Hughes on Nostr: Futarchy is the future. Why did the @MetaDAOProject project rise 40 times in only 3 ...

Futarchy is the future.

Why did the @MetaDAOProject project rise 40 times in only 3 days?

First of all, understand the concept of #Futarchy.

Futarchy is a form of government and governance model proposed by economist Robin.

✅Futarchy was called a 2008 buzzword by the New York Times.

✅V God gave a long discussion on his vision and realization of Futarchy on the Ethereum Foundation blog in 2014.

✅Solana founder toly @aeyakovenko has been shouting the slogan "Futarchy is the future" since a few days ago.

The Meta-DAO project on the sol chain is a DAO governance and decision-making mechanism project designed with the concept of Futarchy. In a small way, it is a new type of governance model of investment DAO. In the big way, in the future, both government forms and public policy decisions can be used in this form of market prediction. Improve the fairness and effectiveness of decision-making. There is no doubt that $META has become the absolute leading project of the #Futarchy concept. For example, $people was used as the leading coin of DAO.

The main reason for advocating futarchy as a future governance model is that it provides a decision-making mechanism based on predicting the market, aiming to improve the efficiency and effectiveness of government policies. Futarchy's philosophy is to "vote on values, but bet on beliefs", which means that the choice and implementation of public policies will be based on the collective wisdom of predicting the market's expected effects of these policies. Proponents of this method believe that it can significantly improve the policy-making process in the following ways:

1. Improve the quality of decision-making: By using the forecast market, futarchy aims to use the prediction of market participants for future events to guide policy choices. Market participants will benefit from their accurate predictions, so they have the incentive to provide as accurate information as possible. This is expected to improve the quality of policy decisions, because decisions will be based on the best estimates of policy consequences, not just political agendas or intuition.

2. Reduce the error of policy implementation: Futarchy emphasizes the use of conditional markets to estimate the impact of proposed policies on national well-being. This method is expected to reduce errors caused by misjudgment of policy consequences, because the automatic adoption of policies will be based on its prediction of a positive impact on national well-being (such as GDP+).

3. Reflect public values more effectively: Although futarchy requires clarification of the definition of "national well-being", which may introduce a new source of errors, this clarification process itself may reduce errors through the smooth treatment of values, compared with the illusions and errors common in traditional democratic systems. Solution decision-making, this method may provide a more accurate prediction of policy consequences.

4. Adaptability and flexibility: Futarchy allows different approaches to large and small decisions, providing space for "fast and thrifty" decisions, while ensuring the use of the least wrong rules in the most important decisions, even if they may be slow or cumbersome.