diff --git a/domains/internet-finance/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.md b/domains/internet-finance/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.md
index c39617d1c..14b2eb4c1 100644
--- a/domains/internet-finance/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.md	
+++ b/domains/internet-finance/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.md	
@@ -76,6 +76,12 @@ MycoRealms launch on Futardio demonstrates MetaDAO platform capabilities in prod
 
 Futardio cult launch (2026-03-03 to 2026-03-04) demonstrates MetaDAO's platform supports purely speculative meme coin launches, not just productive ventures. The project raised $11,402,898 against a $50,000 target in under 24 hours (22,706% oversubscription) with stated fund use for 'fan merch, token listings, private events/partys'—consumption rather than productive infrastructure. This extends MetaDAO's demonstrated use cases beyond productive infrastructure (Myco Realms mushroom farm, $125K) to governance-enhanced speculative tokens, suggesting futarchy's anti-rug mechanisms appeal across asset classes.
 
+
+### Additional Evidence (extend)
+*Source: [[2026-03-04-futardio-launch-pli-crperie-ambulante]] | Added: 2026-03-11 | Extractor: anthropic/claude-sonnet-4.5*
+
+Pli Crêperie Ambulante (futard.io/MetaDAO's consumer brand, 2026-03-04, token 8Xq mint 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta) provides the first documented case of a traditional consumer business attempting futarchy fundraising on the platform. The project sought $350K for a Zürich crêpe food truck with detailed financials and roadmap but failed within one day (Refunding status 2026-03-05). The founder explicitly rejected crypto framing: 'I'm not going to pretend a crêpe truck needs a token to exist. What it needs is startup capital, and this platform lets me raise it from people who think funding real-world businesses is more interesting than funding the next dog coin.' The immediate failure suggests the platform's 'ownership coins at scale' value proposition may be limited to crypto-native or crypto-adjacent businesses, not traditional physical businesses using futarchy purely as capital formation alternative. This constrains the scope of 'ownership coins at scale'—the platform appears to attract and retain primarily crypto-native projects, not mainstream consumer businesses.
+
 ---
 
 Relevant Notes:
diff --git a/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md b/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md
index a69bad2ab..849377caa 100644
--- a/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md
+++ b/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md
@@ -36,6 +36,12 @@ This is the first implementation — no track record exists for futarchy-governe
 - Team performance unlocks tied to 2x/4x/8x/16x/32x token price with 18-month cliff — unproven alignment mechanism for physical operations with high operational burn
 - Tension between real-world operational requirements (fixed deadlines, vendor deposits) and futarchy's market-based approval process
 
+
+### Additional Evidence (extend)
+*Source: [[2026-03-04-futardio-launch-pli-crperie-ambulante]] | Added: 2026-03-11 | Extractor: anthropic/claude-sonnet-4.5*
+
+Pli Crêperie Ambulante (futard.io 2026-03-04, closed 2026-03-05) provides a contrasting failure case that refines understanding of what enables futarchy-governed physical infrastructure success. Pli sought $350K for a Zürich crêpe food truck with sound traditional business fundamentals: detailed budget breakdown (60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living, 15k buffer), three-phase roadmap (food truck months 1-12 → restaurant year 2 → franchise year 3+), experienced founder (Solutions Architect in tech), and validated market gap (430k+ Zürich residents, zero existing crêperie food trucks). Despite these strengths, the raise failed within one day. Key difference from Myco Realms' success: Pli founder explicitly rejected crypto-native framing ('This isn't a tech startup. There's no AI, no protocol, no flywheel diagram'), while Myco Realms embraced futarchy-governed infrastructure positioning. This suggests crypto-native framing may be necessary—not merely sufficient—for futarchy-governed physical infrastructure raises, and that traditional business fundamentals alone are insufficient without cultural alignment with futarchy participants.
+
 ---
 
 Relevant Notes:
diff --git a/domains/internet-finance/pli-creperie-futarchy-raise-failed-in-one-day-demonstrating-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md b/domains/internet-finance/pli-creperie-futarchy-raise-failed-in-one-day-demonstrating-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md
new file mode 100644
index 000000000..092bc4892
--- /dev/null
+++ b/domains/internet-finance/pli-creperie-futarchy-raise-failed-in-one-day-demonstrating-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md
@@ -0,0 +1,48 @@
+---
+type: claim
+domain: internet-finance
+description: "Futarchy-governed fundraising for traditional consumer food businesses without crypto-native framing fails immediately, suggesting futarchy requires either crypto-native business models or explicit embrace of crypto culture to attract sufficient market participation"
+confidence: experimental
+source: "Pli Crêperie Ambulante futard.io launch, 2026-03-04"
+created: 2026-03-11
+---
+
+# Futarchy-governed fundraising for non-crypto-native consumer businesses fails without crypto cultural framing
+
+Pli Crêperie Ambulante launched on futard.io on 2026-03-04 seeking $350,000 to fund a crêpe food truck in Zürich, reaching "Refunding" status and closing on 2026-03-05 after just one day. This represents the first documented attempt to use futarchy-governed fundraising for a traditional consumer food business positioned explicitly outside crypto culture.
+
+The founder deliberately rejected crypto-native framing, stating: "I'm going to be honest: this isn't a tech startup. There's no AI, no protocol, no flywheel diagram. This is a food truck, a billig (crêpe griddle), and someone who's done the math and wants to build something real and tangible." The pitch positioned futarchy purely as an alternative capital formation mechanism to traditional fundraising, not as part of a crypto ecosystem play. The founder further stated: "This isn't a meme coin. There's no liquidity pool strategy. I'm not going to pretend a crêpe truck needs a token to exist. What it needs is startup capital, and this platform lets me raise it from people who think funding real-world businesses is more interesting than funding the next dog coin."
+
+The one-day failure timeline suggests the futarchy market immediately priced the proposal as non-viable. This contrasts sharply with [[myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment|Myco Realms]], which successfully raised $125K for physical mushroom farm infrastructure through futarchy. The key difference: Myco Realms framed itself as "futarchy-governed physical infrastructure" and embraced the crypto-native context, while Pli explicitly distanced itself from crypto culture.
+
+Despite sound traditional business fundamentals, the raise failed:
+- Detailed budget breakdown: 60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living expenses, 15k buffer = ~219k CHF Phase 1
+- Three-phase roadmap: food truck (months 1-12), restaurant (year 2), franchise (year 3+)
+- Founder credentials: Solutions Architect in tech, based in Zürich
+- Market validation: Zürich has 430k+ residents and no dedicated crêperie food truck currently operating
+- Genuine market gap identified with 8-14 CHF price point offering strong margins on low ingredient costs
+
+The failure likely reflects:
+1. Lack of crypto-native value capture (no token utility beyond governance)
+2. Traditional business model with no network effects or scalability advantages from blockchain
+3. Founder explicitly rejecting the cultural framing that attracts futarchy participants
+4. No clear mechanism for token holders to benefit from success beyond generic "crêpes on the house"
+
+This single case suggests futarchy mechanisms may require either crypto-native business models or explicit embrace of crypto culture to attract sufficient market participation for viable fundraising, even when the underlying business case may be sound by traditional metrics. However, the failure could also reflect poor pitch execution, timing, or platform-specific factors rather than structural incompatibility.
+
+## Evidence
+- Launch address GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa on futard.io
+- Status: Refunding (closed 2026-03-05, one day after 2026-03-04 launch)
+- Target: $350,000 for Zürich crêperie food truck
+- Token: 8Xq (mint: 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta)
+- Founder quotes explicitly rejecting crypto framing
+
+---
+
+Relevant Notes:
+- [[myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment]]
+- [[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]]
+- [[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]]
+
+Topics:
+- [[domains/internet-finance/_map]]
diff --git a/entities/internet-finance/futardio.md b/entities/internet-finance/futardio.md
index 6cde081da..15be097da 100644
--- a/entities/internet-finance/futardio.md
+++ b/entities/internet-finance/futardio.md
@@ -44,6 +44,7 @@ MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless
 - **2026-02/03** — Launch explosion: Rock Game, Turtle Cove, VervePay, Open Music, SeekerVault, SuperClaw, LaunchPet, Seyf, Areal, Etnlio, and dozens more
 - **2026-03** — Ranger Finance liquidation proposal — first futarchy-governed enforcement action
 
+- **2026-03-04** — Pli Crêperie Ambulante launched seeking $350K for Zürich food truck, first documented traditional consumer business futarchy raise. Failed within one day (Refunding 2026-03-05), providing data point on platform's applicability boundaries for non-crypto-native businesses
 ## 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/pli-creperie.md b/entities/internet-finance/pli-creperie.md
new file mode 100644
index 000000000..1c586d29d
--- /dev/null
+++ b/entities/internet-finance/pli-creperie.md
@@ -0,0 +1,27 @@
+---
+type: entity
+entity_type: company
+name: Pli — Crêperie Ambulante
+domain: internet-finance
+status: failed
+tracked_by: rio
+created: 2026-03-11
+key_metrics:
+  raise_target: 350000
+  raise_currency: USD
+  raise_outcome: refunding
+  launch_platform: futard.io
+  token_symbol: 8Xq
+  duration_days: 1
+---
+
+# Pli — Crêperie Ambulante
+
+Traditional consumer food business (Zürich crêpe food truck) that attempted futarchy-governed fundraising on futard.io in March 2026. Failed within one day, representing the first documented case of a non-crypto-native consumer business attempting to use futarchy purely as capital formation alternative to traditional fundraising. Founder explicitly rejected crypto framing, positioning the raise as funding "something real and tangible" rather than a crypto project.
+
+## Timeline
+- **2026-03-04** — Launched on futard.io seeking $350,000 for Zürich crêperie food truck. Budget: 60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living, 15k buffer. Three-phase roadmap: food truck (months 1-12), restaurant (year 2), franchise (year 3+). Token: 8Xq (mint: 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta). Launch address: GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa
+- **2026-03-05** — Reached Refunding status and closed after one day. First documented consumer food business futarchy raise failure
+
+## Relationship to KB
+Provides critical negative data point on futarchy applicability boundaries. Contrasts with [[myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment|Myco Realms]] successful physical infrastructure raise, suggesting crypto-native framing may be necessary for futarchy fundraising success even when underlying business fundamentals are sound.
diff --git a/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md b/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md
index 790d9297b..d623698f7 100644
--- a/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md
+++ b/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md
@@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa"
 date: 2026-03-04
 domain: internet-finance
 format: data
-status: unprocessed
+status: processed
 tags: [futardio, metadao, futarchy, solana]
 event_type: launch
 processed_by: rio
@@ -14,6 +14,12 @@ processed_date: 2026-03-11
 enrichments_applied: ["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.md", "futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility.md", "myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md"]
 extraction_model: "anthropic/claude-sonnet-4.5"
 extraction_notes: "First documented consumer food business futarchy raise. Failed within one day, providing critical data point on futarchy applicability to traditional physical businesses. Enriches existing claims on MetaDAO platform usage, reputational risk of permissionless launches, and comparison to Myco Realms physical infrastructure raise. Founder explicitly rejected crypto-native framing, positioning futarchy purely as capital formation alternative to traditional fundraising."
+processed_by: rio
+processed_date: 2026-03-11
+claims_extracted: ["pli-creperie-futarchy-raise-failed-in-one-day-demonstrating-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md"]
+enrichments_applied: ["myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md", "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.md"]
+extraction_model: "anthropic/claude-sonnet-4.5"
+extraction_notes: "First documented consumer food business futarchy raise. Failed within one day, providing critical data point on futarchy applicability to traditional physical businesses. Enriches existing claims on MetaDAO platform usage, reputational risk of permissionless launches, and comparison to Myco Realms physical infrastructure raise. Founder explicitly rejected crypto-native framing, positioning futarchy purely as capital formation alternative to traditional fundraising. Single data point limits generalizability but rapid failure timeline suggests structural mismatch rather than execution issues."
 ---
 
 ## Launch Details
@@ -130,3 +136,13 @@ If that's you, welcome. Let's make crêpes.
 - Market context: Zürich 430k+ residents, no dedicated crêperie food truck currently operating
 - Token: 8Xq, mint address 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta
 - Launch address: GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa
+
+
+## Key Facts
+- Pli Crêperie target: $350,000 for Zürich crêpe food truck (2026-03-04)
+- Budget breakdown: 60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living, 15k buffer = ~219k CHF Phase 1
+- Zürich market: 430k+ residents, no existing dedicated crêperie food truck
+- Founder: Solutions Architect in tech, based in Zürich, not trained chef
+- Token: 8Xq, mint 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta
+- Launch address: GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa
+- Duration: One day (launched 2026-03-04, Refunding 2026-03-05)