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entities/internet-finance/hurupay-futardio-fundraise.md

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+---
+type: entity
+entity_type: decision_market
+name: "Hurupay: Futardio Fundraise"
+domain: internet-finance
+status: failed
+parent_entity: "[[hurupay]]"
+platform: futardio
+proposal_url: "https://www.futard.io/launch/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
+---
+
+# 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