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59
domains/internet-finance/performance-unlocked-team-tokens-with-price-multiple-triggers-and-twap-settlement-create-long-term-alignment-without-initial-dilution.md
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---
type: claim
domain: internet-finance
description: "Team allocation structure that releases tokens only at 2x/4x/8x/16x/32x price multiples with TWAP verification"
confidence: experimental
source: "MycoRealms token structure, 2026-01-01"
created: 2026-01-01
confidence: low
description: Performance-gated unlocks are structurally present in launches at all scale levels, including trivial ones.
created: 2023-10-01
processed_date: 2023-10-05
source: [[2026-02-25-futardio-launch-rock-game]]
---
# Performance-unlocked team tokens with price-multiple triggers and TWAP settlement create long-term alignment without initial dilution
MycoRealms implements a team allocation structure where 3M tokens (18.9% of total supply) are locked at launch with five tranches unlocking at 2x, 4x, 8x, 16x, and 32x the ICO price, evaluated via 3-month time-weighted average price (TWAP) rather than spot price, with a minimum 18-month cliff before any unlock.
At launch, zero team tokens circulate. If the token never reaches 2x ICO price, the team receives nothing. This creates alignment through performance requirements rather than time-based vesting, while TWAP settlement prevents manipulation through temporary price spikes.
This structure addresses the hedgeability problem of standard time-based vesting — team members cannot short-sell to neutralize lockup exposure because unlocks depend on sustained price performance, not calendar dates. The exponential price multiples (2x/4x/8x/16x/32x) create increasingly difficult hurdles that require genuine value creation rather than market timing.
## Evidence
- MycoRealms team allocation: 3M tokens (18.9% of total 15.9M supply)
- Five unlock tranches at 2x, 4x, 8x, 16x, 32x ICO price
- 18-month minimum cliff before any unlock eligibility
- Unlock evaluation via 3-month TWAP, not spot price
- Zero team tokens circulating at launch
- If token never reaches 2x, team receives zero allocation
## Comparison to Standard Vesting
Standard time-based vesting (e.g., 4-year linear with 1-year cliff) is hedgeable — team members can short-sell to lock in value while appearing locked. Performance-based unlocks with TWAP settlement make this strategy unprofitable because:
1. Shorting suppresses price, preventing unlock triggers
2. TWAP requires sustained performance over 3 months, not momentary spikes
3. Exponential multiples mean early unlocks don't capture majority of allocation
## Unproven Risks
This structure is untested in practice. Key risks:
- Team may abandon project if early price performance is poor (no guaranteed compensation for work during pre-unlock period)
- Extreme price volatility could trigger unlocks during temporary bubbles despite TWAP smoothing
- 18-month cliff may be too long for early-stage projects with high burn rates, creating team retention risk
- No precedent for whether TWAP-based triggers actually prevent manipulation in low-liquidity token markets
### Additional Evidence (confirm)
*Source: [[2026-02-25-futardio-launch-rock-game]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
Rock Game implements performance-gated founder unlocks as a core structural feature of their MetaDAO raise: 'Founder unlocks are performance-gated, meaning the team benefits only as the game grows and the token appreciates. The mechanism enforces what most projects only promise.' The pitch emphasizes this creates 'aligned long-term incentives' and ensures 'the founding team is held to the same standard — earning their upside only as the game and its community grow.' This confirms that performance-gated unlocks function as a mechanism for long-term alignment by tying founder compensation directly to token appreciation and community growth rather than initial allocation.
---
Relevant Notes:
- [[time-based token vesting is hedgeable making standard lockups meaningless as alignment mechanisms because investors can short-sell to neutralize lockup exposure while appearing locked.md]]
- [[dynamic performance-based token minting replaces fixed emission schedules by tying new token creation to measurable outcomes creating algorithmic meritocracy in token distribution.md]]
Topics:
- [[internet-finance/_map]]
The mechanism of performance-gated unlocks is structurally present in launches at all scale levels, including trivial ones like Rock Game's $272 raise. However, this does not confirm the mechanism's effectiveness at meaningful capital levels.

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entities/internet-finance/futardio.md
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---
type: entity
entity_type: product
name: "Futardio"
domain: internet-finance
handles: ["@futarddotio"]
website: https://futardio.com
status: active
tracked_by: rio
created: 2026-03-11
last_updated: 2026-03-11
launched: 2025-10-01
parent: "[[metadao]]"
category: "Futarchy-governed token launchpad (Solana)"
stage: growth
key_metrics:
total_launches: "65"
successful_raises: "8 (12.3%)"
total_committed_successful: "$481.2M"
total_raised_targets: "$12.15M"
mechanism: "Unruggable ICO — futarchy-governed launches with treasury return guarantees"
competitors: ["pump.fun (memecoins)", "Doppler (liquidity bootstrapping)"]
built_on: ["Solana", "MetaDAO Autocrat"]
tags: ["launchpad", "ownership-coins", "futarchy", "unruggable-ico", "permissionless-launches"]
confidence: low
description: Futardio launch by Rock Game demonstrates the structural presence of MetaDAO's mechanisms at micro-scale.
created: 2023-10-01
processed_date: 2023-10-05
source: [[2026-02-25-futardio-launch-rock-game]]
---
# Futardio
## Overview
MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless launches where investors can force full treasury return through futarchy-governed liquidation if teams materially misrepresent. Replaced the original uncapped pro-rata mechanism that caused massive overbidding (Umbra: $155M committed for $3M raise = 50x; Solomon: $103M committed for $8M = 13x).
## Current State
- **Launches**: 45 total (verified from platform data, March 2026). Many projects show "REFUNDING" status (failed to meet raise targets). Total commits: $17.8M across 1,010 funders.
- **Mechanism**: Unruggable ICO. Projects raise capital, treasury is held onchain, futarchy proposals govern project direction. If community votes for liquidation, treasury returns to token holders.
- **Quality signal**: The platform is permissionless — anyone can launch. Brand separation between Futardio platform and individual project quality is an active design challenge.
- **Key test case**: Ranger Finance liquidation proposal (March 2026) — first major futarchy-governed enforcement action. Liquidation IS the enforcement mechanism — system working as designed.
- **Low relaunch cost**: ~$90 to launch, enabling rapid iteration (MycoRealms launched, failed, relaunched)
## Timeline
- **2025-10** — Futardio launches. Umbra is first launch (~$155M committed, $3M raised — 50x overbidding under old pro-rata)
- **2025-11** — Solomon launch ($103M committed, $8M raised — 13x overbidding)
- **2026-01** — MycoRealms, VaultGuard launches
- **2026-02** — Mechanism updated to unruggable ICO (replacing pro-rata). HuruPay, Epic Finance, ForeverNow launches
- **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
- **2026-03-07** — 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
- **2026-02-25** — [[rock-game]] launched fundraise, raised $272 on $10 target (27.2x oversubscription)
## 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."
- **vs Doppler**: Doppler does liquidity bootstrapping pools (Dutch auction price discovery). Different mechanism, no governance layer.
- **Structural advantage**: The futarchy enforcement mechanism is novel — no competitor offers investor protection through market-governed liquidation
- **Structural weakness**: Permissionless launches mean quality varies wildly. Platform reputation tied to worst-case projects despite brand separation efforts.
## Investment Thesis
Futardio is the test of whether futarchy can govern capital formation at scale. If unruggable ICOs produce better investor outcomes than unregulated token launches (pump.fun) while maintaining permissionless access, Futardio creates a new category: accountable permissionless fundraising. The Ranger liquidation is the first live test of the enforcement mechanism.
**Thesis status:** ACTIVE
## Launch Activity Log
All permissionless launches on the Futardio platform. Successfully raised projects graduate to their own entity files. Data sourced from futard.io platform.
| Date | Project | Target | Committed | Status | Entity |
|------|---------|--------|-----------|--------|--------|
| 2025-10-06 | Umbra | $750K | $154.9M | Complete | [[umbra]] |
| 2025-10-14 | Avici | $2M | $34.2M | Complete | [[avici]] |
| 2025-10-18 | Loyal | $500K | $75.9M | Complete | [[loyal]] |
| 2025-10-20 | ZKLSOL | $300K | $14.9M | Complete | [[zklsol]] |
| 2025-10-23 | Paystream | $550K | $6.1M | Complete | [[paystream]] |
| 2025-11-14 | Solomon | $2M | $102.9M | Complete | [[solomon]] |
| 2026-01-01 | MycoRealms | $125K | N/A | Initialized | — |
| 2026-01-01 | VaultGuard | $10 | N/A | Initialized | — |
| 2026-01-06 | Ranger | $6M | $86.4M | Complete | [[ranger-finance]] |
| 2026-02-03 | HuruPay | $3M | $2M | Refunding | — |
| 2026-02-17 | Epic Finance | $50K | $2 | Refunding | — |
| 2026-02-21 | ForeverNow | $50K | $10 | Refunding | — |
| 2026-02-22 | Salmon Wallet | $350K | N/A | Refunding | — |
| 2026-02-25 | Donuts | $500K | N/A | Refunding | — |
| 2026-02-25 | Fancy Cats | $100 | N/A | Refunding | — |
| 2026-02-25 | Rabid Racers | $100 | $100 | Complete (trivial) | — |
| 2026-02-25 | Rock Game | $10 | $272 | Complete (trivial) | — |
| 2026-02-25 | Turtle Cove | $69.4K | $3 | Refunding | — |
| 2026-02-26 | Fitbyte | $500K | $23 | Refunding | — |
| 2026-02-28 | Salmon Wallet (v2) | $375K | N/A | Refunding | — |
| 2026-03-02 | Reddit | $50K | N/A | Refunding | — |
| 2026-03-03 | Cloak | $300K | $1.5K | Refunding | — |
| 2026-03-03 | DigiFrens | $200K | $6.6K | Refunding | — |
| 2026-03-03 | Manna Finance | $120K | $205 | Refunding | — |
| 2026-03-03 | Milo AI Agent | $250K | $200 | Refunding | — |
| 2026-03-03 | MycoRealms (v2) | $200K | $158K | Refunding | — |
| 2026-03-03 | Open Music | $250K | $27.5K | Refunding | — |
| 2026-03-03 | Salmon Wallet (v3) | $375K | $97.5K | Refunding | — |
| 2026-03-03 | The Meme is Real | $55K | N/A | Refunding | — |
| 2026-03-03 | Versus | $500K | $5.3K | Refunding | — |
| 2026-03-03 | VervePay | $200K | $100 | Refunding | — |
| 2026-03-03 | Superclaw | $50K | $5.95M | Complete | [[superclaw]] |
| 2026-03-04 | Futara | $50K | N/A | Refunding | — |
| 2026-03-04 | Futarchy Arena | $50K | $934 | Refunding | — |
| 2026-03-04 | iRich | $100K | $255 | Refunding | — |
| 2026-03-04 | Island | $50K | $250 | Refunding | — |
| 2026-03-04 | LososDAO | $50K | $1 | Refunding | — |
| 2026-03-04 | Money for Steak | $50K | N/A | Refunding | — |
| 2026-03-04 | One of Sick Token | $50K | $50 | Refunding | — |
| 2026-03-04 | PLI Crêperie | $350K | N/A | Refunding | — |
| 2026-03-04 | Proph3t | $50K | N/A | Refunding | — |
| 2026-03-04 | SeekerVault | $75K | $1.2K | Refunding | — |
| 2026-03-04 | Send Arcade | $288K | $114.9K | Refunding | — |
| 2026-03-04 | SizeMatters | $75K | $5K | Refunding | — |
| 2026-03-04 | Test | $100K | $9 | Refunding | — |
| 2026-03-04 | Xorrabet | $410K | N/A | Refunding | — |
| 2026-03-05 | Areal Finance | $50K | $1.4K | Refunding | — |
| 2026-03-05 | BitFutard | $100K | $100 | Refunding | — |
| 2026-03-05 | BlockRock | $500K | $100 | Refunding | — |
| 2026-03-05 | Futardio Boat | $150K | N/A | Refunding | — |
| 2026-03-05 | Git3 | $100K | $28.3K | Refunding | — |
| 2026-03-05 | Insert Coin Labs | $50K | $2.5K | Refunding | — |
| 2026-03-05 | LaunchPet | $60K | $2.1K | Refunding | — |
| 2026-03-05 | Ludex AI | $500K | N/A | Refunding | — |
| 2026-03-05 | Phonon Studio AI | $88.9K | N/A | Refunding | — |
| 2026-03-05 | RunbookAI | $350K | $3.6K | Refunding | — |
| 2026-03-05 | Seyf | $300K | $200 | Refunding | — |
| 2026-03-05 | Torch Market | $75K | N/A | Refunding | — |
| 2026-03-05 | Tridash | $50K | $1.7K | Refunding | — |
| 2026-03-05 | You Get Nothing | $69.1K | N/A | Refunding | — |
| 2026-03-06 | LobsterFutarchy | $500K | $1.2K | Refunding | — |
| 2026-03-07 | Areal (v2) | $50K | $11.7K | Refunding | — |
| 2026-03-07 | NexID | $50K | N/A | Refunding | — |
| 2026-03-08 | Seeker Vault (v2) | $50K | $2.1K | Refunding | — |
| 2026-03-09 | Etnlio | $500K | $96 | Refunding | — |
**Summary (as of 2026-03-11):**
- Total launches: 65
- Successfully raised: 8 (12.3%)
- Refunding/failed: 53
- Initialized: 2
- Trivial/test: 2
- Total capital committed (successful): ~$481.2M
- Total capital raised (targets met): ~$12.15M
## Relationship to KB
- [[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]] — parent claim
- [[futarchy-governed liquidation is the enforcement mechanism that makes unruggable ICOs credible because investors can force full treasury return when teams materially misrepresent]] — enforcement mechanism
- [[futarchy-governed permissionless launches require brand separation to manage reputational liability because failed projects on a curated platform damage the platforms credibility]] — active design challenge
---
Relevant Entities:
- [[metadao]] — parent protocol
- [[solomon]] — notable launch
- [[omnipair]] — ecosystem infrastructure
Topics:
- [[internet finance and decision markets]]
The Futardio launch by Rock Game shows that MetaDAO's mechanisms are structurally present and accessible at micro-scale, but it does not validate the full value proposition under significant capital pressure.

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entities/internet-finance/rock-game.md
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---
type: entity
entity_type: company
name: Rock Game
domain: internet-finance
status: active
website: https://joe.com
tracked_by: rio
created: 2026-03-11
key_metrics:
raise_target: "$10.00"
total_committed: "$272.00"
oversubscription_ratio: "27.2x"
launch_date: "2026-02-25"
platform: "futardio"
token_symbol: "3n6"
confidence: low
description: Rock Game's Futardio launch demonstrates the structural presence of MetaDAO's mechanisms at micro-scale.
created: 2023-10-01
processed_date: 2023-10-05
source: [[2026-02-25-futardio-launch-rock-game]]
---
# Rock Game
Battle royale game built natively on Solana with play-to-earn mechanics, raised through MetaDAO's Unruggable ICO platform. The project positions itself as addressing play-to-earn's credibility problem through futarchy-governed treasury, DAO LLC IP ownership, and performance-gated founder unlocks.
## Timeline
- **2026-02-25** — Launched fundraise on Futardio with $10 target, raised $272 (27.2x oversubscription)
- **2026-02-26** — Fundraise closed and completed
## Relationship to KB
- [[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]] — case study of unruggable ICO structure
- [[futarchy-governed liquidation is the enforcement mechanism that makes unruggable ICOs credible because investors can force full treasury return when teams materially misrepresent]] — explicitly positions futarchy governance as investor protection
- [[performance-unlocked-team-tokens-with-price-multiple-triggers-and-twap-settlement-create-long-term-alignment-without-initial-dilution]] — implements performance-gated founder unlocks
Rock Game's Futardio launch demonstrates that MetaDAO's mechanisms are structurally present and accessible at micro-scale, but it does not validate the full value proposition under significant capital pressure.