Pantera Capital Acquisition of $50,000 USDC worth of META

Drafted with support from: Pantera Capital, 0xNallok, 7Layer, and Proph3t

Overview

• Pantera Capital wishes to acquire {tbd} META (METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr) from The Meta-DAO (ADCCEAbH8eixGj5t73vb4sKecSKo7ndgDSuWGvER4Loy)

• The price per META shall be determined upon passing of the proposal and the lesser of the average TWAP price of the pass / fail market and $100

  $ppM = min((twapPass + twapFail) / 2, 100)$

• A total of $50,000 USDC (EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v) will be committed by Pantera Capital

• The Meta-DAO will transfer 20% of the final allocation of META to the Pantera wallet immediately and place 80% of the final allocation of META into a 12 month, linear vest Streamflow program

Rationale

Pantera views this investment as a strategic partnership and an opportunity to show support for The Meta-DAO, which is spearheading innovation in decentralized governance. Pantera has invested in the blockchain and crypto ecosystem heavily and looks forward to its long term promise. It views its acquisition of META as an opportunity to test futarchy's potential as an improved system for decentralized governance and provide meaningful feedback for accelerating its development and adoption across the crypto ecosystem.

There is a specific interest in Solana as a proving ground for innovative products and services for blockchain technology, and Pantera desires more direct exposure to the Solana ecosystem.

With respect to the investment, Pantera holds the perspective that The Meta-DAO may be an ideal community within Solana for soliciting additional deal flow. It also highlights support for innovation in the space of governance, support for Solana projects, and a belief that fundamentally, futarchy has a reasonable chance of success.

Execution

The proposal contains the instruction for a transfer 1,000 META into a multisignature wallet BtNPTBX1XkFCwazDJ6ZkK3hcUsomm1RPcfmtUrP6wd2K with a 5/7 threshold of which the following parties will be members:

• Pantera Capital (6S5LQhggSTjm6gGWrTBiQkQbz3F7JB5CtJZZLMZp2XNE)
• Pantera Capital (4kjRZzWWRZGBto2iKB6V7dYdWuMRtSFYbiUnE2VfppXw)
• 0xNallok (4LpE9Lxqb4jYYh8jA8oDhsGDKPNBNkcoXobbAJTa3pWw)
• MetaProph3t (65U66fcYuNfqN12vzateJhZ4bgDuxFWN9gMwraeQKByg)
• Dodecahedr0x (UuGEwN9aeh676ufphbavfssWVxH7BJCqacq1RYhco8e)
• Durden (91NjPFfJxQw2FRJvyuQUQsdh9mBGPeGPuNavt7nMLTQj)
• Blockchainfixesthis (HKcXZAkT4ec2VBzGNxazWhpV7BTk3frQpSufpaNoho3D)

The multisig members instructions are as follows:

• Accept receipt of META into the multisig as defined by on chain instruction
• Accept the full USDC amount of $50,000 from Pantera Capital into the multisig
• Determine and publish the price per META according to the definition above
• Confirmation from two parties within The Meta-DAO that the balances exist and are in full
• Take $50,000 / calculated per META and determine final allocation quantity of META
• Transfer 20% of the final allocation of META to Pantera's address FLzqFMQo2KmsenkMP4Y82kYVnKTJJfahTJUWUDSp2ZX5
• Configure a 12 month Streamflow vesting program with a linear vest
• Transfer 80% of the final allocation of META into the Streamflow program
• Return any remaining META to the DAO treasury

ROI to META

The proposal evaluates a net increase in value to META by bringing on a strategic partner such as Pantera which would boost visibility and afford some cash holdings. This proposal speculates a ~25% increase in META value due to the high profile of Pantera and their offering of strategic resources to the project.

Here are the pre-money valuations at different prices:

• $50: $726,000
• $60: $871,800
• $70: $1,017,000
• $80: $1,162,400
• $90: $1,307,700
• $100: $1,453,000