This is an excerpt from “Markets Will Save the World”
We talked about the why; now it’s time to talk about the what. MetaDAO’s initial implementation of futarchy is elegant in its simplicity. Every major decision the DAO faces — like whether to build a new product or burn 99% of the treasury — is subject to a market. The market asks traders to consider one thing and one thing only: “Will this decision make the token price go up or down?” If traders think a decision will increase the price of MetaDAO’s governance token, they bid pass. And if they think it will make the token go down, they bid fail.
One of MetaDAO’s most recent proposals sparked record volume and is a good case study. It was titled “Should we release Futard.io?” and the idea behind it actually came from Anatoly, who suggested that memecoins should use futarchy.
The MetaDAO team heeded Toly’s advice and submitted a proposal to the m
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