiter recurring order as stated above.
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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 remain in the DCA account until there is another proposal to cancel the order.
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- All LOYAL tokens will be transferred to the DAO's treasury: AQyyTwCKemeeMu8ZPZFxrXMbVwAYTSbBhi1w4PBrhvYE
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### Redemption/Buyback cooldown period
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No new buyback or redemption proposals shall be submitted or executed for 90 days following the end of this buyback program
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### Raw Data
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- Proposal account: `2VjKHNQdkLfHtoH1GtPVseJv1kP3VUoLGcZLc29SttgS`
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- Proposal number: 1
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- DAO account: `GxpJkPEsPmuRCCTNnfZaDKg4X3gf4ZPgmqgFqtibaPtK`
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- Proposer: `tSTp6B6kE9o6ZaTmHm2ZwnJBBtgd3x112tapxFhmBEQ`
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- Autocrat version: 0.6
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