$5.07

MetaDAO is developing what it describes as a decision market platform, a concept aimed at providing an open and unbiased method for governance. The underlying idea is that market prices can serve as effective information aggregators, potentially offering more reliable guidance than individual experts. In practice, these markets would speculate on the impact of a proposed action on a specific metric, using the resulting price signals to inform the decision.

The project was established in 2023, with an initial airdrop of 10,000 tokens to aligned parties in November of that year, while the remaining 990,000 tokens were held in the DAO treasury. A proposal passed in March 2023 led to the burning of nearly all treasury tokens, totaling approximately 979,000 META. The platform’s inspiration comes from Robin Hanson’s 2001 essay on futarchy, which proposed a governance system based on decision markets. This concept influenced the project’s pseudonymous founder, Proph3t, who previously worked as a smart contract engineer in Ethereum DeFi before moving to Solana. The co-founder, Nallok, brought experience from centralized exchange market making, on-chain liquidation bots, and running a Solana validator service.