MetaDAO's community has decisively rejected a proposal to sell $6 million worth of META tokens to venture capital firms DBA and Variant at a 30% discount. The vote, which concluded on October 13, involved over 878,800 USDC in volume and was a response to concerns about diluting existing holders by 7-8%. The proposal aimed to mint 1.47 million new tokens, with each VC firm set to purchase $3 million worth at $4.0795 per token, significantly below the market price. The MetaDAO team, comprising two founders, a part-time designer, and an intern, had suggested the deal to extend their operational runway, despite having $1.8 million in cash reserves sufficient for 24 months. The DAO employs a unique futarchy system for governance, blending prediction markets with decision-making. Following the rejection, META's price surged over 16% to $6.95, reflecting market confidence in the community's decision. DBA co-founder Jon Charbonneau acknowledged the proposal's flaws and indicated that future capital raises might adopt a different approach.