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 5) Pentagon-Agent: Rio <HEADLESS>
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entities/internet-finance/cloak.md
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entities/internet-finance/cloak.md
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---
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type: entity
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entity_type: company
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name: "Cloak"
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domain: internet-finance
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status: failed
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founded: 2026
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platform: "Solana"
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key_metrics:
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raise_target: "$300,000"
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total_committed: "$1,455"
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raise_outcome: "refunded"
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token_symbol: "8RS"
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ico_price: "$0.03"
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fdv_at_launch: "$477,000"
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total_supply: "15,900,000"
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circulating_at_launch: "12,900,000"
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tracked_by: rio
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created: 2026-03-11
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---
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# Cloak
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Cloak is a privacy DCA (dollar-cost averaging) protocol on Solana that enables users to accumulate assets anonymously 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.
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Built during the Solana Cypherpunk Hackathon by co-founders Vaibhav (CoinDCX engineer, PermaSign co-founder) and Prasad (Stealth founding engineer, PermaSign co-founder). The protocol integrates Privacy.cash ZK-proof pools with Jupiter for execution, supporting private DCA into SOL, cbBTC, and ZEC. First RWA integration with Oro (tokenized gold) positioned Cloak as the private distribution layer for real-world assets on Solana.
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## Timeline
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- **2026-03-03** — Futardio fundraise launched targeting $300K with 24-hour window. ICO offered 10M tokens at $0.03 ($477K FDV). Team allocation: 3M tokens performance-locked at 2x/4x/8x/16x/32x price multiples with 18-month cliff. Product live in private beta on mainnet with Solana Blinks support.
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- **2026-03-04** — Fundraise closed with $1,455 committed (0.49% of target). Status: refunding. All funds returned to participants.
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## Relationship to KB
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- [[futardio]] — launch platform
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- [[MetaDAO]] — futarchy governance infrastructure
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- [[Jupiter]] — DEX execution layer
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- [[futarchy-governed-meme-coins-attract-speculative-capital-at-scale]] — counter-example: serious utility product failed to attract capital through futarchy mechanism
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- [[internet-capital-markets-compress-fundraising-timelines]] — 24-hour raise window demonstrates speed but not necessarily success
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@ -46,6 +46,7 @@ MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless
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- **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
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- **2026-03-04** — [[seekervault]] fundraise launched targeting $75,000, closed next day with only $1,186 (1.6% of target) in refunding status
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- **2026-03-03** — [[cloak]] fundraise launched: $300K target, $1,455 committed (0.49%), refunded after 24-hour window. First major utility-focused project failure on platform.
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## Competitive Position
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- **Unique mechanism**: Only launch platform with futarchy-governed accountability and treasury return guarantees
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- **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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@ -6,9 +6,13 @@ url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R"
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date: 2026-03-03
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domain: internet-finance
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format: data
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status: unprocessed
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status: processed
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tags: [futardio, metadao, futarchy, solana]
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event_type: launch
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processed_by: rio
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processed_date: 2026-03-11
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extraction_model: "anthropic/claude-sonnet-4.5"
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extraction_notes: "Cloak fundraise is a significant data point as the first major utility-focused project failure on Futardio. Previous successful raises (CULT, MYCO) were either meme coins or physical infrastructure with clear tangible outputs. This suggests futarchy-governed launches may select for speculative/tangible projects over pure software utility. No novel claims extracted — the failure itself is the data point. Entity created to track this as a counter-example to the 'futarchy-governed-meme-coins-attract-speculative-capital-at-scale' pattern."
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---
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## Launch Details
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@ -217,3 +221,14 @@ Worst case: the first and only private DCA product on Solana, used by whales who
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- Token mint: `8RSpKqJFeF6ipThWDXP284mE2ufmfeHwjdEjduQ2meta`
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- Version: v0.7
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- Closed: 2026-03-04
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## Key Facts
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- Cloak raised $1,455 of $300K target (0.49% success rate) on Futardio (2026-03-03)
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- MEV extraction on Solana estimated at $370M-$500M over 16 months mid-2025
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- Privacy.cash provides ZK-proof privacy pools on Solana
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- Cloak integrated Oro as first RWA (tokenized gold) for private DCA
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- Team: Vaibhav (CoinDCX, PermaSign) and Prasad (Stealth, PermaSign)
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- Product was live in private beta on mainnet at time of fundraise
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- Token allocation: 62.9% ICO, 18.2% liquidity, 18.9% team (performance-locked)
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- Team tokens unlock at 2x/4x/8x/16x/32x ICO price with 18-month minimum cliff
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