The Meteora DAO

Proposals
1

Introduction

The Meteora DAO is a decentralized community-driven protocol on the Solana ecosystem, designed to align incentives for long-term liquidity and growth.

Rooted in DeFi 2.0 principles, Vedic philosophy, and enhanced by AI, Meteora DAO fosters community empowerment, inclusivity, and sustainable growth.

Layer 0: Total Token Supply and Tokenomics

Definition: The foundational layer encompassing the entire number of $MET tokens that exist or will exist and its tokenomics.

Importance: Determines the overall scarcity and potential value of $MET tokens.

Key Concept: A finite or controlled supply can drive demand and price stability.

Layer 1: Quadratic Voting System with Staking Options

Quadratic Voting System

Definition: A voting mechanism where the cost of each additional vote increases quadratically.

Importance: Promotes fairer decision-making by giving more weight to a diverse range of opinions.

Key Concept: Mitigates the influence of large stakeholders and encourages wider community participation.

Staking Options for Governance

Single Staking

Definition: Stake a single side of $MET tokens to participate in governance.

Importance: Simple way for users to contribute to governance and earn rewards.

Key Concept: Direct staking of tokens to support network security and governance.

LP Staking

Definition: Stake liquidity provider (LP) tokens, representing a pair of assets in a liquidity pool (e.g., MET-SOL & MET-USDC).

Importance: Enhances liquidity while enabling governance participation.

Key Concept: Integrates liquidity provision with governance, incentivizing dual participation.

Layer 2: Active Staking Rewards, Voting Time Boost, and Shared Revenue

Active Staking Rewards

Definition: Incentives given to users who stake their $MET tokens and participate actively.

Importance: Encourages long-term commitment and security within the network and protocol.

Key Concept: Provides a steady income stream to users and supports protocol and network stability.

Voting Time Boost

Definition: Extra voting power granted to users who vote promptly or consistently.

Importance: Motivates timely participation in governance decisions.

Key Concept: Ensures that the governance process remains dynamic and responsive.

Shared Revenue

Definition: Distribution of a portion of the platform’s revenue among active stakers.

Importance: Provides additional incentives and aligns the interests of users with the platform’s success.

Key Concept: Creates a sustainable ecosystem where users benefit directly from the platform’s growth.

Layer 3: Community Reward System

Definition: A system that distributes rewards to community members for their contributions and activities.

Importance: Fosters an engaged and motivated community.

Key Concept: Recognizes and incentivizes valuable participation, ensuring the community’s growth and sustainability.

Core Principles of Meteora DAO

  1. Community Empowerment and Inclusivity

    • Quadratic Voting: More voting power to smaller stakeholders.
    • Staking Multiplier: Boost voting power based on staking duration.
    • Governance Forum: Open discussions, proposal submissions, and regular community calls.
    • Community Grants: 10% of DAO treasury for funding initiatives.

  2. Token Vesting

    • Linear Vesting: Tokens earned subject to linear vesting over a set period.
    • Staking Rewards: Contributors can stake vested tokens for rewards and voting power.

  3. Time-Locked Unstaking Period

    • Unstaking Request: One-month time-locked period with decreasing voting power.
    • Flexibility and Commitment: Maintains long-term commitment while providing flexibility.

  4. Value Creation and Merit-based Rewards

    • Proof-of-Value: System to quantify contributions.
    • Vested Rewards: Token rewards vested over two years.
    • Partnerships: Collaborate with DeFi projects for cross-ecosystem incentives.

  5. Decentralized Governance and Decision-making

    • Modular Governance: Separate processes for tokenomics, upgrades, partnerships.
    • Proposal Lifecycle: Discussion > on-chain voting (quorum 25%) > implementation.
    • Decentralized Identities: Secure and verifiable voting processes.

  6. Collaborative Incentive Structures

    • Liquidity Mining Programs: Incentivize collaboration among LPs.
    • Protocol Fee Distribution: Distribution of fees among stakers, LP providers, active participants, DAO Treasury, and Core Team.

  7. Practical Utility and Real-world Applications

    • Partnerships: Tokenize traditional assets on Solana.
    • User-friendly Interfaces: Educational resources for onboarding mainstream users.

  8. Continuous Innovation and Technological Advancements

    • R&D Workstream: Focus on liquidity solutions and scalability.
    • Community Contributions: Reward contributions to the open-source codebase through bug bounties and grants.

Conclusion

By aligning the Meteora DAO proposal with Vedic philosophy and integrating AI, we ensure that it is not only a robust and innovative DeFi platform but also one that embodies holistic and timeless principles.

This alignment, combined with AI’s capabilities, promotes a balanced and sustainable ecosystem that nurtures the physical, energetic, mental, intellectual, and ultimate states of existence for its community.

7 Likes
2

This is a great framework to get things started. There are several moving parts to this and the DAO formation at this time. While I believe ultimately you will want the DAO to vote on things once it is formed, as with any new organization, bureaucracy and ensuring every small detail is covered will slow things down quite a bit. Initially, I thought forming a proxy DAO would be the best approach, but setting that up would just lead back to the same slow process.

I propose, with this framework, to develop a small team of members to create the TGE strategy. This team will be able to move quickly to reach the TGE point and then turn it over to the DAO for governance.

This team would be decided by Ben and the members he chooses.

With this small group, more things could be kept confidential to prevent Sybil attacks and move things along quickly to hand over to the DAO.

There are several members who provide invaluable tools, help, etc., to the DAO that I could think of, but I would like to hear feedback to see if others are okay with this approach.

3

The idea its implementing Meteora Dao in Layers, starting from layer 0.

And during each layer application we make the best decisions on the go.

4

Yep I agree this is the best approach. Just thinking about who is going to make these decisions and discuss this to a point to move forward at each step? With a large group it is almost impossible. Once you get to the post TGE event then large decisions can be turned to the DAO. Don’t want to lose the move fast and break things approach.

1 Like
5

Im fully committed with Meteora DAO.

Im gonna push things to make it happen.

1 Like
6

I like all the points in this proposal
I’d like to highlight the LP Staking point - it’s a great idea that reflects the concept of the protocol, I really like to leverage tokens in LP rather than just putting them into staking with a lock on indefinitely

2 Likes
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LP Staking was @ben idea, mayb implement with lock periods ir set 30 days like unstaking period

8

Hi, this point is still in the process of finding a better solution. Somebody will be able to create more wallets or influence other people’s decisions. Now I think about this system: if you want to participate in voting you need to give your individual oppinion independent of money. Top 10 the best opinion according to devs knowledge will be allowed to participate in new voting which will have 1 vote - 1 wallet (which has been connected to the site for more than 3 months(OG user)) + profile (which will be verified)
It’s really difficult system, but if it will be DAO core, It might be invisible system. User will able to see only: “You can vote or not”.

There is 1 subnetwork STEP on Avalance, they are using this system, it dosen’t work without control, here we need a floating interest rate. Whales always hold their coins, so if you give them a better rate they will be sell, while new users will be earn less rate, less coins and get less price for their coins…

Too little people will be participate in disscussions, community calls e.t.c.

The first reason that not all people speak english, or don’t have enought time, or have different time… If you want to invite experts, proffesionals with really good oppinion, you should interest them with rewards. You should buy their part of time…