Theseus
735bb095f9
Co-authored-by: Theseus <theseus@agents.livingip.xyz> Co-committed-by: Theseus <theseus@agents.livingip.xyz>
120 lines
No EOL
5.3 KiB
Markdown
120 lines
No EOL
5.3 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "coal: Let's get Futarded"
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domain: internet-finance
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status: passed
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parent_entity: "[[coal]]"
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platform: "futardio"
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proposer: "HAymbnVo1w5sC7hz8E6sdmzSuDpqUwKXWzBeshEAb7WC"
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proposal_url: "https://v1.metadao.fi/coal/trade/6c1dnggYNpEZvz4fedJ19LAo8Pz2mTTvT6LxySYhpLbA"
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proposal_date: 2025-10-15
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resolution_date: 2025-10-18
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category: "treasury"
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summary: "Expand coal supply to 25M, airdrop 420 COAL to 2,314 META holders, establish 3M COAL dev fund, migrate to v0.6 governance"
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tracked_by: rio
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created: 2026-03-11
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key_metrics:
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proposal_number: 3
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autocrat_version: "0.3"
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proposal_length: "3 days"
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new_governance_params:
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twap_delay: "1 day"
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min_liquidity: "1500 USDC, 2000 COAL"
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pass_threshold: "100 bps"
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coal_staked: "10,000"
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proposal_length: "3 days"
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---
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# coal: Let's get Futarded
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## Summary
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This proposal executed a comprehensive governance and tokenomics upgrade for coal, the only proof-of-work memecoin on Solana. It expanded total supply from 21M to 25M COAL through a one-time mint, distributed 420 COAL to each of 2,314 eligible META holders (snapshot October 12, 2025), established a 3.03M COAL development fund with monthly disbursement guardrails, and migrated the DAO to v0.6 governance infrastructure with futarchy AMM capabilities.
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## Market Data
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- **Outcome:** Passed
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- **Proposer:** HAymbnVo1w5sC7hz8E6sdmzSuDpqUwKXWzBeshEAb7WC
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- **Proposal Account:** 6c1dnggYNpEZvz4fedJ19LAo8Pz2mTTvT6LxySYhpLbA
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- **DAO Account:** 3LGGRzLrgwhEbEsNYBSTZc5MLve1bw3nDaHzzfJMQ1PG
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- **Duration:** October 15-18, 2025 (3 days)
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## Proposal Structure
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### Airdrop Component
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- **Eligibility:** All META holders at October 12, 2025 snapshot holding ≥$100 notional value
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- **Amount:** 420 COAL per eligible wallet
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- **Total Recipients:** 2,314 wallets
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- **Total Airdrop:** 971,880 COAL
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### Supply Expansion
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- **Previous Supply:** 21,000,000 COAL
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- **New Supply:** 25,000,000 COAL
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- **One-time Increase:** 4,000,000 COAL
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- **Allocation:** 971,880 to airdrop, 3,028,120 to dev fund
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- **Mining Emissions:** Unchanged
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### Development Fund
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- **Size:** 3,028,120 COAL
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- **Manager:** DAO treasury
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- **Monthly Disbursement Cap:** 30,000 COAL to Grant (lead dev)
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- **Large Grant Threshold:** Any single use >69,000 COAL requires separate decision market
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- **Transparency:** Public ledger, monthly forum reports, verified addresses
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- **Purpose:** Protocol development, futarchy experiments, community contributions, tooling, integrations, marketing, liquidity seeding
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### Governance Migration
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- **Target:** v0.6 DAO infrastructure
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- **New Features:** DAO treasury, futarchy AMM, full governance tooling
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- **TWAP Delay:** 1 day
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- **Minimum Liquidity:** 1,500 USDC + 2,000 COAL
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- **Pass Threshold:** 100 basis points
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- **Staking Requirement:** 10,000 COAL
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- **Proposal Duration:** 3 days
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### Liquidity Strategy
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- **OTC Buyer:** Lined up to purchase portion of dev fund
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- **Proceeds Use:** Seed futarchy AMM and bootstrap COAL liquidity
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## Significance
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This proposal represents a comprehensive transition from experimental memecoin to structured futarchy-governed protocol. The META holder airdrop creates cross-pollination between MetaDAO's futarchy ecosystem and coal's proof-of-work model. The development fund with explicit guardrails (monthly caps, large-grant thresholds requiring separate markets) demonstrates maturing governance design that balances operational flexibility with market oversight. The migration to v0.6 infrastructure with futarchy AMM capabilities positions coal as a testing ground for futarchy mechanisms in the memecoin context.
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## Relationship to KB
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- [[coal]] — parent entity
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- [[futardio]] — governance platform
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- MetaDAO — source of airdrop recipients
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- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — exemplifies governance model
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- [[futarchy-daos-require-mintable-governance-tokens-because-fixed-supply-treasuries-exhaust-without-issuance-authority-forcing-disruptive-token-architecture-migrations]] — demonstrates supply expansion mechanism
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## Full Proposal Text
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*Source: futard.io, tabled 2025-10-15*
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This proposal does 3 things:
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1/ Onboard META holders: One-time airdrop of 420 $coal to every $META holder (snapshot October 12, 2025).
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2/ Expand Supply for Growth: One-time mint to enable the airdrop, seed a dev fund, and provide initial liquidity.
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3/ Establish a Development Fund: Transparent treasury for ongoing development, community initiatives, and integrations.
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**Airdrop:**
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- Eligibility: All $META holders at snapshot (2,314 wallets) holding at least $100 worth of $META
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- Amount: 420 $coal per eligible wallet
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- Total: 971,880 $coal
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**Supply Update:**
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- Total supply: 21,000,000 → 25,000,000 $coal (one-time increase of 4,000,000)
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- 971,880 → Airdrop; 3,028,120 → Development Fund
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- Mining emissions: Unchanged
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**Development Fund:**
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- Manager: DAO treasury
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- Disbursements: up to 30,000 $coal per month to Grant (lead dev)
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- Large grants: Any single use >69,000 $coal requires separate decision market
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- Transparency: Public ledger, monthly forum report, verified addresses
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**Liquidity Kickstart:**
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An OTC buyer is lined up to purchase a portion of the Dev Fund; proceeds will seed the futarchy AMM and bootstrap $coal liquidity.
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**Moving into v0.6 DAO governance:**
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- TWAP delay: 1 day
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- Minimum liquidity: 1500 USDC, 2000 coal
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- Pass threshold: 100 bps
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- Coal staked: 10,000
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- Proposal length: 3 days |