rio: extract from 2026-03-03-futardio-launch-manna-finance.md

- Source: inbox/archive/2026-03-03-futardio-launch-manna-finance.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 4)

Pentagon-Agent: Rio <HEADLESS>

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** — [[manna-finance-futardio-fundraise]] launched seeking $120K, failed with only $205 committed (0.17% of target)
 ## 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."

entities/internet-finance/manna-finance-futardio-fundraise.md

@@ -0,0 +1,44 @@
+---
+type: entity
+entity_type: decision_market
+name: "Manna Finance: Futardio Fundraise"
+domain: internet-finance
+status: failed
+parent_entity: "[[manna-finance]]"
+platform: "futardio"
+proposer: "Manna Finance team"
+proposal_url: "https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
+proposal_date: 2026-03-03
+resolution_date: 2026-03-04
+category: "fundraise"
+summary: "Zero-interest CDP protocol on Solana seeking $120K for mainnet launch and audit"
+key_metrics:
+  raise_target: "$120,000"
+  total_committed: "$205"
+  oversubscription_ratio: 0.0017
+  duration_days: 1
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Manna Finance: Futardio Fundraise
+
+## Summary
+Manna Finance attempted to raise $120,000 through Futardio to build a Liquity-style zero-interest CDP protocol on Solana. The fundraise sought to fund smart contract audits, mainnet deployment, and 12 months of team runway at $10K/month. The raise failed dramatically, attracting only $205 in commitments (0.17% of target) before closing and entering refund status after one day.
+
+## Market Data
+- **Outcome:** Failed (refunding)
+- **Raise Target:** $120,000
+- **Total Committed:** $205
+- **Oversubscription:** 0.17%
+- **Duration:** 1 day (2026-03-03 to 2026-03-04)
+
+## Significance
+This represents one of the most dramatic fundraise failures on Futardio's platform, with the project achieving less than 1% of its target. The failure occurred despite a detailed technical proposal, competitive positioning analysis, and planned MetaDAO governance integration. The case illustrates that futarchy-governed fundraising platforms do not guarantee capital formation success — market participants still evaluate team credibility, technical feasibility, and market timing.
+
+The project's positioning as "SOL-only collateral" and "zero interest" differentiation was insufficient to attract capital in a market where multiple established stablecoin protocols (Jupiter's jupUSD, Solomon's USDv, Solstice's USX) already existed with significant traction.
+
+## Relationship to KB
+- [[futardio]] — fundraising platform
+- [[MetaDAO]] — planned governance mechanism
+- [[internet-capital-markets-compress-fundraising-timelines]] — counterexample showing speed does not guarantee success

entities/internet-finance/manna-finance.md

@@ -0,0 +1,32 @@
+---
+type: entity
+entity_type: company
+name: "Manna Finance"
+domain: internet-finance
+status: failed
+founded: 2026
+headquarters: "Unknown"
+key_people:
+  - role: "Founder"
+    name: "Unknown"
+website: "https://manna.finance/"
+social:
+  twitter: "https://x.com/MannaFinance"
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Manna Finance
+
+Manna Finance was a proposed zero-interest CDP (Collateralized Debt Position) protocol on Solana modeled after Liquity V1. The protocol would have allowed users to deposit SOL as collateral and mint solUSD stablecoin with only a one-time borrowing fee and no ongoing interest. The project attempted to raise $120,000 through Futardio but failed to meet its funding target, raising only $205 before entering refund status.
+
+The protocol was designed with hard peg mechanisms (redemptions and liquidations via Stability Pool) and planned to implement MetaDAO futarchy governance from launch. The project never reached mainnet deployment.
+
+## Timeline
+- **2026-03-03** — [[manna-finance-futardio-fundraise]] launched on Futardio seeking $120K for 12-month runway
+- **2026-03-04** — Fundraise closed with only $205 committed (0.17% of target), entered refunding status
+
+## Relationship to KB
+- [[futardio]] — fundraising platform used
+- [[MetaDAO]] — planned governance mechanism
+- Example of failed futarchy-governed fundraise in early-stage crypto capital formation

inbox/archive/2026-03-03-futardio-launch-manna-finance.md

@@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
 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: "Failed fundraise on Futardio. Project never reached mainnet. No novel claims extracted — this is purely entity/factual data about a failed capital formation attempt. The source contains extensive competitive analysis and technical details, but these represent the team's pitch deck content rather than verifiable market insights. Significance: demonstrates that futarchy platforms enable rapid failure discovery (1 day to refund vs months of traditional fundraising), but do not guarantee success."
 ---
 
 ## Launch Details
@@ -186,3 +190,15 @@ We're not pitching to VCs. We're raising from the community that will use and go
 - Token mint: `DQuz3AeodGAoyXV5MG56F1ZqvgRpn1VhFwFskW6Jmeta`
 - Version: v0.7
 - Closed: 2026-03-04
+
+
+## Key Facts
+- Manna Finance fundraise target: $120,000 (2026-03-03)
+- Manna Finance total committed: $205 (2026-03-04)
+- Manna Finance oversubscription ratio: 0.17% (2026-03-04)
+- Manna Finance planned monthly burn: $10,000/month for 12-month runway
+- Manna Finance collateral: SOL-only
+- Manna Finance stablecoin: solUSD with zero ongoing interest
+- Manna Finance mechanism: Liquity V1-style CDP with redemptions and liquidations
+- Manna Finance governance: Planned MetaDAO futarchy from launch
+- Manna Finance competitive positioning: vs USX (Solstice), USDv (Solomon), jupUSD (Jupiter), USDGO (OSL)