This week's ownership coins briefing covers a malicious proposal impacting Umbra's treasury, Loyal's autonomous vault proposal passing, Ordr's $9.29M close on Futardio, the first Ownership Score results, and updates from Credible, Jurassic Finance, Spark, and Umia.
Ownership Coin Market Snapshot
- Total Ownership Coin Market Cap: $190M
- Total Ownership Coin Treasury Value: $35M
Ownership coin financials, decision market and token data sourced from 01Resolved.
Key Takeaways
- An Umbra decision market is pricing a potentially malicious proposal to move $1.5M out of the treasury.
- Loyal's first team sponsored proposal passed by 2.51%.
- Ordr closed its $150K raise with $9.29M in commitments from 293 contributors.
- 01Resolved's Ownership Score analysis found score allocated wallets held 63% of their tokens after a day of trading, against 18% for everyone else.
A Live Decision Market to Move $1.5M of Umbra's Treasury
Umbra has a decision market trading on "Proposal 8sysa3XP", a potentially malicious proposal that would move $1.5M USDC out of its treasury.
The market is in the pre-TWAP window with $81.7K in volume across 105 trades from 6 unique traders, and pass-aligned volume at 52.53% against 47.47% fail-aligned.
Umbra's financials on 01Resolved show $2.48M in total NAV, so the proposal is asking for roughly 60% of the treasury in one transfer. This is a developing story and we will provide an update as more information becomes available.
Analyze conviction on 01Resolved and trade the decision market on MetaDAO.
Loyal's Autonomous Vault Proposal Passes
Loyal's first team-sponsored proposal passed by 2.51%. The "Autonomous treasury vaults, OTC, incentives and governance updates" decision market saw total volume reach $5.86K across 46 trades from 13 unique traders, and little opposition with ~84% of volume and ~74% of traders pass-aligned.
The proposal asked the market to price four actions at once. The Autonomous Treasury Vault is a Loyal Smart Account signed only by the treasury, able to run pre-approved operations such as Earn routing and moving AMM liquidity in and out without a separate proposal for each one.
The other three actions are an OTC sale of up to ~2.14M LOYAL targeting $300K, burning the team's unvested incentive allocation in favor of milestone-based minting, and a governance upgrade that raises the proposal staking requirement from 500K to 1M LOYAL and adopts asymmetric passing thresholds.
Loyal's first autonomous vault goes live next week, after it reached half a million in active deposits for its Earn product within a month and set $1M as the next target.
Loyal's financials on 01Resolved show ~$350K in total NAV against a $60K monthly spending limit, up to ~6 months of runway when factoring in the LP, with LOYAL trading at an estimated ~660% premium to NAV (AS). The OTC sale would add $300K to that treasury, and the vault would route the idle portion of it into Earn.
Ordr Closes 62x Oversubscribed as MetaDAO Caps a Record July
Ordr, an onchain orderbook exchange, closed its $150K raise with $9.29M committed from 293 contributors, roughly 62x oversubscribed.
Ordr's financials on 01Resolved show $129K in total NAV against a $15K monthly spending limit and ~7 to ~9 months of runway. ORDR is trading at an estimated ~25% discount to NAV (AS), an unusual place for a launch this heavily oversubscribed to open.
The Ordr ICO capped MetaDAO's strongest month, with three startups (private cards from Laso Finance, onchain payments from Credible, and Hot Wheels gacha from Rip Cars) raising $5.25M on $90M in commitments from more than 1,500 contributors across July.
The First Ownership Score Results
MetaDAO assigned Ownership Scores to more than 115K wallets on July 21, and up to half the Rip Cars allocation was distributed by that score. 01Resolved pulled the full dataset on the raise and the first day of trading.
Of the top 100 scored wallets, only 14 participated, and of the top 1,000 only 53 contributed to the Rip Cars. Three of the five largest commitments came from wallets carrying no score at all, and the highest scored participant, ranked tenth globally with 27.8M points, committed ~$36K.
The tokens the score allocated moved differently once trading opened. Wallets that received an allocation through the score still held 63% of what they got after the first 24 hours, against 18% for the other cohort. Split by quartile, the top scored quartile sold 26% of its allocation, while the lowest sold 60% and 76% of those wallets exited entirely. The aggregate cuts differently: both cohorts sold about 42% of their tokens, and 56% of scored wallets sold something on day one against 29% of unscored. This is one raise on a formula MetaDAO has said may change, but weighting the allocation by score routed tokens to the wallets less likely to sell them immediately.
MetaDAO's financial's on 01Resolved show total NAV at $11.96M and NAV(AS) at an estimated ~$1K premium to spot.
Other ownership coin updates
- Credible reported $611M in payment volume with 65.2% of it settling on Solana, and went live in the Philippines the same week with peso pay-ins, payouts, and PHP support, its second new market since the raise closed. Credible's financials on 01Resolved show $4.25M in total NAV against a $250K monthly spending limit, ~13 to ~17 months of runway, with CRED at a ~44% premium to NAV(AS). That premium has roughly halved since we covered the raise last week.
- Rip Cars went live on Solana after its $31.9M committed ICO closed against a $250K cap. CARS now trades at a ~119% premium to its ICO price, and Rip Cars' financials on 01Resolved show $276K in total NAV, ~5 to ~7 months of runway, and an estimated ~90% premium to NAV(AS).
- Kimia is the next raise on Futardio, targeting $60K over four days from August 1. It is building an Ethena-style delta neutral yield product on Solana with its own perps venue underneath it.
- Futardio Cult has a live decision market on renewing its Blockformer growth partnership for three months at $5K. It is passing by ~80% with $4.23K in volume across 17 trades from 9 unique traders and ~78% of volume and ~89% of traders pass-aligned.
- Jurassic Finance said Deaton, the first tokenized dinosaur, is coming to Solana, with the raise set for August 17.
- Umia launched its testnet ahead of a mainnet release, opening the platform for users to test and suggest changes.
- Spark completed a full futarchy loop for Basket. A decision market approved a $3K investment from the IdeaCoin treasury, the raise went live and committed those funds, and it reached oversubscription with a week still to run. Spark also put a decision market inside its Mini App, running a 24-hour warm-up followed by 48 hours of TWAP.
- Ryvo Network and Myco Realms are both preparing Futardio ICOs. Myco Realms is building a futarchy-governed agribusiness, and Ryvo is building open agentic payments, with its founder arguing the real market for agent payments is parts and procurement rather than consumer shopping.
- Omnipair shipped a new market view putting price, borrow costs, volume, utilization headroom, and market history on one screen.
- Flash Trade rolled out API V2 with updated docs, and reported the FLP Equity Pool up 5.6% over the month while SPY fell 1.63%.
