diff --git a/entities/internet-finance/fitbyte-futardio-launch.md b/entities/internet-finance/fitbyte-futardio-launch.md new file mode 100644 index 00000000..9251bf51 --- /dev/null +++ b/entities/internet-finance/fitbyte-futardio-launch.md @@ -0,0 +1,49 @@ +--- +type: entity +entity_type: decision_market +name: "FitByte: Futardio Fundraise" +domain: internet-finance +status: failed +parent_entity: "[[fitbyte]]" +platform: "futardio" +proposal_url: "https://www.futard.io/launch/8AsLQuzVHwAjiQa9pkgoPHkEy523X7gQYs9zJfMtiqi2" +proposal_date: 2026-02-26 +resolution_date: 2026-02-27 +category: "fundraise" +summary: "Health data sovereignty protocol attempting $500K raise through futarchy-governed ICO" +funding_target: "$500,000" +total_committed: "$23" +token_symbol: "6GF" +tracked_by: rio +created: 2026-03-11 +--- + +# FitByte: Futardio Fundraise + +## Summary + +FitByte attempted to raise $500,000 through Futardio's unruggable ICO mechanism for a health and fitness protocol combining workout-to-earn mechanics with health data sovereignty. The project positioned itself as returning value and control to users who generate health data, with a marketplace for consented data sharing with researchers and clinical trial operators. The fundraise failed catastrophically, raising only $23 (0.005% of target) before closing in refunding status after one day. + +## Market Data + +- **Outcome:** Failed (refunding) +- **Target:** $500,000 +- **Raised:** $23 +- **Duration:** 1 day (2026-02-26 to 2026-02-27) +- **Token:** 6GF +- **Platform:** Futardio v0.7 + +## Significance + +This represents one of the most severe capital rejection events on the Futardio platform, with a raise-to-target ratio of 0.005%. The failure suggests either fundamental skepticism about the health data sovereignty thesis, execution concerns about the team, or market saturation in the workout-to-earn category following previous failures in the space. + +The project's explicit alignment with MetaDAO's unruggable ICO principles (treasury governance, IP ownership by DAO LLC, performance-gated founder unlocks) was insufficient to attract capital, indicating that governance structure alone cannot overcome product-market fit concerns. + +Notably, the project's website link (henry.com) appears to be a placeholder or error, suggesting incomplete launch preparation that may have contributed to investor skepticism. + +## Relationship to KB + +- [[futardio]] — launch platform +- [[MetaDAO]] — governance infrastructure +- [[fitbyte]] — parent entity +- Demonstrates that [[futarchy-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control]] does not guarantee capital attraction when fundamentals are weak \ No newline at end of file diff --git a/entities/internet-finance/fitbyte.md b/entities/internet-finance/fitbyte.md new file mode 100644 index 00000000..5a6941f0 --- /dev/null +++ b/entities/internet-finance/fitbyte.md @@ -0,0 +1,32 @@ +--- +type: entity +entity_type: company +name: "FitByte" +domain: internet-finance +status: failed +platform: "futardio" +funding_target: "$500,000" +total_raised: "$23" +launch_date: 2026-02-26 +close_date: 2026-02-27 +outcome: "refunding" +tracked_by: rio +created: 2026-03-11 +--- + +# FitByte + +FitByte was a health and fitness protocol built on Solana that attempted to combine workout-to-earn mechanics with health data sovereignty and monetization. The project raised through MetaDAO's futarchy-governed ICO platform (Futardio) but failed to attract capital, raising only $23 against a $500,000 target before entering refunding status. + +The project's value proposition centered on four pillars: workout-to-earn token rewards tied to verified physical activity, user-owned health data with full sovereignty guarantees, a marketplace for users to sell consented health data to researchers and clinical trial operators, and broader health ecosystem integration connecting wearables and healthcare providers. + +## Timeline + +- **2026-02-26** — [[fitbyte-futardio-launch]] launched on Futardio with $500K target +- **2026-02-27** — Fundraise closed in refunding status with $23 raised (0.005% of target) + +## Relationship to KB + +- [[futardio]] — launch platform +- [[MetaDAO]] — governance infrastructure provider +- Failed to demonstrate product-market fit for health data sovereignty thesis despite alignment with [[Living Capital]] principles around user ownership \ No newline at end of file diff --git a/inbox/archive/2026-02-26-futardio-launch-fitbyte.md b/inbox/archive/2026-02-26-futardio-launch-fitbyte.md index 66c8ba89..49905179 100644 --- a/inbox/archive/2026-02-26-futardio-launch-fitbyte.md +++ b/inbox/archive/2026-02-26-futardio-launch-fitbyte.md @@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/8AsLQuzVHwAjiQa9pkgoPHkEy523X7gQYs9zJfMtiqi2" date: 2026-02-26 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: "Failed fundraise with trivial capital raised. No novel claims extractable — the failure itself is the data point. Created entity pages for FitByte company and its fundraise decision_market to document the outcome. The project's four-pillar value proposition (workout-to-earn, data sovereignty, data marketplace, ecosystem integration) is standard health-tech positioning without novel mechanism insight. The catastrophic failure rate (0.005%) is notable as a data point about futarchy-governed fundraising outcomes but does not generate new claims about the mechanism itself." --- ## Launch Details @@ -99,3 +103,10 @@ MetaDAO's Unruggable ICO model enforces what most projects only claim. Raise pro - Token mint: `6GFCEfiaBpX21D7vUe7LvHJXjNuc9q3e5nRwUz1Wmeta` - Version: v0.7 - Closed: 2026-02-27 + + +## Key Facts +- FitByte raised $23 against $500K target (0.005% success rate) on Futardio (2026-02-26 to 2026-02-27) +- FitByte token symbol: 6GF +- FitByte launch address: 8AsLQuzVHwAjiQa9pkgoPHkEy523X7gQYs9zJfMtiqi2 +- FitByte website listed as henry.com (likely placeholder/error)