rio: extract from 2026-03-03-futardio-launch-cloak.md

- Source: inbox/archive/2026-03-03-futardio-launch-cloak.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 3) Pentagon-Agent: Rio <HEADLESS>
2026-03-12 17:12:48 +00:00 · 2026-03-12 17:12:48 +00:00 · d4df0a212b
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--- a/entities/internet-finance/cloak-futardio-fundraise.md
+++ b/entities/internet-finance/cloak-futardio-fundraise.md
@ -0,0 +1,51 @@
+---
+type: entity
+entity_type: decision_market
+name: "Cloak: Futardio Fundraise"
+domain: internet-finance
+status: failed
+parent_entity: "[[cloak]]"
+platform: futardio
+proposal_url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R"
+proposal_date: 2026-03-03
+resolution_date: 2026-03-04
+category: fundraise
+summary: "Cloak attempted to raise $300K for private DCA infrastructure on Solana through Futardio but received only $1,455 in commitments (0.49% of target)"
+key_metrics:
+  raise_target: "$300,000"
+  total_committed: "$1,455"
+  commitment_rate: "0.49%"
+  raise_window: "24 hours"
+  outcome: "refunded"
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Cloak: Futardio Fundraise
+
+## Summary
+Cloak launched a $300K fundraise on Futardio to build private DCA infrastructure on Solana using ZK-proof privacy pools. The 24-hour raise window closed with only $1,455 committed (0.49% of target), triggering automatic refunds per Futardio's all-or-nothing mechanism. This represents one of the lowest commitment rates for a Futardio launch with a substantive product in private beta.
+
+## Market Data
+- **Outcome:** Failed (refunded)
+- **Raise Target:** $300,000
+- **Total Committed:** $1,455 (0.49%)
+- **Token:** 8RS
+- **ICO Price:** $0.03 per token
+- **Proposed FDV:** $477,000
+- **Raise Window:** 24 hours (2026-03-03 to 2026-03-04)
+
+## Significance
+This fundraise demonstrates the challenge of privacy-focused infrastructure projects attracting capital in permissionless launch environments. Despite having a working product in private beta, integration with established protocols (Privacy.cash, Jupiter), and a detailed technical roadmap, Cloak failed to generate market interest. The 0.49% commitment rate suggests either:
+1. Privacy DCA is not a compelling value proposition for Solana users
+2. The $300K target was misaligned with demonstrated traction
+3. 24-hour launch windows are insufficient for infrastructure projects to build conviction
+
+The team's performance-locked token structure (3M tokens unlocking only at 2x, 4x, 8x, 16x, 32x price multiples with 18-month cliff) represented strong alignment but was insufficient to overcome market skepticism.
+
+## Relationship to KB
+- [[cloak]] — parent entity
+- [[futardio]] — launch platform
+- [[MetaDAO]] — futarchy infrastructure
+- Demonstrates challenge for [[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]]
+- Tests [[internet-capital-markets-compress-fundraising-timelines]] hypothesis with negative result
--- a/entities/internet-finance/cloak.md
+++ b/entities/internet-finance/cloak.md
@ -0,0 +1,36 @@
+---
+type: entity
+entity_type: company
+name: Cloak
+domain: internet-finance
+status: failed
+founded: 2026
+platform: solana
+key_metrics:
+  raise_target: "$300,000"
+  total_committed: "$1,455"
+  raise_outcome: "refunded"
+  token_symbol: "8RS"
+  ico_price: "$0.03"
+  fdv_at_launch: "$477,000"
+  total_supply: "15,900,000"
+  ico_allocation: "10,000,000 (62.9%)"
+  liquidity_allocation: "2,900,000 (18.2%)"
+  team_allocation: "3,000,000 (18.9%, performance-locked)"
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Cloak
+
+Cloak is a privacy infrastructure protocol on Solana that enables private DCA (dollar-cost averaging) execution through ZK-proof privacy pools. The protocol routes trades through unlinkable session wallets to break the on-chain link between user wallets and trading strategies. Launched via Futardio fundraise on 2026-03-03, the raise failed to reach its $300K target and refunded all commitments.
+
+## Timeline
+- **2026-03-03** — [[cloak-futardio-fundraise]] launched on Futardio with $300K target
+- **2026-03-04** — Fundraise closed with only $1,455 committed (0.49% of target), triggering automatic refund
+
+## Relationship to KB
+- [[futardio]] — launch platform
+- [[MetaDAO]] — futarchy infrastructure provider
+- Product demonstrated [[privacy.cash]] ZK-proof integration and [[Jupiter]] DEX routing
+- Team allocation structure used [[performance-unlocked-team-tokens-with-price-multiple-triggers-and-twap-settlement-create-long-term-alignment-without-initial-dilution]] mechanism design
--- a/entities/internet-finance/futardio.md
+++ b/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** — [[cloak-futardio-fundraise]] launched with $300K target, closed 2026-03-04 with only $1,455 committed (0.49%), triggering refund
 ## 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."
--- a/entities/internet-finance/oro.md
+++ b/entities/internet-finance/oro.md
@ -0,0 +1,23 @@
+---
+type: entity
+entity_type: company
+name: Oro
+domain: internet-finance
+status: active
+platform: solana
+product_type: tokenized_gold
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Oro
+
+Oro is a tokenized gold protocol on Solana that enables on-chain exposure to physical gold. The protocol represents one of the first real-world asset (RWA) integrations on Solana focused on precious metals.
+
+## Timeline
+- **2026-03-03** — Integrated by [[cloak]] as first RWA asset for private DCA, with automatic gold accumulation from leftover change in DCA orders
+
+## Relationship to KB
+- [[cloak]] — first private distribution layer integration
+- Demonstrates [[areal-targets-smb-rwa-tokenization-as-underserved-market-versus-equity-and-large-financial-instruments]] expansion into commodities
+- Solana RWA infrastructure
--- a/entities/internet-finance/privacy-cash.md
+++ b/entities/internet-finance/privacy-cash.md
@ -0,0 +1,22 @@
+---
+type: entity
+entity_type: company
+name: Privacy.cash
+domain: internet-finance
+status: active
+platform: solana
+tracked_by: rio
+created: 2026-03-11
+---
+
+# Privacy.cash
+
+Privacy.cash is a ZK-proof privacy pool protocol on Solana that enables cryptographic anonymity for on-chain transactions. The protocol allows users to deposit funds as cryptographic commitments where ownership is provably hidden, breaking the on-chain link between depositor wallets and subsequent transactions.
+
+## Timeline
+- **2026-03-03** — Integrated by [[cloak]] for private DCA infrastructure, demonstrating production use of ZK privacy pools on Solana
+
+## Relationship to KB
+- [[cloak]] — first known integration for private DCA
+- Provides infrastructure for [[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]] privacy use cases
+- Solana implementation of ZK-proof privacy pools
--- a/inbox/archive/2026-03-03-futardio-launch-cloak.md
+++ b/inbox/archive/2026-03-03-futardio-launch-cloak.md
@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R"
 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: "Source is a failed Futardio fundraise for Cloak privacy DCA protocol. Extracted 5 entity files: Cloak company, Cloak fundraise decision_market, Privacy.cash integration, Oro RWA integration, and Futardio timeline update. No novel claims extracted - the source is primarily factual launch data and company pitch material. The 0.49% commitment rate is a significant data point but represents a single case, insufficient for broader claims about privacy infrastructure or futarchy launch dynamics. Key facts preserved in source archive for future reference."
 ---

 ## Launch Details
@ -217,3 +221,15 @@ Worst case: the first and only private DCA product on Solana, used by whales who
 - Token mint: `8RSpKqJFeF6ipThWDXP284mE2ufmfeHwjdEjduQ2meta`
 - Version: v0.7
 - Closed: 2026-03-04
+
+
+## Key Facts
+- Cloak raised $1,455 of $300K target (0.49% commitment rate) on Futardio 2026-03-03
+- Cloak team: Vaibhav (CoinDCX engineer, PermaSign co-founder) and Prasad (Stealth founding engineer, PermaSign co-founder)
+- Cloak token allocation: 62.9% ICO, 18.2% liquidity, 18.9% team (performance-locked)
+- Cloak team tokens unlock at 2x, 4x, 8x, 16x, 32x ICO price with 18-month minimum cliff
+- Cloak integrated Privacy.cash ZK-proof pools and Jupiter DEX routing
+- Cloak first protocol to offer private DCA into RWA (Oro tokenized gold)
+- MEV extraction on Solana estimated at $370M-$500M over 16 months (mid-2025)
+- Cloak estimated whale DCA information leakage cost at $10K-$40K/month on $500K volume
+- Cloak fee structure: 0.25% on volume