Execute Introduction of Spot Market for META Tokens

UuGE...co8e

Proposal 3 passed, giving the DAO the remit to raise money and use some of that money to create an LP pool. Since then, Proph3t and Rar3 have ironed out the details and come up with this plan:

  1. People submit their demand into a Google form
  2. Proph3t decides how much allocation to give each person
  3. Proph3t reaches out on Monday, Feb 5th to people with allocations, telling them they have to transfer the USDC by Wednesday, Feb 7th
  4. Some people won't complete this step, so Proph3t will reach out to people who didn't get their full desired allocation on Thursday, Feb 8th to send more USDC until we reach the full 75,000
  5. On Friday, Feb 9th the multisig will send out META to all participants, create the liquidity pool (likely on Meteora), and disband

We've created the multisig; it's a 4/6 containing Proph3t, Dean, Nallok, Durden, Rar3, and BlockchainFixesThis. This proposal will transfer 4,130 META to that multisig. This META will be allocated as follows:

  • 3100 META to send to participants of the sale
  • 1000 META to pair with 35,000 USDC to create the pool (this sets an initial spot price of 35 USDC / META)
  • 30 META to renumerate each multisig member with 5 META

Obviously, there is no algorithmic guarantee that the multisig members will actually perform this, but it's unlikely that 4 or more of the multisig members would be willing to tarnish their reputation in order to do something different.

View Market
Status
Passed
Market

$0.0

$0.0

Pass MCap
$0
Fail MCap
$0
Volume
$4,746.13
Pass Threshold
0%
Liquidity Pool Fee
1%

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