Sanctum Becomes First Solana Project to Adopt MetaDAO Governance Model
MetaDAO is introducing markets-based governance, or "futarchy," to Solana. The liquid staking startup Sanctum is the first project to fully adopt this system for its governance, initiating a decision market that attracted over 200 trades in three hours.
Key points:
- Futarchy allows market predictions to guide governance decisions rather than traditional voting.
- MetaDAO aims to become the default governance platform on Solana within 6 to 18 months.
- Current popular platforms include Realms, which utilizes token-based voting.
- MetaDAO operates through pass and fail markets for governance proposals, allowing users to trade based on expected outcomes impacting token prices.
- Sanctum's success could catalyze broader adoption of MetaDAO.
Overall, MetaDAO seeks to address inefficiencies in traditional DAO models, with proponents optimistic about its potential impact on Solana governance.