auto-fix: address review feedback on PR #656
- Applied reviewer-requested changes - Quality gate pass (fix-from-feedback) Pentagon-Agent: Auto-Fix <HEADLESS>
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type: entity
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type: claim
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entity_type: decision_market
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...
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name: "Open Music: Futardio Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[open-music]]"
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platform: "futardio"
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proposal_url: "https://www.futard.io/launch/4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu"
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proposal_date: 2026-03-03
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resolution_date: 2026-03-04
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category: "fundraise"
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summary: "Artist-first streaming platform seeking $250K to build direct listener-to-artist payment model on Solana"
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tracked_by: rio
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created: 2026-03-11
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key_metrics:
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raise_target: "$250,000"
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total_committed: "$27,533"
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oversubscription_ratio: 0.11
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token_symbol: "4Hj"
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token_mint: "4HjXkVLJhURqVcJEjnHoWBSVv1AnCzQnZ9cW7LxTmeta"
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---
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# Open Music: Futardio Fundraise
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In the context of futarchy-governed liquidation, the enforcement mechanism ensures that ICOs are unruggable by allowing investors to force a full treasury return if teams materially misrepresent their projects. <!-- claim pending -->
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## Summary
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Open Music launched a futarchy-governed fundraise on Futardio seeking $250,000 to build an artist-first streaming platform that replaces Spotify's pro-rata pool model with direct listener-to-artist payments. The market failed to validate the project, raising only $27,533 (11% of target) before closing and entering refund status.
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## Market Data
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- **Outcome:** Failed (refunding)
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- **Raise Target:** $250,000
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- **Total Committed:** $27,533
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- **Oversubscription:** 0.11x
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- **Duration:** 1 day (2026-03-03 to 2026-03-04)
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## Significance
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Demonstrates futarchy-governed fundraising's ability to quickly invalidate projects that fail market validation, even when the pitch addresses a real problem (artist compensation in streaming). The 11% subscription rate suggests either insufficient market demand, lack of credibility in the team/execution plan, or broader skepticism about disrupting entrenched streaming platforms. The rapid refund (within 24 hours) shows the mechanism's efficiency at capital preservation when markets reject proposals.
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## Relationship to KB
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- [[open-music]] — parent entity
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- [[futardio]] — launch platform
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- [[futarchy-governed-liquidation-is-the-enforcement-mechanism-that-makes-unruggable-ICOs-credible-because-investors-can-force-full-treasury-return-when-teams-materially-misrepresent]] — refund mechanism in action
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- [[internet-capital-markets-compress-fundraising-timelines]] — 1-day fundraise cycle demonstrates speed
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