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rio: extract from 2026-03-03-futardio-launch-salmon-wallet.md

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- Source: inbox/archive/2026-03-03-futardio-launch-salmon-wallet.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 6)

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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
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@ -82,6 +82,12 @@ Futardio cult launch (2026-03-03 to 2026-03-04) demonstrates MetaDAO's platform
(challenge) Areal's failed Futardio launch ($11,654 raised of $50K target, REFUNDING status) demonstrates that futarchy-governed fundraising does not guarantee capital formation success. The mechanism provides credible exit guarantees through market-governed liquidation and governance quality through conditional markets, but market participants still evaluate project fundamentals and team credibility. Futarchy reduces rug risk but does not eliminate market skepticism of unproven business models or early-stage teams.
### Additional Evidence (extend)
*Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
MetaDAO's platform scope now extends beyond meme coins and capital allocation vehicles to operational software infrastructure. Salmon Wallet represents the first wallet infrastructure project to attempt a futarchy-governed raise on the platform, seeking $375,000 for 12-month runway with $25,000 monthly burn rate across team (73%), infrastructure (17%), growth (8%), and governance/legal/contingency (2%). The project proposed using SAL token for futarchy-based governance of wallet development decisions with quarterly deliverables (Android release Q2, iOS TestFlight Q3, staking integration, AI-powered transaction security, Wallet-as-a-Service). However, the raise failed (refunding status after raising only $97,535 of $375,000 target), suggesting platform-market fit challenges for operational software projects compared to the successful meme coin launches like CULT ($11.4M in one day).
---
Relevant Notes:

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domains/internet-finance/futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.md
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@ -34,6 +34,12 @@ MycoRealms implementation reveals operational friction points: monthly $10,000 a
Optimism futarchy achieved 430 active forecasters and 88.6% first-time governance participants by using play money, demonstrating that removing capital requirements can dramatically lower participation barriers. However, this came at the cost of prediction accuracy (8x overshoot on magnitude estimates), revealing a new friction: the play-money vs real-money tradeoff. Play money enables permissionless participation but sacrifices calibration; real money provides calibration but creates regulatory and capital barriers. This suggests futarchy adoption faces a structural dilemma between accessibility and accuracy that liquidity requirements alone don't capture. The tradeoff is not merely about quantity of liquidity but the fundamental difference between incentive structures that attract participants vs incentive structures that produce accurate predictions.
### Additional Evidence (confirm)
*Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
Salmon Wallet's failed futarchy raise on Futardio demonstrates adoption friction in practice. The project raised only $97,535 of a $375,000 target (26% of goal) before refunding on 2026-03-04, despite being an established project (active since 2022, listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants). This represents the first observed futarchy-governed wallet infrastructure project attempting to raise capital through MetaDAO's platform. The failure suggests that futarchy mechanisms face significant barriers when applied to operational software projects with complex quarterly roadmaps and ongoing infrastructure costs ($25,000/month burn rate) compared to simpler capital allocation vehicles or meme coins.
---
Relevant Notes:

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domains/internet-finance/futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance.md
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@ -37,6 +37,12 @@ The contrast with Ranger is instructive. Ranger's liquidation shows futarchy han
- The subcommittee model introduces trusted roles that could recentralize power over time, undermining the trustless property that makes futarchy valuable
- Since [[Ooki DAO proved that DAOs without legal wrappers face general partnership liability making entity structure a prerequisite for any futarchy-governed vehicle]], some of this scaffolding is legally required rather than a failure of market mechanisms
### Additional Evidence (extend)
*Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
Salmon Wallet's proposed governance model illustrates the operational complexity futarchy faces in software development contexts. The project planned to use SAL token for 'collective decision-making through a futarchy model, where results determine direction' while maintaining a $25,000 monthly burn rate across four distinct operational categories: team (73%), infrastructure (17%), growth (8%), and governance/legal/contingency (2%). The detailed 12-month roadmap with specific quarterly deliverables (Android public release, WebApp relaunch, iOS TestFlight, staking integration, AI-powered transaction security, Wallet-as-a-Service, custom notifications, portfolio view, ecosystem protocol integrations) suggests that even futarchy-governed software projects require traditional operational planning structures, budget discipline, and legal/compliance scaffolding. The failed raise (26% of target) may indicate that markets struggle to price complex operational roadmaps and ongoing infrastructure requirements compared to simpler capital allocation decisions.
---
Relevant Notes:

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entities/internet-finance/futardio.md
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@ -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** — [[salmon-wallet-futardio-fundraise]] failed: First wallet infrastructure project attempted raise, achieved only $97,535/$375,000 (26%) before refunding, demonstrating adoption friction for operational software vs meme coins
## 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."

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entities/internet-finance/salmon-wallet-futardio-fundraise.md Normal file
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@ -0,0 +1,56 @@
---
type: entity
entity_type: decision_market
name: "Salmon Wallet: Futardio Fundraise"
domain: internet-finance
status: failed
parent_entity: "[[futardio]]"
platform: "futardio"
proposer: "Salmon Wallet team"
proposal_url: "https://www.futard.io/launch/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
proposal_date: 2026-03-03
resolution_date: 2026-03-04
category: "fundraise"
summary: "Open-source wallet infrastructure project seeking $375K for 12-month runway through futarchy-governed raise"
key_metrics:
raise_target: "$375,000"
total_committed: "$97,535"
outcome: "refunding"
duration: "1 day"
token: "SAL (Salmon Token)"
monthly_burn: "$25,000"
tracked_by: rio
created: 2026-03-11
---
# Salmon Wallet: Futardio Fundraise
## Summary
Salmon Wallet, an open-source self-custodial wallet active since 2022, attempted to raise $375,000 through Futardio's futarchy-governed platform for a 12-month operational runway. The project proposed using SAL token for futarchy-based governance of wallet development decisions. The raise failed after one day, achieving only 26% of target ($97,535) before entering refunding status.
## Market Data
- **Outcome:** Failed (Refunding)
- **Proposer:** Salmon Wallet team
- **Raise Target:** $375,000
- **Total Committed:** $97,535 (26% of target)
- **Duration:** 2026-03-03 to 2026-03-04 (1 day)
- **Token:** SAL (Salmon Token, mint: DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta)
- **Launch Address:** Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
## Significance
This represents the first observed futarchy-governed wallet infrastructure project on MetaDAO's platform, and its failure provides empirical evidence about futarchy adoption friction for operational software versus pure capital allocation vehicles. Despite being an established project (listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants), Salmon Wallet could not attract sufficient capital through the futarchy mechanism.
The project's detailed operational plan ($25K monthly burn across team 73%, infrastructure 17%, growth 8%, governance/legal 2%) and specific quarterly roadmap (Android release, iOS TestFlight, staking integration, AI-powered security, Wallet-as-a-Service) suggests that futarchy markets may struggle to price complex operational software development compared to simpler meme coin launches (cf. CULT's $11.4M raise in one day).
## Project Background
- **Active Since:** 2022
- **Prior Funding:** $122,500 ($80K bootstrap, $2.5K Serum grant, $40K Eclipse grant)
- **Infrastructure:** Operates own Solana validator for transparent revenue
- **Distribution:** Listed on Solana wallet adapter since 2022
- **Planned Runway:** 12 months at $25K/month burn rate
## Relationship to KB
- [[futardio]] — first wallet infrastructure fundraise on platform
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — empirical confirmation
- [[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]] — scope expansion beyond meme coins
- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] — operational complexity example

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entities/internet-finance/salmon-wallet.md Normal file
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---
type: entity
entity_type: company
name: "Salmon Wallet"
domain: internet-finance
status: active
founded: 2022
website: "https://salmonwallet.io/"
social:
twitter: "https://x.com/salmonwallet"
telegram: "https://t.me/salmon_wallet"
github: "https://github.com/salmon-wallet"
key_metrics:
prior_funding: "$122,500"
funding_sources: "Bootstrap ($80K), Serum grant ($2.5K), Eclipse grant ($40K)"
futardio_raise_attempted: "$375,000"
futardio_raise_actual: "$97,535"
monthly_burn_planned: "$25,000"
tracked_by: rio
created: 2026-03-11
---
# Salmon Wallet
## Overview
Salmon Wallet is an open-source, self-custodial cryptocurrency wallet built primarily on Solana with Bitcoin support. Active since 2022 and listed on the Solana wallet adapter, the project positions itself around transparency, user sovereignty, and community-first governance. The team operates their own Solana validator for transparent revenue generation.
## Timeline
- **2022** — Project founded, listed on Solana wallet adapter, received $80K bootstrap funding and $2.5K Serum grant
- **2022-2024** — Received $40K Eclipse grant, continued development
- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] launched seeking $375K for 12-month runway through futarchy-governed raise
- **2026-03-04** — Futardio raise failed, entered refunding status after raising only $97,535 (26% of target)
## Relationship to KB
- [[futardio]] — attempted first wallet infrastructure fundraise on platform
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — case study in adoption barriers
- [[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]] — tested platform scope beyond meme coins

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inbox/archive/2026-03-03-futardio-launch-salmon-wallet.md
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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
date: 2026-03-03
domain: internet-finance
format: data
status: unprocessed
status: processed
tags: [futardio, metadao, futarchy, solana]
event_type: launch
processed_by: rio
@ -14,6 +14,11 @@ 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 adoption faces friction from token price psychology proposal complexity and liquidity requirements.md", "futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance.md"]
extraction_model: "anthropic/claude-sonnet-4.5"
extraction_notes: "First observed futarchy-governed wallet infrastructure project on MetaDAO platform. Failed raise provides empirical data on futarchy adoption friction for operational software vs pure capital allocation vehicles. Enriches existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges."
processed_by: rio
processed_date: 2026-03-11
enrichments_applied: ["futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.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", "futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance.md"]
extraction_model: "anthropic/claude-sonnet-4.5"
extraction_notes: "First observed futarchy-governed wallet infrastructure project on MetaDAO platform. Failed raise provides empirical data on futarchy adoption friction for operational software vs pure capital allocation vehicles. No new claims warranted — all insights enrich existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges. Created decision_market entity for the fundraise and company entity for Salmon Wallet, updated Futardio timeline."
---
## Launch Details
@ -215,3 +220,14 @@ Secondary:
- Launch address: Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
- Operates own Solana validator for transparent revenue
- Listed on Solana wallet adapter since 2022
## Key Facts
- Salmon Wallet active since 2022, listed on Solana wallet adapter
- Prior funding: $122,500 ($80K bootstrap, $2.5K Serum, $40K Eclipse)
- Operates own Solana validator for revenue
- Futardio raise: $97,535/$375,000 (26%) before refunding
- Planned burn rate: $25,000/month (73% team, 17% infrastructure, 8% growth, 2% governance/legal)
- Token: SAL (Salmon Token)
- Launch address: Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
- Raise duration: 2026-03-03 to 2026-03-04 (1 day)