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>
42 lines
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2.3 KiB
Markdown
42 lines
No EOL
2.3 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: "fundraise"
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summary: "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."
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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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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.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** HfFi634cyurmVVDr9frwu4MjGLJzz9XbAJz981HdVaNz
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- **Proposal Number:** 3
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- **Hard Cap:** $75,000
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- **LP Allocation:** ~$35,000
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- **Sale Price:** TWAP of passing proposal
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- **Sale Quantity:** Hard cap / Sale Price
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## Mechanism Design
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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.
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## Significance
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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.
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## Relationship to KB
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- [[metadao]] - parent organization
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- [[futardio]] - platform used for governance
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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]] - mechanism used |