cc40d036f3
- Source: inbox/archive/2024-11-25-futardio-proposal-prioritize-listing-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) 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 | Drift: Prioritize Listing META? | internet-finance | passed | drift | futardio | Nallok, Divide | https://www.futard.io/proposal/FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJpp | 2024-11-25 | 2024-11-28 | strategy | Drift's first futarchy-governed token listing decision, prioritizing META for spot and perp trading | rio | 2026-03-11 |
Drift: Prioritize Listing META?
Summary
Drift Protocol used futarchy to decide whether to prioritize listing MetaDAO's META token for spot and perpetual trading. The proposal passed, marking Drift's experimental adoption of futarchy for exchange listing governance rather than traditional team decisions. The proposal explicitly acknowledged META's low liquidity and manipulation risks but argued the upside of increased governance participation and trading volume flywheel effects justified the listing.
Market Data
- Outcome: Passed
- Proposer: Nallok, Divide
- Proposal Account: FXkyJpCVADXS6YZcz1Kppax8Kgih23t6yvze7ehELJpp
- DAO Account: 8ABcEC2SEaqi1WkyWGtd2QbuWmkFryYnV1ispBUSgY2V
- Autocrat Version: 0.3
- Created: 2024-11-25
- Completed: 2024-11-28
Significance
This represents futarchy expanding from capital formation governance (MetaDAO's core use case) into operational exchange decisions. Drift explicitly stated it is "evaluating the use of futarchy for token listing" to create "a repeatable, lightweight process" that empowers community participation and optimizes resource allocation. The proposal's passage despite acknowledged risks (low liquidity, manipulation susceptibility) demonstrates futarchy markets can process contested decisions with explicit downside scenarios, not just uncontested proposals.
The proposal argued for a trading volume flywheel: perpetual markets on Drift would increase META liquidity, which would improve MetaDAO's decision market depth, creating "more volume, more trades, new users, and better user retention" across both platforms.
Relationship to KB
- drift - first futarchy-governed listing decision
- metadao - META token being listed
- futardio - platform hosting the decision market
- 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 - futarchy expanding beyond fundraising