52 lines
3.1 KiB
Markdown
52 lines
3.1 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "MetaDAO: Migrate META Token"
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domain: internet-finance
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status: passed
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tracked_by: rio
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created: 2026-03-11
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last_updated: 2026-03-11
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parent_entity: "[[metadao]]"
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platform: "futardio"
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proposer: "Proph3t & Kollan"
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proposal_url: "https://www.futard.io/proposal/4grb3pea8ZSqE3ghx76Fn43Q97mAh64XjgwL9AXaB3Pe"
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proposal_date: 2025-08-07
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resolution_date: 2025-08-10
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category: mechanism
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summary: "1:1000 token split, mintable supply, new DAO v0.5 (Squads), LP fee reduction from 4% to 0.5%"
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tags: ["futarchy", "token-migration", "elastic-supply", "squads", "meta-token"]
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---
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# MetaDAO: Migrate META Token
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## Summary
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Migration from METAC (unmintable, ~20K supply) to new META token (mintable, ~20.86M supply via 1:1000 split). Mint and update authority transferred to new DAO governed via Squads vault (v0.5). Protocol-owned liquidity fee reduced from 4% to 0.5%. New DAO passing threshold reduced to 1.5%, monthly spending limit set at $120K. Migration contract deployed as permanent one-way conversion. New META token: METAwkXcqyXKy1AtsSgJ8JiUHwGCafnZL38n3vYmeta. New DAO: Bc3pKPnSbSX8W2hTXbsFsybh1GeRtu3Qqpfu9ZLxg6Km.
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## Market Data
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- **Outcome:** Passed (2025-08-10)
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- **Autocrat version:** 0.3
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- **Key participants:** Proph3t (co-author), Kollan (co-author)
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## Significance
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This is the resolution of the mintable-token saga that began with the 99.3% burn ([[metadao-burn-993-percent-meta]]), continued through the failed community proposal ([[metadao-token-split-elastic-supply]]), and culminated here. The DAO's treasury was exhausted (as the burn had predicted), forcing the migration to mintable tokens.
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Key architectural decisions: (1) mint authority to DAO governance, not any multisig — "market-driven issuance" as extension of market-driven decision-making; (2) Squads integration for operational security; (3) LP fee reduction from 4% to 0.5% anticipating the custom Futarchic AMM; (4) permanent migration contract with unlimited conversion window, avoiding forced timelines.
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The proposal explicitly frames mintable supply as philosophically consistent with futarchy: "Futarchy is market-driven decision making. To stay true to that principle, it also requires market-driven issuance." This is the strongest empirical evidence for the claim that futarchy DAOs require mintable governance tokens — the fixed-supply model broke in practice.
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## Relationship to KB
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- [[metadao]] — token architecture migration
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- [[metadao-burn-993-percent-meta]] — the burn that created the need for this migration
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- [[metadao-token-split-elastic-supply]] — the earlier failed community version
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- [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]] — primary evidence for this claim
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- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — 1:1000 split addresses unit bias
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---
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Relevant Entities:
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- [[metadao]] — parent organization
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- [[proph3t]] — co-author
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Topics:
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- [[internet finance and decision markets]]
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