MetaDAO, a Paradigm-backed Solana launchpad built around futarchy, a governance model where markets help decide what gets approved, is seeking 2 million USDC to support smaller token raises on its platform.
The proposal, dubbed META-039, would transfer $2 million worth USDC to a 3-of-4 multisig controlled by MetaDAO's pseudonymous founder Proph3t, MetaDAO co-founder Kollan House, and David Khosroshvili and Ioseb Khutsishvili, two Georgia-based entrepreneurs behind MaxinAI.
The money would anchor the Ownership Capital fund, a proposed vehicle focused exclusively on MetaDAO raises.
The proposal argues that the current system needs more full-time troublemakers, adding that small MetaDAO raises often leave out institutional investors because funds usually have "minimum check sizes, and liquid funds generally have a limit on the percentage of a coin they can hold."
MetaDAO
It also argues that smaller raises matter because they preserve the chance of asymmetric upside, the same kind of lottery-ticket appeal that helped memecoins spread.
Some activists already exist, according to the proposal, but the authors argue a dedicated fund could make that work more consistent. That would make Ownership Capital less like a passive venture fund and more like an on-chain activist desk, the proposal reads.
If the proposal is approved by its June 8 deadline, the Ownership Capital fund would buy smaller MetaDAO-linked tokens, track those projects and, when needed, use MetaDAO's own futarchy system to push buyback or liquidation proposals.
- Launched in November 2023, MetaDAO is a Solana-based token launch and governance platform that uses futarchy, a system where markets, not token votes like on prediction markets, decide whether proposals pass.
- The platform lets traders buy and sell conditional tokens based on whether a proposal would make a project more valuable. If the market says the project is worth more with the proposal than without it, the proposal can pass.
- The platform raised $2.2 million in 2024 in a round led by Paradigm, which became MetaDAO's largest single token holder.
- In 2025, MetaDAO reports said the project raised another $9.9 million in OTC token sales to Paradigm, Variant.
- The round also appeared to include support from 6th Man Ventures, the venture firm founded by Mike Dudas, who also founded crypto media outlet The Block, after Dudas said in a now-deleted X post that META had become "a core position" for the firm.