diff --git a/entities/internet-finance/fairscale.md b/entities/internet-finance/fairscale.md index 3a041c75..93dd8f7a 100644 --- a/entities/internet-finance/fairscale.md +++ b/entities/internet-finance/fairscale.md @@ -28,8 +28,14 @@ FairScale was a Solana-based reputation infrastructure project that raised ~$355 - **2026-02** — Liquidation proposal passed by narrow margin; 100% treasury liquidation authorized - **2026-02** — Liquidation proposer earned ~300% return -- **2026-02** — [[fairscale-liquidation-proposal]] Passed: 100% treasury liquidation authorized based on revenue misrepresentation; proposer earned ~300% return +- **2026-02** — Passed: 100% treasury liquidation authorized based on revenue misrepresentation; proposer earned ~300% return - **2026-02-15** — Pine Analytics publishes post-mortem analysis documenting that all three proposed design fixes (milestone verification, dispute resolution, contributor whitelisting) reintroduce off-chain trust assumptions + +## Related Claims + +- [[futarchy-governed liquidation is the enforcement mechanism that makes unruggable ICOs credible because investors can force full treasury return when teams materially misrepresent]] — FairScale is the primary case study for this mechanism +- [[ownership coins primary value proposition is investor protection not governance quality because anti-rug enforcement through market-governed liquidation creates credible exit guarantees that no amount of decision optimization can match]] — FairScale liquidation as proof of enforcement mechanism + ## Revenue Misrepresentation Details - **TigerPay:** Claimed ~17K euros/month → community verification found no payment arrangement