m3taversal
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Wrote sourced_from: into 414 claim files pointing back to their origin source. Backfilled claims_extracted: into 252 source files that were processed but missing this field. Matching uses author+title overlap against claim source: field, validated against 296 known-good pairs from existing claims_extracted. Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
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| source | Futardio: Burn 99.3% of META in Treasury? | futard.io | https://www.futard.io/proposal/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU | 2024-03-03 | internet-finance | data | processed |
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Proposal Details
- Project: MetaDAO
- Proposal: Burn 99.3% of META in Treasury?
- Status: Passed
- Created: 2024-03-03
- URL: https://www.futard.io/proposal/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU
- Description: Burn 99.3% of META in Treasury?
Summary
🎯 Key Points
The proposal aims to burn approximately 99.3% of treasury-held META tokens to reduce the Fully Diluted Valuation (FDV), enhance the attractiveness of META for investors, and promote community engagement.
📊 Impact Analysis
👥 Stakeholder Impact
This action seeks to encourage broader participation from potential investors and community members by lowering the FDV.
📈 Upside Potential
The reduction in token supply could increase demand and perceived value of META, leading to improved investor interest and engagement.
📉 Risk Factors
Burning a significant portion of tokens may limit future financial flexibility and could deter investors concerned about long-term supply dynamics.
Content
Authors
doctor.sol & rar3
Overview
Burn ~99.3% 979,000 of treasury-held META tokens to significantly reduce the FDV, with the goal of making META more appealing to investors and enhancing community engagement.
Background
The META DAO is currently perceived to have a high Fully Diluted Valuation (FDV) due to the substantial amount of META tokens in the treasury, approximately 985,000 tokens. This high FDV often discourages potential investors and participants from engaging with META, as they may perceive the investment as less attractive right from the start.
Issue at Hand
The primary concern is that the high FDV and treasury leads to the following problems:
- It encourages the use of META for expenses.
- It lowers the attractiveness of META as an investment opportunity at face value.
- It reduces the number of individuals willing to participate in this futuarchy experiment.
While a high FDV can deter less informed community members, which has its benefits, it also potentially wards off highly valuable community members who could contribute positively.
Examples
Proposed Solution
We propose burning approximately ~99.3% of the META tokens -99,000 tokens - currently held in the DAO's treasury. This action is aimed at achieving the following outcomes:
- Elimination of Treasury META Payments: Reduces the propensity to utilize $META from the treasury for proposal payments, promoting a healthier economic framework.
- Market-Based Token Acquisition: Future requirements for $META tokens will necessitate market purchases, fostering demand and enhancing token value.
- Prioritization of $USDC and Revenue: Shifting towards $USDC payments and focusing on revenue generation marks a move towards financial sustainability and robustness.
- Confidence Boost in META: By significantly reducing the supply of META tokens, we signal a strong commitment to the token's value, potentially leading to increased interest and participation in prop 10 execution.
- Attracting a Broader Community: Lowering the FDV makes META more attractive at face value, inviting a wider range of participants, including those who conduct thorough research and those attracted by the token's perceived tokenomics.
Rundown of Numbers:
- Current Treasury:
982,464 META tokens - After Burning:
3,464 META tokens - Post-Proposition 10: An expected
1,000 META tokensshould be added back from multisig after prop 10, ranging anywhere from0 to 3,000 META. - Final Treasury: After burning, the treasury would have around
4,500 META, valued at$4 million, plus$2 million in META-USDC LPat todays price$880 / META. - Total META supply:
20,885
Note
Adopting this proposal does not permanently cap our token supply. The community is currently discussing the possibility of transitioning to a mintable token model, which would provide the flexibility to issue more tokens if the need arises.
Raw Data
- Proposal account:
ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU - Proposal number: 11
- DAO account:
7J5yieabpMoiN3LrdfJnRjQiXHgi7f47UuMnyMyR78yy - Proposer:
Pr11UFzumi5GXoZVtnFHDpB6NiWM3XH57L6AnKzXyzD - Autocrat version: 0.1
- Completed: 2024-03-08
- Ended: 2024-03-08