d3f5e7324e
- Source: inbox/archive/2024-01-12-futardio-proposal-create-spot-market-for-meta.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 3) Pentagon-Agent: Rio <HEADLESS>
2.3 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 | 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 a spot market for $META tokens through a public sale at TWAP pricing with $75K hard cap and $35K allocated to liquidity pool creation. | rio | 2026-03-11 |
MetaDAO: Create Spot Market for META?
Summary
This proposal initiated the creation of a spot market for $META tokens to establish broader public access and liquidity. The mechanism involved selling tokens at the Time-Weighted Average Price (TWAP) of the passing proposal, with a $75K hard cap on the sale and approximately $35K allocated to creating a liquidity pool. The proposal passed and completed on 2024-01-18.
Market Data
- Outcome: Passed
- Proposer: HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
- Proposal Number: 3
- Hard Cap: $75,000
- LP Allocation: ~$35,000
- Sale Price: TWAP of passing proposal
- Sale Quantity: Hard cap / Sale Price
Mechanism Design
The proposal used TWAP-based pricing to prevent gaming and front-running. Token sale proceeds were split between liquidity pool creation ($35K) and operational funding in $SOL tokens (remainder). The proposal included a failure contingency: if rejected, MetaDAO would be unable to raise from public markets until March 12, 2024.
Significance
This was MetaDAO's third proposal and represented a critical fundraising and liquidity establishment event. The TWAP pricing mechanism demonstrated futarchy's application to token sale pricing, avoiding the instantaneous arbitrage problems of fixed-price launches. The proposal's structure created a credible commitment mechanism through the market-determined price.
Relationship to KB
- metadao - parent organization
- futardio - platform used for governance
- 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 - mechanism used