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+---
+type: source
+title: "Futardio: Manna Finance fundraise goes live"
+author: "futard.io"
+url: "https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
+date: 2026-03-03
+domain: internet-finance
+format: data
+status: unprocessed
+tags: [futardio, metadao, futarchy, solana]
+event_type: launch
+---
+
+## Launch Details
+- Project: Manna Finance
+- Description: Lock SOL to mint solUSD at 0% interest rate.
+- Funding target: $120,000.00
+- Total committed: $205.00
+- Status: Refunding
+- Launch date: 2026-03-03
+- URL: https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5
+
+## Team / Description
+
+# Manna — Futard.io Raise Description
+
+> **"Borrow against your SOL. Keep the upside."**
+> Manna is a zero-interest CDP protocol on Solana. Deposit SOL, mint solUSD, pay once.
+
+---
+
+## What We're Building
+
+Manna is a Liquity V1-style Collateralized Debt Position (CDP) protocol on Solana. Users deposit SOL as collateral, mint **solUSD** (a decentralized stablecoin pegged to $1), and pay only a **one-time borrowing fee — no ongoing interest, ever.**
+
+The peg is maintained by two hard mechanisms:
+1. **Redemptions** — solUSD can always be exchanged for $1 of SOL, creating a hard floor.
+2. **Liquidations** — vaults below the minimum collateral ratio are liquidated via the Stability Pool, where stakers earn SOL at a discount.
+
+Governance will be launched via **MetaDAO** — full futarchy from day one. The market decides what's value-accretive.
+
+---
+
+## Market & Differentiation
+
+### Target Market
+
+| Segment | Pain Point | Manna's Answer |
+|---|---|---|
+| SOL holders | Want liquidity without selling | Borrow solUSD against SOL, zero interest |
+| Leveraged traders | Need cheap leverage on SOL | 125% min CR = max capital efficiency |
+| DeFi stablecoin users | Want a trust-minimized, decentralized USD | Non-custodial, no governance attack surface |
+| Stability Pool stakers | Want yield without impermanent loss risk | Earn SOL at a discount when liquidations happen |
+
+**Primary beachhead:** SOL holders with >10 SOL who want liquidity without triggering a taxable sell event. This is a large, underserved segment on Solana.
+
+### Competitive Edge
+
+| | **solUSD (Manna)** | **USX (Solstice)** | **USDv (Solomon)** | **jupUSD (Jupiter)** | **USDGO (OSL)** |
+|---|---|---|---|---|---|
+| **Mechanism** | CDP · overcollateralized | Delta-neutral synthetic | Yield-bearing backed | RWA-backed (BlackRock BUIDL + USDe) | Fiat-backed · regulated |
+| **Backing** | SOL (native) | BTC, ETH, SOL + perp shorts, stablecoins, tokenized treasuries | On-chain dollar yield strategies | 90% USDtb (BlackRock BUIDL), 10% USDe (Ethena) | USD deposits · KYC-gated |
+| **User gives up asset?** | ❌ Keep SOL exposure | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes |
+| **Ongoing Interest** | ✅ None | N/A | N/A | N/A | N/A |
+| **Minting** | Permissionless (open to all) | Permissioned (institutions only) via DEX otherwise | Permissionless | Permissionless | Permissioned (KYC required) |
+| **Decentralized** | ✅ Fully | ⚠️ Hybrid (custody: Copper + Ceffu) | ⚠️ Partial | ⚠️ Partial (backed by centralized instruments) | ❌ No |
+| **Hard $1 Floor** | ✅ On-chain redemptions | ⚠️ Soft (institutional redemptions) | ⚠️ Soft | ⚠️ Soft | ✅ Fiat-backed |
+| **SOL upside retained** | ✅ Full | ❌ | ❌ | ❌ | ❌ |
+| **Governance** | MetaDAO (Futarchy) | None | Unknown | JUP DAO | Centralized |
+| **Status** | Launching 2026 | Live (Sept 2025) · Largest Solana-native stablecoin | Live | Live (Jan 2026) | Live (Feb 2026) |
+
+**Manna's moat:**
+- **0% interest** — nobody on Solana offers this. The entire borrow cost is the one-time fee (0.5% base).
+- **Solana-native speed and cost** — transactions settle in 400ms at <$0.01.
+- **Futarchy governance** — the only CDP on Solana governed by prediction markets, not a multisig or token vote.
+- **SOL-only collateral** — simplicity is a security property. No oracle complexity, no multi-asset liquidation cascades.
+
+### Go-To-Market
+
+**Phase 1 — Core DeFi users (Months 1–3 post-launch)**
+- Target: power users on Jupiter, Kamino, and MarginFi looking for a cheaper borrow
+- Channels: X/Twitter, Solana DeFi Twitter community, MetaDAO community
+- Metric: $5M TVL
+
+**Phase 2 — Stability Pool TVL (Months 3–6)**
+- Target: solUSD holders seeking yield; integrate solUSD into Orca/Raydium pools
+- Channels: integrations, liquidity mining incentives from protocol revenue
+- Metric: $2M in Stability Pool
+
+**Phase 3 — solUSD adoption as collateral (Months 6–12)**
+- Target: get solUSD listed as collateral on MarginFi, Drift, or Kamino
+- Channel: DAO-to-DAO proposals via MetaDAO governance
+- Metric: solUSD circulating supply >$10M
+
+---
+
+## Use of Funds
+
+**Raise Target: $120,000 USDC**
+**Runway: 12 months**
+**Monthly Spend Limit (onchain enforced): $10,000/mo**
+
+### Monthly Burn Breakdown
+
+| Category | Monthly Cost | % of Burn | Notes |
+|---|---|---|---|
+| **Core Team** | $7,000 | 70% | 1 full-time founder + part-time contributor |
+| **Infrastructure** | $1,000 | 10% | RPC nodes (Helius), monitoring (Datadog), VPS, domains |
+| **Marketing & Community** | $1,500 | 15% | X ads, KOL outreach, content, bounties |
+| **Security & Legal** | $500 | 5% | Audit prep, Cayman entity maintenance, bug bounty fund |
+| **Total** | **$10,000** | **100%** | |
+
+**Runway math:** $120,000 ÷ $10,000/mo = **12 months**
+
+### What this raise specifically funds:
+1. **Smart contract security audit** — estimated $15,000–25,000
+2. **Mainnet deployment and monitoring** for the first 3 months
+3. **Founder runway** to work full-time on the protocol without distraction
+4. **Liquidity bootstrapping** — initial Stability Pool seed to ensure liquidations work at launch
+
+---
+
+## Roadmap & Milestones
+
+### ✅ Already Done
+- Core protocol design and architecture
+- Anchor/Rust smart contracts: 11 instructions (open_vault, borrow, repay, liquidate, redeem, stability pool, and more)
+- TypeScript SDK and test suite
+- Landing page (manna.finance) and brand identity
+
+### 🔨 Month 1 — Audit Preparation (April 2026)
+- [ ] Fix known issues: Pyth oracle integration, base rate decay optimization, redistribution logic
+- [ ] Internal security review and fuzz testing
+- [ ] Submit to Ottersec or OShield for audit
+- [ ] Devnet deployment open to public testers
+
+### 🔨 Month 2–3 — Audit & Fixes (May 2026)
+- [ ] Receive audit report
+- [ ] Fix all critical and high findings
+- [ ] Publish audit report publicly
+- [ ] Final devnet testnet period (2 weeks minimum)
+
+### 🚀 Month 4 — Mainnet Launch (June 2026)
+- [ ] Mainnet deployment on Solana
+- [ ] Protocol TVL cap at $1M for first 4 weeks (safety)
+- [ ] Stability Pool live and open
+- [ ] solUSD trading pair on Orca
+
+### 📈 Month 5–6 — Growth (July–August 2026)
+- [ ] Remove TVL cap after 30 days incident-free
+- [ ] Token launch preparation via MetaDAO
+- [ ] First DAO governance proposals
+- [ ] Integration proposals to MarginFi / Kamino
+
+### 🏛 Month 7–12 — DAO Transition (September 2026+)
+- [ ] Full MetaDAO futarchy governance live
+- [ ] Governance token distributed to Stability Pool stakers, borrowers, and raise participants
+- [ ] Protocol revenue split: 50% to Stability Pool, 50% to DAO treasury
+- [ ] V2 planning: additional collateral types (mSOL, JitoSOL) via DAO vote
+
+---
+
+## Why Futard.io
+
+Manna's governance model is built on futarchy — the same philosophy powering Futard.io and MetaDAO. This isn't just a funding round; it's the first step in building a DAO that governs a real protocol by prediction markets.
+
+Raise participants will have **onchain governance exposure** to every major protocol decision — not through token votes that can be gamed, but through decision markets where the market price signals what's actually value-accretive.
+
+We're not pitching to VCs. We're raising from the community that will use and govern the protocol.
+
+---
+
+*Manna Protocol — manna.finance*
+*Built on Solana. Governed by futarchy.*
+
+
+## Links
+
+- Website: https://manna.finance/
+- Twitter: https://x.com/MannaFinance
+
+## Raw Data
+
+- Launch address: `5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5`
+- Token: DQu (DQu)
+- Token mint: `DQuz3AeodGAoyXV5MG56F1ZqvgRpn1VhFwFskW6Jmeta`
+- Version: v0.7
+- Closed: 2026-03-04