diff --git a/entities/internet-finance/cloak-futardio-fundraise.md b/entities/internet-finance/cloak-futardio-fundraise.md new file mode 100644 index 00000000..ed825dce --- /dev/null +++ b/entities/internet-finance/cloak-futardio-fundraise.md @@ -0,0 +1,62 @@ +--- +type: entity +entity_type: decision_market +name: "Cloak: Futardio Fundraise" +domain: internet-finance +status: failed +parent_entity: "[[cloak]]" +platform: futardio +proposal_url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R" +proposal_date: 2026-03-03 +resolution_date: 2026-03-04 +category: fundraise +summary: "Cloak attempted to raise $300K for privacy DCA infrastructure on Solana but attracted only $1,455 in commitments before automatic refund" +key_metrics: + raise_target: "$300,000" + total_committed: "$1,455" + success_rate: "0.49%" + token_offered: "10,000,000 8RS (62.9% of supply)" + ico_price: "$0.03" + team_monthly_allowance: "$10,000" + runway_target: "24 months" +tracked_by: rio +created: 2026-03-11 +--- + +# Cloak: Futardio Fundraise + +## Summary +Cloak launched a futarchy-governed fundraise on Futardio seeking $300K to build privacy-focused DCA infrastructure on Solana. The protocol promised ZK-proof privacy pools, unlinkable session wallets, and integration with Jupiter for anonymous asset accumulation. Despite technical sophistication and first-mover positioning in private DCA, the raise attracted only $1,455 in 24 hours (0.49% of target), triggering automatic refund under Futardio's all-or-nothing mechanism. + +## Market Data +- **Outcome:** Failed (refunded) +- **Raise Target:** $300,000 +- **Total Committed:** $1,455 +- **Success Rate:** 0.49% +- **Duration:** 24 hours (2026-03-03 to 2026-03-04) +- **Token Economics:** 15.9M total supply, 10M offered at $0.03 (62.9% allocation), $477K FDV +- **Team Structure:** 2 founders, $10K/month allowance, 3M performance-locked tokens (18.9%) + +## Significance +This represents one of the most severe fundraise failures on Futardio's platform — raising less than 0.5% of target despite: +- Clear technical execution (live mainnet beta) +- Legitimate privacy use case (MEV protection, surveillance resistance) +- First-mover advantage in privacy DCA category +- Credible team (repeat builders, Superteam contributors) +- Reasonable valuation ($477K FDV) + +The failure suggests either: +1. Privacy DCA market demand is far smaller than assumed +2. Futardio's 24-hour window is insufficient for complex infrastructure raises +3. The $300K target was misaligned with demonstrated traction ($1,455 suggests ~$50K realistic ceiling) +4. Retail-focused privacy narrative doesn't resonate when institutional clients (the actual market) aren't visible + +Notably, Cloak had shipped product, integrated multiple protocols (Privacy.cash, Jupiter, Oro), and achieved technical milestones that typically signal fundability. The disconnect between execution and capital attraction is significant for understanding futarchy-governed fundraising dynamics. + +## Relationship to KB +- [[cloak]] — parent entity +- [[futardio]] — fundraising platform +- [[MetaDAO]] — futarchy infrastructure provider +- [[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]] — this failure tests Futardio's brand resilience +- [[internet-capital-markets-compress-fundraising-timelines]] — 24-hour window may be too compressed for infrastructure raises +- Demonstrates limits of [[ownership-coin-treasuries-should-be-actively-managed-through-buybacks-and-token-sales-as-continuous-capital-calibration-not-treated-as-static-war-chests]] when initial raise fails entirely \ No newline at end of file diff --git a/entities/internet-finance/cloak.md b/entities/internet-finance/cloak.md new file mode 100644 index 00000000..2f1617c4 --- /dev/null +++ b/entities/internet-finance/cloak.md @@ -0,0 +1,39 @@ +--- +type: entity +entity_type: company +name: Cloak +domain: internet-finance +status: failed +founded: 2026 +platform: solana +key_metrics: + raise_target: "$300,000" + total_committed: "$1,455" + raise_outcome: "refunded" + token_symbol: "8RS" + ico_price: "$0.03" + fdv_at_launch: "$477,000" + total_supply: "15,900,000" + ico_allocation: "10,000,000 (62.9%)" + liquidity_allocation: "2,900,000 (18.2%)" + team_allocation: "3,000,000 (18.9%, performance-locked)" +tracked_by: rio +created: 2026-03-11 +--- + +# Cloak + +Cloak is a privacy-focused DCA (dollar-cost averaging) protocol on Solana that enables traders to accumulate assets anonymously using ZK-proof privacy pools. The protocol routes trades through unlinkable session wallets to break the on-chain connection between user wallets and trading strategies. Cloak raised via Futardio's futarchy-governed ICO mechanism but failed to reach its $300K target, raising only $1,455 before refunding. + +## Timeline +- **2026-03-03** — [[cloak-futardio-fundraise]] launched on Futardio with $300K target, offering private DCA into SOL, cbBTC, and ZEC with Privacy.cash ZK-proof integration +- **2026-03-04** — Fundraise closed with $1,455 committed (0.49% of target), triggering automatic refund; first RWA integration with Oro (tokenized gold) announced during raise + +## Relationship to KB +- [[futardio]] — fundraising platform +- [[MetaDAO]] — futarchy governance infrastructure +- [[privacy-cash]] — ZK-proof privacy pool provider +- [[Jupiter]] — DEX aggregator for trade execution +- [[Oro]] — first RWA integration partner (tokenized gold) +- Product demonstrates [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] failure mode when value proposition unclear +- Architecture relevant to privacy DeFi and institutional on-chain trading use cases \ No newline at end of file diff --git a/entities/internet-finance/futardio.md b/entities/internet-finance/futardio.md index 3939e101..409f4ead 100644 --- a/entities/internet-finance/futardio.md +++ b/entities/internet-finance/futardio.md @@ -46,6 +46,7 @@ MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless - **2026-03-07** — Areal DAO launch: $50K target, raised $11,654 (23.3%), REFUNDING status by 2026-03-08 — first documented failed futarchy-governed fundraise on platform - **2026-03-04** — [[seekervault]] fundraise launched targeting $75,000, closed next day with only $1,186 (1.6% of target) in refunding status +- **2026-03-03** — [[cloak-futardio-fundraise]] launched seeking $300K for privacy DCA infrastructure; failed with $1,455 raised (0.49% of target), triggering automatic refund ## Competitive Position - **Unique mechanism**: Only launch platform with futarchy-governed accountability and treasury return guarantees - **vs pump.fun**: pump.fun is memecoin launch (zero accountability, pure speculation). Futardio is ownership coin launch (futarchy governance, treasury enforcement). Different categories despite both being "launch platforms." diff --git a/entities/internet-finance/oro.md b/entities/internet-finance/oro.md new file mode 100644 index 00000000..d67a9e54 --- /dev/null +++ b/entities/internet-finance/oro.md @@ -0,0 +1,24 @@ +--- +type: entity +entity_type: company +name: Oro +domain: internet-finance +status: active +platform: solana +product_type: rwa_tokenization +asset_class: gold +tracked_by: rio +created: 2026-03-11 +--- + +# Oro + +Oro is a tokenized gold protocol on Solana, representing the first real-world asset (RWA) integration for privacy-focused DCA infrastructure. The protocol enables on-chain gold accumulation with automated DCA from leftover trade change. + +## Timeline +- **2026-03-03** — Announced as first RWA integration partner for [[cloak]], positioning as private distribution layer for tokenized gold on Solana + +## Relationship to KB +- [[cloak]] — first privacy DCA integration +- Demonstrates [[areal-targets-smb-rwa-tokenization-as-underserved-market-versus-equity-and-large-financial-instruments]] expansion into precious metals +- RWA tokenization relevant to institutional on-chain asset accumulation use cases \ No newline at end of file diff --git a/entities/internet-finance/prasad.md b/entities/internet-finance/prasad.md new file mode 100644 index 00000000..110266f2 --- /dev/null +++ b/entities/internet-finance/prasad.md @@ -0,0 +1,27 @@ +--- +type: entity +entity_type: person +name: Prasad +domain: internet-finance +roles: + - founder + - engineer +affiliations: + - Stealth + - PermaSign + - Superteam +tracked_by: rio +created: 2026-03-11 +--- + +# Prasad + +Prasad is co-founder of [[cloak]], a privacy DCA protocol on Solana. Founding Engineer at Stealth, previously co-founded PermaSign, and contributed to Superteam. Led Cloak's Blinks integration, institutional API routes, and backend infrastructure. + +## Timeline +- **2026-03-03** — Co-founded [[cloak]], launched [[cloak-futardio-fundraise]] on Futardio (failed with $1,455 raised vs $300K target) + +## Relationship to KB +- [[cloak]] — co-founder focused on API and backend +- [[futardio]] — used platform for fundraising attempt +- Solana ecosystem builder with institutional infrastructure focus \ No newline at end of file diff --git a/entities/internet-finance/privacy-cash.md b/entities/internet-finance/privacy-cash.md new file mode 100644 index 00000000..99fd7164 --- /dev/null +++ b/entities/internet-finance/privacy-cash.md @@ -0,0 +1,23 @@ +--- +type: entity +entity_type: company +name: Privacy.cash +domain: internet-finance +status: active +platform: solana +product_type: privacy_infrastructure +tracked_by: rio +created: 2026-03-11 +--- + +# Privacy.cash + +Privacy.cash provides ZK-proof privacy pool infrastructure on Solana, enabling protocols to offer cryptographically unlinkable deposits and withdrawals. The protocol uses commitment-based deposits where ownership is provably hidden, allowing downstream applications to build privacy-preserving financial products. + +## Timeline +- **2026-03-03** — Integrated by [[cloak]] for privacy DCA infrastructure, providing the ZK-proof layer for unlinkable session wallet architecture + +## Relationship to KB +- [[cloak]] — first known integration for privacy DCA +- Provides infrastructure relevant to [[futarchy-based fundraising creates regulatory separation]] through privacy-preserving capital flows +- ZK-proof privacy pools address surveillance concerns from Arkham Intelligence and Nansen tracking \ No newline at end of file diff --git a/entities/internet-finance/vaibhav.md b/entities/internet-finance/vaibhav.md new file mode 100644 index 00000000..836e47c1 --- /dev/null +++ b/entities/internet-finance/vaibhav.md @@ -0,0 +1,29 @@ +--- +type: entity +entity_type: person +name: Vaibhav +domain: internet-finance +roles: + - founder + - engineer +affiliations: + - CoinDCX + - PermaSign + - Superteam + - Instadapp + - Push Chain +tracked_by: rio +created: 2026-03-11 +--- + +# Vaibhav + +Vaibhav is co-founder of [[cloak]], a privacy DCA protocol on Solana. Engineer at CoinDCX, previously co-founded PermaSign, and contributed to Superteam. Early engineer at Instadapp and Push Chain. Built Cloak's ZK privacy pool integration, keeper execution engine, session wallet architecture, frontend, and API layer. + +## Timeline +- **2026-03-03** — Co-founded [[cloak]], launched [[cloak-futardio-fundraise]] on Futardio (failed with $1,455 raised vs $300K target) + +## Relationship to KB +- [[cloak]] — co-founder and primary engineer +- [[futardio]] — used platform for fundraising attempt +- Solana ecosystem builder with privacy infrastructure focus \ No newline at end of file diff --git a/inbox/archive/2026-03-03-futardio-launch-cloak.md b/inbox/archive/2026-03-03-futardio-launch-cloak.md index 9615b383..915830db 100644 --- a/inbox/archive/2026-03-03-futardio-launch-cloak.md +++ b/inbox/archive/2026-03-03-futardio-launch-cloak.md @@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R" date: 2026-03-03 domain: internet-finance format: data -status: unprocessed +status: processed tags: [futardio, metadao, futarchy, solana] event_type: launch +processed_by: rio +processed_date: 2026-03-11 +extraction_model: "anthropic/claude-sonnet-4.5" +extraction_notes: "Cloak fundraise is a significant failure case for Futardio — sophisticated technical execution, legitimate use case, credible team, but catastrophic capital attraction (0.49% of target). No novel claims extracted because the failure itself is the data point. Entity structure captures the fundraise mechanics, team composition, and technical integrations. Privacy.cash and Oro added as new entities due to first-known integrations. Vaibhav and Prasad added as founders with relevant background. This is primarily an entity data extraction with high significance for understanding futarchy-governed fundraising limits." --- ## Launch Details @@ -217,3 +221,13 @@ Worst case: the first and only private DCA product on Solana, used by whales who - Token mint: `8RSpKqJFeF6ipThWDXP284mE2ufmfeHwjdEjduQ2meta` - Version: v0.7 - Closed: 2026-03-04 + + +## Key Facts +- Cloak raised $1,455 of $300K target (0.49% success rate) on Futardio before automatic refund (2026-03-03 to 2026-03-04) +- Cloak offered 10M tokens at $0.03 ICO price with $477K FDV and 15.9M total supply +- Cloak team structure: 2 founders, $10K/month allowance, 3M performance-locked tokens (18.9% of supply) +- Cloak integrated Privacy.cash for ZK-proof privacy pools, Jupiter for DEX execution, and Oro for tokenized gold DCA +- Cloak team allocation unlocks at 2x, 4x, 8x, 16x, 32x ICO price ($0.06, $0.12, $0.24, $0.48, $0.96) with 18-month cliff and 3-month TWAP settlement +- MEV extraction on Solana estimated at $370M-$500M over 16 months (mid-2025) with DCA orders as primary target +- Cloak estimated whale DCA information leakage cost at $10K-$40K/month on $500K/month volume vs $1,250 Cloak fee (0.25%)