m3taversal
c3dfbf12a3
- What: Rewrote 10 existing decision records with full verbatim proposal text, Summary & Connections sections, correct v1.metadao.fi URLs, and on-chain metadata - Records rewritten: 1. Ben Hawkins $50K OTC (Proposal 6, failed) — canonical manipulation resistance evidence 2. Pantera Capital $50K OTC (Proposal 7, failed) — first institutional rejection 3. Colosseum $250K OTC (Proposal 13, passed) — first successful OTC, hackathon pipeline 4. Theia $500K OTC (Proposal 10, passed) — 14% premium, active governance commitment 5. Proph3t/Nallok Compensation (Proposal 2, passed) — convex payout with utility theory 6. Burn 99.3% META (Proposal 11, passed) — radical treasury restructuring, FDV fix 7. Develop AMM (Proposal 4, passed) — origin of Futarchy AMM core infrastructure 8. Develop FaaS (Proposal, passed) — platform expansion to multi-DAO, $96K budget 9. Benevolent Dictators (Proposal 14, passed) — emergency executive authority via futarchy 10. Fundraise #2 (Proposal 3, passed) — $1.5M raise, no discount, no lockup - Pattern: Full OTC sequence shows market rejects discount deals, accepts premium deals — consistent mechanism for distinguishing extractive vs aligned capital Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
3.2 KiB
3.2 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposer | proposal_url | proposal_date | resolution_date | category | summary | key_metrics | tags | tracked_by | created | last_updated | |||||||||||||||||
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| decision | decision_market | MetaDAO: Engage in $50,000 OTC Trade with Ben Hawkins | internet-finance | failed | metadao | metadao | Ben Hawkins | https://v1.metadao.fi/metadao/trade/US8j6iLf9GkokZbk89Bo1qnGBees5etv5sEfsfvCoZK | 2024-02-13 | 2024-02-18 | treasury | Proposal 6 — First Ben Hawkins OTC attempt. Mint 1,500 META for $50K USDC ($33.33/META). Failed. The original empirical proof that futarchy prevents value extraction. |
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rio | 2026-03-11 | 2026-03-24 |
MetaDAO: Engage in $50,000 OTC Trade with Ben Hawkins
Summary & Connections
Proposal 6 — the canonical case for futarchy manipulation resistance. Ben Hawkins proposed minting 1,500 META to his wallet in exchange for $50K USDC to treasury ($33.33/META). The market rejected it. Hawkins later said "the potential gains from the proposal's passage were outweighed by the sheer cost of acquiring the necessary META" — the mechanism made the extractive deal unprofitable to force through.
Outcome: Failed (2024-02-18).
Connections:
- This is the primary empirical evidence cited in decision markets make majority theft unprofitable through conditional token arbitrage — the first production proof that the conditional token arbitrage mechanism works
- metadao-otc-trade-ben-hawkins-2 — Hawkins came back with a second attempt ($100K, Proposal 8, also failed). Two consecutive failures from the same actor is strong evidence
- futarchy is manipulation-resistant because attack attempts create profitable opportunities for defenders — Hawkins's experience confirms the theoretical claim
- The $33.33/META valuation was well below the contemporaneous ~$695 spot price seen in Proposal 8 a few days later, making this an obviously extractive deal — yet the mechanism still needed to reject it through market pricing, not human judgment
Full Proposal Text
Ben Hawkins is requesting to mint 1500 META to GxHamnPVxsBaWdbUSjR4C5izhMv2snriGyYtjCkAVzze
in exchange for Ben will send 50,000 USDC to be sent to ADCCEAbH8eixGj5t73vb4sKecSKo7ndgDSuWGvER4Loy the treasury to MetaDAO
33.33 usdc per Meta
Raw Data
- Proposal account:
US8j6iLf9GkokZbk89Bo1qnGBees5etv5sEfsfvCoZK - Proposal number: 6
- DAO account:
7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy - Proposer:
HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz - Autocrat version: 0.1
- Completed: 2024-02-18
Relationship to KB
- metadao — parent entity
- metadao-otc-trade-ben-hawkins-2 — second attempt ($100K, also failed)
- decision markets make majority theft unprofitable through conditional token arbitrage — this is the primary empirical evidence
- futarchy is manipulation-resistant because attack attempts create profitable opportunities for defenders — Hawkins quote confirms
- ben-hawkins — proposer entity