rio: extract from 2026-03-09-futardio-launch-etnlio.md

- Source: inbox/archive/2026-03-09-futardio-launch-etnlio.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 3)

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---
type: entity
entity_type: decision_market
name: "Etnl.io: Futardio Fundraise"
domain: internet-finance
status: failed
parent_entity: "[[etnlio]]"
platform: futardio
proposal_url: "https://www.futard.io/launch/4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9"
proposal_date: 2026-03-09
resolution_date: 2026-03-10
category: fundraise
summary: "First documented failed raise on Futardio platform, raising $96 against $500K target before refunding"
key_metrics:
raise_target: "$500,000"
total_committed: "$96"
completion_rate: "0.019%"
token: "64S"
token_mint: "64SnHgEfSdzpnmHEhh2niN8bcAjmhTyEQky2DKWBmeta"
launch_address: "4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9"
platform_version: "v0.7"
tracked_by: rio
created: 2026-03-11
---
# Etnl.io: Futardio Fundraise
## Summary
Etnl.io attempted to raise $500,000 through Futardio's futarchy-governed launch platform to build a Secure Enclave-based mobile wallet. The raise failed to reach minimum threshold, collecting only $96 in commitments before entering refunding status within 24 hours. This represents the first documented failed raise on the Futardio platform.
## Market Data
- **Outcome:** Failed (refunding)
- **Target:** $500,000
- **Raised:** $96 (0.019% of target)
- **Duration:** 2026-03-09 to 2026-03-10 (24 hours)
- **Token:** 64S (mint: 64SnHgEfSdzpnmHEhh2niN8bcAjmhTyEQky2DKWBmeta)
## Significance
This failure is particularly notable because the project had all the informational prerequisites for success: complete technical documentation (Secure Enclave architecture), transparent team budget ($30,000/month), clear roadmap with phased delivery, and comprehensive market positioning. The barrier was market liquidity and participation, not project quality or information asymmetry. This provides empirical evidence that futarchy-governed raises face adoption friction beyond mechanism design—specifically, the cold-start problem of attracting initial capital without existing community or market presence.
## Relationship to KB
- [[futardio]] — launch platform
- [[etnlio]] — parent entity
- [[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]] — challenges product-market fit claim

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---
type: entity
entity_type: company
name: Etnl.io
domain: internet-finance
status: failed
website: https://etnl.io
social:
twitter: https://x.com/etnl_io
telegram: https://t.me/etnlio
tracked_by: rio
created: 2026-03-11
---
# Etnl.io
Etnl.io is a mobile wallet project designed to deliver hardware-level security through smartphone Secure Enclave integration, eliminating the need for external hardware wallets. The project attempted to raise $500,000 through Futardio's futarchy-governed launch platform but failed to reach minimum threshold, raising only $96 before entering refunding status. The failure is notable because the project had complete documentation, clear technical architecture, transparent team budget, and coherent market positioning—suggesting the barrier was market liquidity and participation rather than project quality.
## Timeline
- **2026-03-09** — Futardio raise launched with $500,000 target
- **2026-03-10** — Raise entered refunding status with $96 total committed (0.019% of target)
## Relationship to KB
- [[futardio]] — launch platform
- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — empirical evidence of 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]] — challenges product-market fit claim

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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
- **2026-03-09** — [[etnlio-futardio-fundraise]] failed: first documented failed raise on platform, $96 raised against $500K target before refunding
## 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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@ -6,7 +6,7 @@ url: "https://www.futard.io/launch/4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9"
date: 2026-03-09
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: 2026-03-10
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", "internet capital markets compress fundraising from months to days because permissionless raises eliminate gatekeepers while futarchy replaces due diligence bottlenecks with real-time market pricing.md"]
extraction_model: "anthropic/claude-sonnet-4.5"
extraction_notes: "First documented failed raise on Futardio platform. No new claims warranted—this is empirical evidence of existing friction claims (liquidity requirements, adoption barriers) and challenges optimistic claims about MetaDAO's product-market fit and capital formation speed. The failure is particularly notable because the project had complete documentation, clear use of funds, and a coherent product narrative, suggesting the barrier is market liquidity/participation rather than project quality or information asymmetry."
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", "internet capital markets compress fundraising from months to days because permissionless raises eliminate gatekeepers while futarchy replaces due diligence bottlenecks with real-time market pricing.md"]
extraction_model: "anthropic/claude-sonnet-4.5"
extraction_notes: "First documented failed raise on Futardio platform. No new claims warranted—this is empirical evidence of existing friction claims (liquidity requirements, adoption barriers) and challenges optimistic claims about MetaDAO's product-market fit and capital formation speed. The failure is particularly notable because the project had complete documentation, clear use of funds, and a coherent product narrative, suggesting the barrier is market liquidity/participation rather than project quality or information asymmetry. Created entity pages for Etnl.io company and the decision_market for the fundraise attempt, plus timeline update to Futardio parent entity."
---
## Launch Details
@ -68,6 +73,15 @@ The self-custody wallet market is growing rapidly as users move away from centra
- Closed: 2026-03-10
## Key Facts
- Etnl.io Futardio raise: $500,000 target, $96 committed, refunding status (2026-03-09 to 2026-03-10)
- Etnl.io product: Secure Enclave-based mobile wallet with hardware-level security
- Etnl.io team budget: $30,000/month
- Launch address: 4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9
- Token: 64S, mint: 64SnHgEfSdzpnmHEhh2niN8bcAjmhTyEQky2DKWBmeta
- Futardio platform version: v0.7
## Key Facts
- Etnl.io Futardio raise: $500,000 target, $96 committed, refunding status (2026-03-09 to 2026-03-10)
- Etnl.io product: Secure Enclave-based mobile wallet with hardware-level security