![Screenshot 2024-03-18 at 7.53.14 PM](https://hackmd.io/_uploads/r1sgELUAp.png) # Proposal 13 | Colosseum's Acquisition of $250,000 USDC worth of META **Overview** * Colosseum wishes to acquire {tbd} META (`METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr`) from The MetaDAO Treasury (`ADCCEAbH8eixGj5t73vb4sKecSKo7ndgDSuWGvER4Loy`). * If the proposal passes, the price per META will be the TWAP of the pass market if below $850. If this proposal is approved and the pass market TWAP surpasses $850 per META, but is below $1,200, then the acquisition price per META will be $850. If the pass market TWAP surpasses $1,200, then this proposal becomes void and the USDC in the multisig will be returned to Colosseum’s wallet. * A total of $250,000 USDC (`EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v`) will be committed by Colosseum. * The MetaDAO will transfer 20% of the final allocation of META to Colosseum's wallet immediately and place 80% of the final allocation of META into a 12 month, linear vest Streamflow program. **Rationale** Colosseum runs Solana’s hackathons, supports winning founders through a new accelerator program, and invests in their startups. Our mission is to bolster innovative improvements to technology, economics, and governance in crypto through all 3 pillars of our organization. In line with that mission, we believe MetaDAO is one of the most promising early experiments in crypto and we strongly believe we can help the project grow significantly due to our unique position in the Solana ecosystem. In addition to the capital infusion provided by Colosseum, our primary value proposition is our ability to bring new entrepreneurs and cyber agents to MetaDAO over the long-term. Given that a majority of the VC-backed startups in the Solana ecosystem started in hackathons, we can utilize both our hackathons and accelerator program to funnel talented developers, founders, and ultimately revenue-generating startups to the DAO. In practice, there are many ways Colosseum can promote MetaDAO and we want to collaborate with the DAO community around ongoing initiatives. To show our commitment towards future collaborations, we promise that if this proposal passes, the MetaDAO will be the sponsor of the DAO track in the next Solana hackathon after Renaissance, at no additional cost. The next DAO track prize pool will be between $50,000 - $80,000. **Execution** The proposal contains the instruction for a transfer {tbd} META into a Squads multisignature wallet [`FhJHnsCGm9JDAe2JuEvqr67WE8mD2PiJMUsmCTD1fDPZ`] with a 5/7 threshold of which the following parties will be members: * Colosseum (`4XLmkaoyi988U6dvvrNufkGsQLWQ5JRySLSrnowG3TVa`) * Colosseum (`6zgcrprcBbm3XzAsNEzCdR2zYd2SzWkgRAzrWhvATeT5`) * MetaProph3t (`65U66fcYuNfqN12vzateJhZ4bgDuxFWN9gMwraeQKByg`) * 0xNallok (`4LpE9Lxqb4jYYh8jA8oDhsGDKPNBNkcoXobbAJTa3pWw`) * Cavemanloverboy (`2EvcwLAHvXW71c8d1uEXTCbVZjzMpYUQL5h64PuYUi3T`) * Dean (`3PKhzE9wuEkGPHHu2sNCvG86xNtDJduAcyBPXpE6cSNt`) * Durden (`91NjPFfJxQw2FRJvyuQUQsdh9mBGPeGPuNavt7nMLTQj`) The multisig members instructions are as follows: 1. Accept receipt of META into the multisig as defined by onchain instruction 1. Accept the full USDC amount of $250,000 from Colosseum into the multisig 1. Determine and publish the price per META according to the definition above 1. Confirmation from two parties within The MetaDAO that the balances exist and are in full 1. Take `$250,000 / calculated per META` and determine final allocation quantity of META 1. Transfer 20% of the final allocation of META to Colosseum’s address [`7SwCJg3Ti1F8fsYDvppWo3EfcgCtSerFCRfbLiV3BEuv`] 1. Configure a 12 month Streamflow vesting program with a linear vest 1. Transfer 80% of the final allocation of META into the Streamflow program 1. Return any remaining META to the DAO treasury > NOTE: The reason for transferring 2,060 META is due to the fact that there is only one transfer and by overallocating we have a wider price range to be able to execute the instructions above. This is due to the fluctuations in the price of META. > > For example if the price of TWAP for META is $250 by the time the proposal passes, the amount of META allocated for the $250,000/$250 = 1,000 META. In this case 1,060 META would be returned to the treasury. **ROI to META** We won’t speculate on what the exact ROI will be to META in the short to medium-term. However, if this proposal passes, we believe that our strategic partnership will increase the value of META significantly over the long-term due to Colosseum’s unique ability to embed MetaDAO as a viable institution that can help future crypto founders grow their businesses. **Details** * META Spot Price 2024-03-18 18:09 UTC: $468.09 * META Circulating Supply 2024-03-18 18:09 UTC: 17,421 * Circulating supply could change depending on the current dutch auction * Offer Price per 1 META: Any market price up to $850 per 1 META * Offer USDC: $250,000