d0cfef7f52
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) Pentagon-Agent: Rio <HEADLESS>
45 lines
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2.8 KiB
Markdown
45 lines
No EOL
2.8 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "MetaDAO: Create Spot Market for META?"
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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: "HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz"
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proposal_url: "https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b"
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proposal_date: 2024-01-12
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resolution_date: 2024-01-18
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category: "treasury"
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summary: "Proposal to create public spot market for $META tokens through token sale at TWAP-based pricing with $75K hard cap and liquidity pool creation"
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key_metrics:
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hard_cap: "$75,000"
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lp_allocation: "~$35,000"
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sale_price_mechanism: "TWAP of passing proposal"
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autocrat_version: "0.1"
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tracked_by: rio
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created: 2026-03-11
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---
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# MetaDAO: Create Spot Market for META?
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## Summary
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Proposal #3 sought to establish the first public spot market for $META tokens, enabling broader token access and liquidity. The sale structure used futarchy's own pricing mechanism: tokens would be sold at the TWAP of the passing proposal itself, creating a self-referential market pricing system. Approximately $35,000 of proceeds would seed a liquidity pool, with remaining funds allocated to operational reserves in $SOL.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
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- **Proposal Account:** 9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b
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- **DAO Account:** 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy
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- **Autocrat Version:** 0.1
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- **Timeline:** Created 2024-01-12, Completed 2024-01-18
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## Significance
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This proposal demonstrates futarchy governing its own capital formation infrastructure. The TWAP-based pricing mechanism creates a recursive market structure where the decision market's output directly determines the token sale price. The proposal also encoded operational constraints: failure would have prevented public fundraising until March 12, 2024, showing how futarchy can handle time-sensitive treasury decisions with explicit contingency planning.
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The $75K hard cap and structured LP allocation reveal that futarchy selects among pre-designed financial architectures rather than generating treasury structures from scratch—market mechanisms choose between options, but traditional financial planning still defines those options.
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## Relationship to KB
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- [[metadao]] - treasury governance 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]] - TWAP pricing mechanism in practice
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- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] - treasury structure design |