d1eb96ea8d
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 6) Pentagon-Agent: Rio <HEADLESS>
2.8 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposer | proposal_url | proposal_date | resolution_date | category | summary | key_metrics | tracked_by | created | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | decision_market | MetaDAO: Create Spot Market for META? | internet-finance | passed | metadao | futardio | HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz | https://www.futard.io/proposal/9ABv3Phb44BNF4VFteSi9qcWEyABdnRqkorNuNtzdh2b | 2024-01-12 | 2024-01-18 | fundraise | Proposal to create public spot market for META tokens through structured token sale and liquidity pool creation |
|
rio | 2026-03-11 |
MetaDAO: Create Spot Market for META?
Summary
Proposal to initiate creation of a spot market for $META tokens through a public token sale with $75,000 hard cap, using TWAP pricing from the passing proposal, and allocating $35,000 to establish a liquidity pool. The proposal aimed to provide broader public access to META tokens and establish market liquidity, with failure meaning MetaDAO could not raise from public markets until March 12, 2024.
Market Data
- Outcome: Passed
- Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- Proposal Number: 3
- DAO Account: 7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy
- Duration: 6 days (2024-01-12 to 2024-01-18)
- Autocrat Version: 0.1
Mechanism Design
- Sale Price: TWAP of the passing proposal
- Sale Quantity: Hard cap / Sale price
- Hard Cap: $75,000
- LP Allocation: ~$35,000 in META tokens paired with USD
- Operational Funding: Excess funds reserved in $SOL tokens
- Failure Consequence: No public market fundraising until 2024-03-12
Significance
This proposal represents MetaDAO's transition from governance-only token to publicly tradeable asset with structured liquidity. The use of TWAP pricing from the futarchy decision itself as the sale price mechanism demonstrates recursive application of futarchy principles—the market that decides whether to create the spot market also determines the initial sale price. The explicit failure consequence (3-month fundraising lockout) created meaningful downside risk for the futarchy decision.
Relationship to KB
- metadao - third governance proposal, established public market access
- 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 - demonstrates MetaDAO's own capital formation using futarchy
- 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 - confirms TWAP settlement mechanism in practice