---
type: decision
entity_type: decision_market
name: "Manna Finance: Futardio Fundraise"
domain: internet-finance
status: failed
parent_entity: "[[manna-finance]]"
platform: "futardio"
proposer: "Manna Finance team"
proposal_url: "https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
proposal_date: 2026-03-03
resolution_date: 2026-03-04
category: "fundraise"
summary: "Zero-interest CDP protocol on Solana seeking $120K for 12-month runway"
tracked_by: rio
created: 2026-03-11
key_metrics:
  raise_target: "$120,000"
  total_committed: "$205"
  outcome: "refunding"
  duration: "1 day"
  oversubscription_ratio: 0.0017
---

# Manna Finance: Futardio Fundraise

## Summary
Manna Finance attempted to raise $120,000 through Futardio to build a Liquity V1-style zero-interest CDP protocol on Solana. The fundraise sought 12 months of runway at $10,000/month burn rate, with funds allocated to smart contract audit ($15-25K), mainnet deployment, founder salary, and liquidity bootstrapping. The raise failed catastrophically, receiving only $205 in commitments (0.17% of target) before closing in refunding status after one day.

## Market Data
- **Outcome:** Failed (refunding)
- **Raise Target:** $120,000
- **Total Committed:** $205
- **Duration:** 1 day (2026-03-03 to 2026-03-04)
- **Oversubscription:** 0.17%

## Significance
This represents one of the most severe fundraise failures on Futardio's platform, with the raise attracting less than 0.2% of its target. The failure occurred despite detailed documentation including competitive analysis, roadmap, team structure, and go-to-market strategy. The project proposed MetaDAO futarchy governance from launch and positioned itself as the only zero-interest CDP on Solana, but failed to attract capital.

The rapid closure (1 day) and refunding status suggests either lack of market interest in the CDP model on Solana, insufficient team credibility, or poor market timing. The project competed against established Solana stablecoins (USX, USDv, jupUSD, USDGO) with different mechanisms.

## Relationship to KB
- [[manna-finance]] — parent entity
- [[futardio]] — fundraising platform
- [[metadao]] — planned governance mechanism
- Attempted implementation of [[futarchy-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control]]