MetaDAO Manages Token Sale Funds On-Chain

MetaDAO operates a structure that manages token sale funds on-chain without transferring them in bulk to the founding team. Immediately after the sale, the authority to execute funds is restricted, and subsequent expenditures and token issuance are linked to market-based governance. Upon a successful token sale, the entire amount raised in USD Coin (USDC) is moved to 'market governance finance', with 20% of the USDC and a predetermined amount of project tokens being injected into the liquidity pool. The remaining funds stay in finance, and the team can use the funds within a pre-established monthly budget. Any expenditures exceeding the monthly budget or new token issuances require separate proposals. MetaDAO utilizes the Futaki method, allowing market participants to determine the passage of proposals through trading, reflecting the results in the execution. Once a proposal is made public on-chain, market participants trade in the pass/fail market and take positions on the outcome. The trading period is set for three days, and the passage of the proposal is confirmed based on the time-weighted average price (TWAP). The finance of MetaDAO is not merely a custody wallet but a subject of continuous execution and verification, with large operational expenditures or additional dilution requiring public proposals and market trading. Actual operational cases are also recorded, necessitating a distinction between the committed amount and the actual raised amount. The MetaDAO model is designed to connect financial control to the market after the token sale, with the execution results of publicly disclosed proposals, financial balances, and liquidity changes serving as data to assess the effectiveness of this structure.

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