MetaDAO price

META

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MetaDAO is inspired by the writings of Robin Hanson, Shall We Vote on Values, But Bet on Beliefs originally published in 2001. Where he describes a system of governance using decision markets called Futarchy. This inspired Proph3t the pseudo anonymous founder of MetaDAO. Proph3t had previously worked in Ethereum DeFi as a smart contract engineer, but took up the moniker when starting new on Solana.

He met his co-founder Nallok at a dinner during Solana Breakpoint in October of 2023. Where Nallok had been a market maker for centralized exchanges, ran liquidation bots on chain and operated a Validator-as-a-Service business for Solana validators.

The first platform for trading decision markets was launched in December of 2023. In May of 2024 MetaDAO launched its flagship product Futarchy as a Service allowing other DAOs to establish and trade their own decision markets for governance decisions.

This project became what is now MetaDAO, and employs three staff.

META is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.

Jupiter offers the best routing for swapping on-chain. MarginFi offers a platform for lending and borrowing META.

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Markets are better aggregators of information than experts, we should use them to make decisions.

Market speculates on how an action would affect a metric, using price information to make the decision.

The Meta DAO (META) stands as the world's first market-governed organization, revolutionizing decentralized autonomous organizations (DAOs) with market-driven governance and decision-making. Unlike traditional voting systems plagued by low participation and insider influence, The Meta DAO leverages decision markets to aggregate information and make informed decisions. This innovative approach, inspired by Robin Hanson's concept of Futarchy, allows markets to speculate on how actions affect metrics, using price information to guide decisions.

Founded by the pseudonymous Proph3t, a former Ethereum DeFi smart contract engineer, and Nallok, a market maker and Solana validator operator, The Meta DAO launched its first decision market platform in December 2023. By May 2024, it introduced Futarchy as a Service, enabling other DAOs to establish and trade their own decision markets for governance purposes.

Operating on the Solana blockchain, The Meta DAO uses its native token, META, for governance. Initially distributed via airdrop in November 2023, the token supply was significantly reduced after a proposal led to the burning of 979,000 META tokens, leaving only 21,000 in circulation. META can be traded on various exchanges, with liquidity pairs available on platforms like Raydium and routing options on Jupiter. MarginFi also offers lending and borrowing services for META.

The Meta DAO (META) represents a cutting-edge approach to decentralized governance, leveraging the Solana blockchain to create a robust and efficient system. At its core, The Meta DAO employs a market-driven governance model known as futarchy, which relies on the wisdom of the market to make decisions. This innovative model entrusts decision-making power to market participants, who speculate on the outcomes of various actions, using price information to guide the decision-making process.

The Solana blockchain, known for its high throughput and low transaction costs, provides the foundational technology for The Meta DAO. Solana's architecture is designed to handle thousands of transactions per second, making it an ideal platform for the rapid and efficient execution of governance decisions. The blockchain's consensus mechanism, Proof of History (PoH), combined with Proof of Stake (PoS), ensures that transactions are processed quickly and securely. This dual-consensus approach helps prevent attacks from bad actors by making it computationally expensive and logistically challenging to alter the blockchain's history.

In addition to its unique governance model, The Meta DAO incorporates oracles and on-chain data to automate resolution processes. Oracles are external data providers that feed real-world information into the blockchain, enabling smart contracts to execute based on real-time data. This integration ensures that decisions are based on accurate and up-to-date information, enhancing the reliability and effectiveness of the governance system.

The Meta DAO also supports grants programs, which are funded and managed through its decentralized governance structure. These programs enable the community to propose and vote on funding initiatives that align with the DAO's goals and values. By leveraging the collective intelligence of its members, The Meta DAO can allocate resources efficiently and transparently.

The concept of decision markets, as implemented by The Meta DAO, represents a significant shift in governance paradigms. Decision markets aggregate information from a wide range of participants, rather than relying solely on experts. This approach can lead to more informed and unbiased decisions, as market participants have financial incentives to provide accurate information and predictions.

The origins of The Meta DAO can be traced back to the writings of Robin Hanson, who proposed the idea of futarchy in his 2001 paper "Shall We Vote on Values, But Bet on Beliefs." Inspired by this concept, the pseudonymous founder Proph3t, a former Ethereum DeFi smart contract engineer, collaborated with co-founder Nallok, a market maker and Solana validator operator, to bring this vision to life. Their combined expertise in decentralized finance and blockchain technology laid the groundwork for the development of The Meta DAO.

In December 2023, The Meta DAO launched its first platform for trading decision markets, followed by the introduction of Futarchy as a Service in May 2024. This service allows other DAOs to establish and trade their own decision markets, further expanding the reach and impact of this innovative governance model.

The Meta DAO's token, META, plays a crucial role in the ecosystem. Initially distributed via airdrop in November 2023, the total supply of META was significantly reduced through a token burn in March 2023, leaving a limited number of tokens in circulation. This scarcity can potentially enhance the value and utility of the token within the DAO's governance framework.

The Meta DAO's technology stack, combining the high-performance capabilities of the Solana blockchain with the innovative governance model of futarchy, positions it as a pioneering force in the realm of decentralized autonomous organizations. By leveraging market mechanisms, oracles, and on-chain data, The Meta DAO aims to create a more efficient, transparent, and inclusive governance system for the digital age.

The Meta DAO (META) stands out as a decentralized autonomous organization that leverages blockchain technology to enable decentralized governance and decision-making. Unlike traditional organizations, The Meta DAO operates through token-based voting mechanisms, allowing participants to have a direct say in the governance and management of virtual worlds and other projects.

One of the primary real-world applications of The Meta DAO is the creation of proposals for various projects. These can include business projects, operational initiatives, and direct actions. The platform allows users to submit and vote on proposals, ensuring that decisions are made collectively and transparently. This decentralized approach can be particularly useful for organizations looking to implement a more democratic and inclusive decision-making process.

Another significant application is the use of value-resolved decision markets. These markets enable participants to speculate on how specific actions will impact certain metrics, using price information to guide decisions. This method, inspired by the concept of Futarchy, aims to aggregate information more effectively than traditional expert-based approaches. By leveraging market dynamics, The Meta DAO can make more informed and unbiased governance decisions.

The Meta DAO also facilitates grants through its decision markets. By creating a market-driven governance system, it ensures that funding is allocated to projects that are most likely to succeed and provide value to the community. This can be particularly beneficial for startups and innovative projects that require initial funding to get off the ground.

Additionally, The Meta DAO maintains a GitHub repository, which serves as a resource for developers and participants interested in contributing to the platform's development. This open-source approach encourages collaboration and continuous improvement of the platform, fostering a community-driven ecosystem.

The Meta DAO's applications extend to managing and governing virtual worlds, providing a decentralized framework for decision-making in digital environments. This can include anything from virtual real estate management to the governance of online communities, offering a new way to handle digital assets and interactions.

Concerns have been raised about the potential misuse of The Meta DAO by extremist and anti-democratic actors. However, the platform's emphasis on transparency and collective decision-making aims to mitigate these risks by ensuring that all actions are subject to community scrutiny and approval.

The Meta DAO, symbolized by META, represents a pioneering effort in decentralized governance through decision markets. The concept, inspired by Robin Hanson's writings on Futarchy, aims to leverage market mechanisms for making governance decisions. This innovative approach to decentralized decision-making has marked several significant milestones since its inception.

MetaDAO was officially created in 2023, with its initial token distribution occurring in November of the same year. During this initial phase, 10,000 META tokens were airdropped to aligned parties, while the remaining 990,000 tokens were held in the DAO treasury. This strategic distribution aimed to foster a strong community foundation and ensure sufficient reserves for future initiatives.

In March 2023, a pivotal event occurred when the DAO executed a proposal to burn all remaining treasury META tokens. This decision led to the burning of 979,000 META tokens, significantly reducing the total supply and potentially increasing the value of the remaining tokens. This move was seen as a commitment to the long-term sustainability and value proposition of the MetaDAO ecosystem.

The origins of MetaDAO trace back to its founder, Proph3t, a pseudonymous figure with a background in Ethereum DeFi as a smart contract engineer. Proph3t's vision for MetaDAO was further shaped by his encounter with co-founder Nallok at Solana Breakpoint in October 2023. Nallok brought extensive experience as a market maker for centralized exchanges and operator of a Validator-as-a-Service business for Solana validators. This partnership laid the groundwork for the development of MetaDAO's unique governance model.

December 2023 marked the launch of the first platform for trading decision markets. This platform allowed users to speculate on the outcomes of various actions, using price information to guide decision-making processes. This innovative approach aimed to create a more open and unbiased governance system, leveraging the collective intelligence of market participants.

In May 2024, MetaDAO introduced its flagship product, Futarchy as a Service. This offering enabled other DAOs to establish and trade their own decision markets for governance decisions. By providing this service, MetaDAO expanded its influence and utility within the broader decentralized governance ecosystem, allowing other organizations to benefit from its decision market framework.

MetaDAO has also maintained a strong online presence, with active communities on platforms like Discord and GitHub. These channels have facilitated collaboration, development, and engagement among community members, further strengthening the DAO's ecosystem.

The Meta DAO continues to focus on developing solutions for the gaming industry through its DAO structure. This focus aims to leverage the unique capabilities of decision markets to address the specific needs and challenges within the gaming sector.