GITBOOK-30: Update META page

metaDAOproject · Oct 26, 2024 · 8cbfdd5 · 8cbfdd5
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diff --git a/docs/.gitbook/assets/God_Rays (1).png b/docs/.gitbook/assets/God_Rays (1).png
diff --git a/docs/.gitbook/assets/Mediakit-colors-red (1).png b/docs/.gitbook/assets/Mediakit-colors-red (1).png
diff --git a/docs/.gitbook/assets/MetaDAO-logo (1).png b/docs/.gitbook/assets/MetaDAO-logo (1).png
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diff --git a/docs/.gitbook/assets/autocrat-markets (1).png b/docs/.gitbook/assets/autocrat-markets (1).png
diff --git a/docs/.gitbook/assets/conditional-markets-dark (1).png b/docs/.gitbook/assets/conditional-markets-dark (1).png
diff --git a/docs/.gitbook/assets/conditional-markets-interaction (1).png b/docs/.gitbook/assets/conditional-markets-interaction (1).png
diff --git a/docs/.gitbook/assets/conditional-vault-quote (1).png b/docs/.gitbook/assets/conditional-vault-quote (1).png
diff --git a/docs/.gitbook/assets/conditional-vault-underlying (1).png b/docs/.gitbook/assets/conditional-vault-underlying (1).png
diff --git a/docs/.gitbook/assets/conditional-vaults (1).png b/docs/.gitbook/assets/conditional-vaults (1).png
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diff --git a/docs/.gitbook/assets/grant-flow-chart (1).png b/docs/.gitbook/assets/grant-flow-chart (1).png
diff --git a/docs/.gitbook/assets/grant-ideation-decision-market (1).png b/docs/.gitbook/assets/grant-ideation-decision-market (1).png
diff --git a/docs/.gitbook/assets/grant-spot-evaluation (1).png b/docs/.gitbook/assets/grant-spot-evaluation (1).png
diff --git a/docs/.gitbook/assets/grant-summary (1).png b/docs/.gitbook/assets/grant-summary (1).png
diff --git a/docs/.gitbook/assets/protocol-no-background (1).png b/docs/.gitbook/assets/protocol-no-background (1).png
diff --git a/docs/.gitbook/assets/settled-market-conditional-vault (1).png b/docs/.gitbook/assets/settled-market-conditional-vault (1).png
diff --git a/docs/.gitbook/assets/twap-chart (1).png b/docs/.gitbook/assets/twap-chart (1).png
diff --git a/docs/implementation/program-architecture.md b/docs/implementation/program-architecture.md
@@ -14,7 +14,7 @@ Blockchains like Solana don't allow you to revert transactions after they've bee
 
 Conditional tokens are tied to _conditional vaults_. Each conditional vault has a specific _underlying token, settlement authority,_ and _proposal_. In the case of futarchy, the underlying token would be either USDC or the DAO's token, the settlement authority would be the DAO's treasury, and the proposal would be a proposal to the DAO.
 
-<figure><img src="../.gitbook/assets/conditional-vaults.png" alt="Conditional Vault Program" width="563"><figcaption></figcaption></figure>
+<figure><img src="../.gitbook/assets/conditional-vaults (1).png" alt="Conditional Vault Program" width="563"><figcaption></figcaption></figure>
 
 Once a vault is created, anyone can deposit underlying tokens in exchange for conditional tokens. You receive two types of conditional tokens: ones that are redeemable for underlying tokens if the vault is finalized and ones that are redeemable for underlying tokens if the vault is reverted. For example, if you deposit 10 USDC into a vault, you will receive 10 conditional-on-finalize USDC and 10 conditional-on-revert USDC.
 
@@ -40,7 +40,7 @@ So we create two markets per proposal: one where conditional-on-pass META is tra
 
 ### AMM <a href="#amm" id="amm"></a>
 
-Decision markets are facilitated through a constant-product AMM.&#x20;
+Decision markets are facilitated through a constant-product AMM.
 
 Importantly, this AMM provides an on-chain time-weighted average price (TWAP) oracle that can be used by autocrat to determine when to pass or fail proposals. The oracle follows the same design as [Uniswap V2](https://docs.uniswap.org/contracts/v2/concepts/core-concepts/oracles), and uses several additional mechanisms to ensure manipulation-resistance.
 
@@ -56,4 +56,4 @@ The requisite conditional vaults and markets are created at the same time.
 
 After a configurable amount of time (3 days by default), anyone can trigger proposal finalization. In finalization, autocrat checks if the TWAP of the pass market is x% higher than the TWAP of the fail market, where x is a DAO-configured threshold.
 
-&#x20;If it is, it finalizes the pass market, reverts the fail market, and allows the SVM instruction to be executed. If it isn’t, it reverts the pass market, finalizes the fail market, and does not allow the SVM instruction to be executed.
+If it is, it finalizes the pass market, reverts the fail market, and allows the SVM instruction to be executed. If it isn’t, it reverts the pass market, finalizes the fail market, and does not allow the SVM instruction to be executed.
diff --git a/docs/metadao/legal.md b/docs/metadao/legal.md
@@ -1,3 +1,9 @@
 # Legal
 
 MetaDAO is not a legal entity - it's a cybernetic entity orchestrated by programs stored on the Solana blockchain - but it controls MetaDAO LLC, which is a DAO LLC registered with the Marshall Islands through [MIDAO](https://www.midao.org/). MetaDAO LLC retains legal ownership over the domain names, codebases, and social media accounts associated with MetaDAO.
+
+The operating agreement and corporate charter of MetaDAO LLC are below:
+
+{% file src="broken-reference" %}
+
+{% file src="broken-reference" %}
diff --git a/docs/metadao/meta.md b/docs/metadao/meta.md
@@ -1,11 +1,7 @@
 # META
 
-### Purpose
+MetaDAO is governed by META, whose mint is METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr.
 
-All futarchies need an asset to use in its decision markets. MetaDAO has META, whose mint is METADDFL6wWMWEoKTFJwcThTbUmtarRJZjRpzUvkxhr.
+On November 15th 2023, 10,000 META was [airdropped to 60 wallets](https://blog.metadao.fi/the-meta-dao-decentralizes-d2d01dd5aa45), with the remaining 990,000 META being sent to MetaDAO's treasury. All other META has entered the circulating supply through market-approved governance proposals.
 
-### Distribution
-
-To bootstrap the governance process, 10,000 META was airdropped to \~60 wallets. The remaining supply was held by the DAO's treasury.
-
-More META has entered the circulating supply through successful governance proposals, such as Collosseum's proposal to swap $250,000 for 437 META from the treasury. As of May 2024, the circulating supply stands at around 15,798 and 5,087 META is held by the DAO treasury and multisigs.&#x20;
+In March 2024, a group of community members created a proposal to [burn 979,000 META from the treasury](https://futarchy.metadao.fi/metadao/proposals/ELwCkHt1U9VBpUFJ7qGoVMatEwLSr1HYj9q9t8JQ1NcU). That proposal passed, meaning that MetaDAO may need to eventually migrate to a new token mint if it wants to issue new tokens.