Where analysts form opinions on ownership coins. Insights into organizations, financials, and decision markets. Join: t.me/Official01Resolved
Worldwide
- Tweets 623
- Following 69
- Followers 1,122
- Likes 2,241
Pinned Tweet
August’s Ownership Coin Monthly is now live.
This month we look at how much capital ownership coins should raise, what investors are paying for above NAV, and why tokenized equity and ownership coins may ultimately converge rather than compete.
Also inside:
▪️ Valuations, raise timing, and what the @ripcarsio approach gets right
▪️ What @crediblefin's premium to NAV implies about the value of the operating business
▪️ How operating company inventory changes CARS NAV and what may be driving its premium
▪️ @Umia_finance's $6M ICO on Base and the first real evidence of ownership coin demand beyond Solana
▪️ @LasoFinance routing another ~$32K of revenue to the DAO treasury in August
▪️ How @fairscalexyz is helping teams and launchpads curate their initial investor base
▪️ @Omnipair crosses $5.9M in cumulative volume and unveils Dusk V2
▪️ Plus treasury values, NAV and decision market activity across @MetaDAOProject, Solomon, P2P, Avici, Umbra, Loyal, and the wider ecosystem
2
10
25
2,541
Credible is seeking approval to deploy $500K from the treasury to be used as settlement capital for 3 months, with the principal returned to the DAO at term end.
@crediblefin pays merchants before incoming collections have fully cleared. So as payment volume grows, it needs more capital to bridge that timing gap.
Credible reports monthly volume rising from $32M to $183.1M over twelve months, while interest payments on externally borrowed capital has reached approximately $137K per month. Replacing part of that borrowing with its own capital reduces financing costs and supports continued same day settlement.
For solana:CREDBHvVqREBCAxMihzr8D1nepHMr2gmQoZWpmgGmeta holders, the benefit is better economics in the underlying business. More of the money generated by the business can remain within Credible rather than going to external lenders.
The proposal mentions terms for usage, tracking, and upcoming monthly reporting. However some useful clarifications would be:
1. Expected interest savings in the 3 month period from the $500K loan
2. A broader revenue or profit-remittance policy to establish how improved business performance reaches the treasury over time
The proposal provides good commercial rational, but fuller financial disclosures would make the trade off easier to evaluate. Let's see what the market has to say.
2
2
20
1,161
The TWAP window starts in ~13 hours. At the time of writing, the decision market has recorded 0 trades and $0 in volume. Follow trading activity and market conviction on 01Resolved:
01resolved.com/credible/prop…
Trade the decision market on @MetaDAOProject:
metadao.fi/decisions/credibl…
1
2
176
We published a NAV analysis of @Solomon_labs in our June Ownership Coin Monthly Report. At the time, the market was losing patience as the team focused on building core infrastructure, regulatory positioning, audits and more.
solana:SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta was trading at a ~15–20% discount to NAV with spot around $0.60. Today, it trades above $1.00 and at a ~50% premium to NAV as the market reprices @solomon_labs’ execution and growing adoption of USDv.
2
8
47
1,495
Launched on @futarddotio, @LFOWNDOTFUN was an idea first posted on @JustSparkIdeas and then built as an ownership coin by founders @Mathis_btc and @Ewan_btc, after 28 backers committed $31.7K against a $10K target.
The memecoin launchpad is built around pairing memes with value-accruing assets, in this case the @MetaDAOProject ecosystem. Launching a meme requires buying the underlying ownership coin, while every trade routes a 2.5% fee back to the creator and the LFOWN DAO.
LFOwn has since launched 105 coins, with 4 graduating and ~$2K in fees reaching the DAO. Those fees are paid in ownership coins rather than USDC, with the launchpad using the 01Resolved API to track the value of its growing treasury.
The LFOWN token has generated nearly $2M in trading volume over the last 24 hours.
5
8
25
2,572
1/ Up to $6.83M of the $32.25M held across ownership coin treasuries could convert into @Solomon_Labs USDv, equal to ~21% of total treasury value across the MetaDAO ecosystem.
Solomon was first to begin converting treasury assets into USDv. In April, it received approval to move $4.5M into a Company Treasury Vault. Today that vault holds $3.90M USDC and $250K USDv.
@MetaDAOProject followed in August with $2M USDC approved for conversion, although only ~$1K has been converted so far.
Now Umbra, Credible and Omnipair are trading decision markets to convert another $680K.
2
11
23
2,794
3/ @crediblefin is proposing a single $250K conversion, equal to ~9% of its ~$2.7M USDC balance.
At 2.5% to 5%, that would generate ~$6.3K to ~$12.5K a year, with ~$521 to ~$1.04K a month routed to its OPEX wallet.
That is equivalent to ~0.21% to ~0.42% of Credible’s $250K monthly spending limit.
The market is passing by ~6% on $7.15K across 10 trades from 5 unique traders. One $7.14K Fail-sell accounts for 99.77% of total volume.
1
6
150
4/ @omnipair is proposing to move up to $130K into USDv through staged transactions, equal to ~20% of its ~$641K idle USDC balance and ~14% of its ~$939K treasury.
At 2.5% to 5%, that would generate ~$3.3K to ~$6.5K a year, with ~$271 to ~$542 a month routed to its OPEX wallet.
Relative to its $50K monthly spending limit, that is the largest of the three at ~0.54% to ~1.08%.
The market is still Pre-TWAP, with $4.15 in volume across 4 trades from 1 unique trader.
5
103
01Resolved retweeted
If you ever want to track metaDAO launches
You shouldn’t sleep on this 👇
01resolved.com/
When you sign in you’ll receive first hand alert on Tg on decision market & metaDAO ICO launches 🚀
Futarchy doesn’t always have to be complicated as perceived.
@01Resolved
4
6
13
281
We're excited to announce that @Drew01R, co-founder of 01Resolved, will be one of five members of @umia_finance's Curation Committee.
In the past we wrote about the risks capital formation platforms take on when curation is centralized, and believe Umia's hybrid approach is a worthwhile direction for the ownership coin category.
Umia's Curated Track is reviewed by the committee, while its Community Track will be curated through decision markets. Ventures sourced by Umia's team move forward unless a committee member raises a reasoned concern about venture quality or legitimacy. Drew's role is to raise concerns within the committee where he sees them.
Drew brings a CFA background and years of crypto CFO experience to the committee, with a focus on evaluating businesses, financials and capital allocation.
4
3
33
1,870
It's notable that @MetaDAOProject were the first to controversially get rid of investor lockups, and it ended up being objectively positive and widely copied (most recently by Ethena).
Now they are bravely experimenting with getting rid of founder lockups- even more controversial. I was adamantly against it at first, but have changed my mind since.
That a founder can sell early doesn't preclude the right founders with the right vision to hold their stake and remain incentivized - those can continue as is, and often do in public equity markets.
As long as transparency of sales exists, and price-appreciation conditions remain, the vesting lockup period is not an important investor protection. Getting rid of it doesn't really impact MetaDAO's pitch to investors, but it does materially and positively impact the pitch of MetaDAO to 21st century "fast company" founders, an ever growing cohort which have place to for access to capital markets.
2
4
39
6,578
MetaDAO currently holds ~$495K worth of ownership coins accumulated through FutarchyAMM and Meteora trading fees. A new proposal to put those holdings to work by lending them out is currently passing by ~11%.
In January, a decision market approved funding for META’s market making program, which helped secure listings on KuCoin and later Coinbase, the first tier-one listings for an ownership coin. @MetaDAOProject is now looking to support the projects it launches using the assets it accumulates.
solana:BANKJmvhT8tiJRsBSS1n2HryMBPvT5Ze4HU95DUAmeta, solana:SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta, solana:PRVT6TB7uss3FrUd2D9xs2zqDBsa3GbMJMwCQsgmeta and solana:CREDBHvVqREBCAxMihzr8D1nepHMr2gmQoZWpmgGmeta account for ~88% of the portfolio, worth ~$132K, $133K, $93K and $77K respectively. If approved, MetaDAO could lend up to 100% of these holdings to market makers or use them to support exchange listings and other integrations.
So far, the market has traded ~$124K across 990 trades from 8 unique wallets, with ~59% of volume and ~70% of traders economically Pass-aligned.
1
5
26
2,700
01Resolved retweeted
It’s the first week of September and we’ve already seen five new decision markets begin trading.
Ownership Coins Briefing 017, your weekly recap covering financials, decision markets and project updates from the MetaDAO ecosystem and beyond, is now live.
Here’s what’s inside:
▪️ A decision market to officially wind down @Paystreamlabs is passing by ~3%.
▪️ @MetaDAOProject proposes to use its ownership coin portfolio to support market making across projects it launches.
▪️ 01Resolved published the Ownership Coin Monthly for August, arguing that raises should be sized to the cost of reaching the next proof point.
▪️ @Solomon_Labs proposes to withdraw its entire Meteora LP ahead of the public USDv launch.
▪️ @ripcarsio approved removing the 18-month cliff on its team performance package.
▪️ @umia_finance’s UMIA trades at ~$0.74 on Base, up ~106% from its $0.36 ICO price.
▪️ @omnipair details Dusk V2, including one-sided leveraged LP and spot margin.
▪️ @Basket_on_sol cuts its decision market duration from three days to 24 hours
Plus updates from @crediblefin @loyal_hq and more.
1
3
13
839
01Resolved retweeted
Solomon Labs is preparing for the public launch of USDv and has proposed withdrawing its entire Meteora LP.
Trading in the @solomon_labs decision market has been heavily aligned with approval. So far, 99.68% of volume and 92.86% of traders are economically Pass-aligned, with $32.1K in volume across 14 trades from 12 unique traders.
If approved, ~900K SOLO worth ~$611K would move back into the treasury. The Meteora pool was originally created to expand SOLO’s distribution at a time when the FutarchyAMMs were not indexed by Dexscreener or other platforms. That role is less important today, with the FutarchyAMM now indexed and holding ~$2.92M in liquidity, making it the deepest market in the @MetaDAOProject ecosystem.
The returned SOLO could later be used for exchange access, professional market making, new trading venues or ecosystem rewards, but any deployment would require separate proposal approved through a decision market.
trades at ~$0.68, roughly at par with our estimated NAV (AS), narrowing from a ~15% to ~20% discount through June / July. The approved TWAP sits at $0.6881 versus $0.6352 if rejected, meaning the market currently prices SOLO ~8.3% higher with the withdrawal than without.
3
19
741
It’s the first week of September and we’ve already seen five new decision markets begin trading.
Ownership Coins Briefing 017, your weekly recap covering financials, decision markets and project updates from the MetaDAO ecosystem and beyond, is now live.
Here’s what’s inside:
▪️ A decision market to officially wind down @Paystreamlabs is passing by ~3%.
▪️ @MetaDAOProject proposes to use its ownership coin portfolio to support market making across projects it launches.
▪️ 01Resolved published the Ownership Coin Monthly for August, arguing that raises should be sized to the cost of reaching the next proof point.
▪️ @Solomon_Labs proposes to withdraw its entire Meteora LP ahead of the public USDv launch.
▪️ @ripcarsio approved removing the 18-month cliff on its team performance package.
▪️ @umia_finance’s UMIA trades at ~$0.74 on Base, up ~106% from its $0.36 ICO price.
▪️ @omnipair details Dusk V2, including one-sided leveraged LP and spot margin.
▪️ @Basket_on_sol cuts its decision market duration from three days to 24 hours
Plus updates from @crediblefin @loyal_hq and more.
1
3
13
839
Read Ownership Coins | Briefing 017:
01resolved.com/research/pays…
1
184