Metacoin: explanatory document (Metaverse DAO's token)

Who we are:

We are NEAR Metaverse DAO. Our main intentions are to record NEAR presence on metaverse, produce metaverse events to introduce NEAR artists and collectors to metaverse, and to expand NEAR presence to any virtual reality we can. We were founded in December, 2021, with the council members @thephilosopher, @JohnX and @gushlewis. And for now we built the NEAR Metaverse Connection Center on Cryptovoxels, our NEAR Metaverse Magazine, metaverse prizes, parties, interviews and historical recordings created as NFTs in our Mintbase store. We are a very active DAO and we made the Metacoin token in order to respect our main idea of decentralization and to stimulate the community to take an active role in building on and selecting projects to metaverse.

What is Metacoin?

Metacoin is a token created on by Metaverse DAO in order to decentralize the decisions in respect to Metaverse DAO’s budget. Metacoin holders will have two powers: (1) power to submit a project (in accordance with Metaverse DAO’s objectives) that can be funded by Metaverse DAO; (2) power to vote in a project to receive funding, a vote proportional to the amount of Metacoins held. For the beginning, the amount of the budget that will be governed by Metacoin holders will be 5% of our maximum budget, which amounts now to 250 usd in near. Our intention is to increase the amount of the budget in the power of the holders in the future, according to our budget capabilities.

Technical Aspects of Metacoin:

  • Wallets used to move funds: metaverse-dao.sputnik-dao.near & nearmetaversedao.near
  • 50,000 to be in the treasury; and 50,000 to be added to the liquidity pool, a little bit at the time (250 to 500 DAI in METACOIN per month in 10 to 20 years), in order to democratize the possibility of acquiring voting power, even in the future. [according to near funding]
  • Initial Liquidity Pool METACOIN/DAI: 1-1 | 500 of each were added to the liquidity pool, with 0.3% arbitrage fee.
  • Distribution method: 10/month for each council member, and up to 10/month for the community (1 for each participation) for participating in bounties, being hired or creating successful projects within the Metaverse DAO.
  • For each distributed Metacoin, we will feed the liquidity pool with at least the same amount of metacoin and the relative dai.

What to do with Metacoins?

  • Metacoin is tradable on with the pair Metacoin/DAI. So you can swap your Metacoins for DAI, or you can take your DAI and buy Metacoins. Just add the contract adress to find the token.

  • If you want, you can add liquidity to the liquidity pool.

  • You also can hold them with you and earn submission power and voting power in a part of the Metaverse DAO’s budget.

  • You can give it to friends, and they will be able to submit and vote in the Decentralized Project.


  • 1st distribution (December, 2021): 500 metacoins with 500 dai to a liquidity pool on and 30 metacoins distributed among the 3 members of the Metaverse DAO council.

  • 2nd distribution (January, 2022): 250 DAI and the relative METACOINs to the liquidity pool, 30 metacoins for the council, up to 10 metacoins distributed among the community members that have worked with us and have received from a payout proposal on our astrodao.

  • Next distributions: 250 to 500 metacoins/dai to the liquidity pool, 30 metacoins for the council, up to 10 metacoins distributed among the community members that have worked with us and have received from a payout proposal on our astrodao.


  • January: to launch metacoin on the forum and telegram, with the explanation about it; prepare holders to submit projects.

  • February: To receive submission of projects and to vote in a project to receive funding.

  • Next months: receive submissions and put them to vote; to fund the accepted submission.

  • April/May: To review the project and think about raising the Decentralized Project amount to 10% of our max funding (according to the budget capabilities and the number/complexity of submissions)

Join our community on Telegram:


Deposited 250 DAI + 226,95255946067843 metacoins in the liquidity pool on January 10th, 2022, 15:48 Brazilian Time, UTC-3. Left: 23.047 metacoins and 0.001 DAI deposited in, but not in the liquidity pool.

1 Like

We fed the liquidity pool with 245,64263268531405 dai and 203,047440539321600001 Metacoin.
14:52 utc,, February 12th, 2022.

We made a distribution of 100 metacoin equally to 10 DAOs. March 17th, 2022. And we appropriately will fed the liquidity pool with the same amount or more of metacoins and dai.

We are sending 10 metacoin to each DAOs that had some kind of metaverse contact with Metaverse DAO, up to 10 different DAOs:

  • Nxm DAO
  • DJ DAO
  • Kalakendra DAO
  • Muti DAO
  • Marma J DAO
  • C1 DAO
  • Governance DAO
  • Gambiarra DAO
  • The Clan DAO

Please explore our external wallet: NEAR Explorer | Account