---
type: decision
entity_type: decision_market
name: "Hurupay: Futardio Fundraise"
domain: internet-finance
status: failed
parent_entity: "[[hurupay]]"
platform: futardio
proposal_url: "https://v1.metadao.fi/hurupay/trade/HT3ScC7gyo3zTn95s9jR7J3ez5u8HrRfFwD33YjMHLy3"
proposal_date: 2026-02-03
resolution_date: 2026-02-07
category: fundraise
summary: "$3M fundraise for stablecoin payments platform; committed $2M (67%) before refunding"
key_metrics:
  raise_target: "$3,000,000"
  total_committed: "$2,003,593"
  fill_rate: "66.8%"
  token_symbol: "HUR"
  token_mint: "HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta"
  token_allocation:
    ico: "39.02%"
    liquidity: "11.31%"
    team: "42.66% (3-year lockup)"
    previous_investors: "7% (2-year vest)"
tracked_by: rio
created: 2026-03-11
source_archive: "inbox/archive/2026-02-03-futardio-launch-hurupay.md"
---

# Hurupay: Futardio Fundraise

## Summary
Hurupay attempted to raise $3M on Futardio (MetaDAO's futarchy launchpad) to scale its stablecoin-based cross-border payments platform. The fundraise committed $2,003,593 (67% of target) before entering refund status, making it a notable case of a futarchy-governed ICO that attracted substantial capital but failed to cross the completion threshold.

## Market Data
- **Outcome:** Failed (Refunding)
- **Raise Target:** $3,000,000
- **Total Committed:** $2,003,593 (66.8% fill rate)
- **Duration:** 2026-02-03 to 2026-02-07 (4 days)
- **Token:** HUR (HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta)

## Significance
This fundraise provides evidence of a "valley of death" zone in futarchy-governed ICOs where projects with strong fundamentals can attract meaningful capital but fail to convert interest into threshold-crossing commitment. Hurupay had demonstrated substantial traction: $36M+ in processed volume, $500K+ in revenue, 30,000+ users, and backing from Founders Inc and angels from Microsoft and Bankless. Despite these metrics, the raise could not reach completion, suggesting that futarchy mechanics may introduce coordination problems or conviction gaps that prevent marginal capital from committing.

The case contrasts with both obvious successes (substantial oversubscription) and obvious failures (minimal interest), revealing potential friction in the futarchy fundraising mechanism that warrants further investigation.

## DAO Configuration
- Team Sponsored Pass Threshold: -300bps
- Team Sponsored Stake Requirement: 0 HURU
- Pass Threshold: 300bps
- Stake Requirement: 1.5M HURU
- Proposal Duration: 3 days

## Relationship to KB
- [[hurupay]] — parent entity
- hurupay-raised-2m-of-3m-target-on-futardio-before-refunding-suggesting-futarchy-governed-launches-face-liquidity-or-conviction-gaps — primary claim
- [[MetaDAO is the futarchy launchpad on Solana where projects raise capital through unruggable ICOs governed by conditional markets creating the first platform for ownership coins at scale]] — platform context
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — mechanism friction

## Full Proposal Text

*Source: futard.io, launched 2026-02-03*

Hurupay: Global FX and payroll platform focused on the last mile of on-chain FX. Loved by 20K+ remote workers, freelancers & businesses.

**Traction (12 months):** $36M+ transaction volume, $500K+ revenue, 30,000+ users, 15 high-volume business customers. 4x transaction volume growth (32% month-over-month), scaled from $1.8M to $7.2M monthly volume.

**Team:** Philip Mburu (CEO), Allan Okoth (CTO), James Mugambi (COO), Maxwel Ochieng (Founding Engineer), Collins Wanga (Compliance Lead).

**Raise:** Target $3,000,000. Total committed: $2,003,593 (66.8%). Status: Refunding. Closed 2026-02-07.

**Token Allocation:** ICO 39.02%, liquidity 11.31%, team 42.66% (3-year lockup), previous investors 7% (2-year vest).

**Use of Funds:** Scale distribution/sales, expand sales/customer success, compliance/licensing (MTL, EU VASP), liquidity/FX depth, product expansion (cards, on-chain FX). Monthly spend: $250K. Revenue: ~0.5-2% fees on deposits/FX. Website: hurupay.com