0da42ebbf1
Separates governance decisions from entities. decision_market type replaced
by type: decision in new decisions/ directory. Entities (companies, people,
protocols) remain in entities/{domain}/.
Architecture: Leo (schema), Rio (taxonomy), Ganymede (migration), Rhea (ops)
Implemented by: Epimetheus
Pentagon-Agent: Epimetheus <968B2991-E2DF-4006-B962-F5B0A0CC8ACA>
64 lines
2.7 KiB
Markdown
64 lines
2.7 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "MetaDAO: Increase META Liquidity via a Dutch Auction"
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domain: internet-finance
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status: passed
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parent_entity: "[[metadao]]"
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platform: "futardio"
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proposer: "prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ"
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proposal_url: "https://www.futard.io/proposal/Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT"
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proposal_account: "Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT"
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proposal_number: 10
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proposal_date: 2024-02-26
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resolution_date: 2024-03-02
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category: "treasury"
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summary: "Sell 1,000 META via manual Dutch auction on OpenBook to acquire USDC for liquidity pairing on Meteora"
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key_metrics:
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meta_sold: "1,000"
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meta_for_liquidity: "2,000"
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total_meta_requested: "3,005.45"
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compensation_meta: "5.45"
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multisig_size: "3/5"
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tracked_by: rio
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created: 2026-03-11
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---
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# MetaDAO: Increase META Liquidity via a Dutch Auction
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## Summary
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Proposal to address META's low liquidity and high volatility by selling 1,000 META through a manual Dutch auction executed on OpenBook, then pairing the acquired USDC with META to provide liquidity on Meteora's fee pools. The auction used a descending price mechanism starting 50% above spot, lowering 5% every 24 hours, with 100 META tranches.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** prdUTSLQs6EcwreBtZnG92RWaLxdCTivZvRXSVRdpmJ
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- **Proposal Account:** Dn638yPirR3e2UNNECpLNJApDhxsjhJTAv9uEd9LBVVT
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- **Proposal Number:** 10
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- **Autocrat Version:** 0.1
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- **Created:** 2024-02-26
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- **Completed:** 2024-03-02
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## Mechanism Design
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- Manual Dutch auction via OpenBook
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- 100 META tranches, starting 50% above spot price
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- Price reduction: 5% every 24 hours if >6% above spot
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- New asks placed 10% above spot when filled
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- 3/5 multisig execution (LMRVapqnn1LEwKaD8PzYEs4i37whTgeVS41qKqyn1wi)
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- Final liquidity moved to Meteora 1% fee pool
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## Compensation Structure
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Sealed-bid auction for multisig positions:
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- Ben H: 0 META
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- Nico: 0 META
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- joebuild: 0.2 META
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- Dodecahedr0x: 0.25 META
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- Proposal creator (Durden): 5 META
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- **Total:** 5.45 META
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## Significance
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Demonstrates futarchy-governed treasury management with minimal governance overhead. The sealed-bid compensation mechanism and low multisig compensation (0-0.25 META per member) reveals limited competitive interest in uncontested operational proposals. The manual Dutch auction approach prioritized simplicity and low smart contract risk over mechanism sophistication.
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## Relationship to KB
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- [[metadao]] - treasury management decision
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- [[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]] - operational implementation example
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- [[meteora]] - liquidity destination platform
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