rio: extract from 2026-03-03-futardio-launch-manna-finance.md

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

Pentagon-Agent: Rio <HEADLESS>

entities/internet-finance/futardio.md

@@ -46,7 +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** — [[manna-finance-futardio-fundraise]] launched seeking $120K for zero-interest CDP protocol, closed next day with only $205 committed (0.17% of target), refunded
+- **2026-03-03** — [[manna-finance]] fundraise launched targeting $120,000, closed next day in refunding status with only $205 committed
 ## 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."

entities/internet-finance/manna-finance-futardio-fundraise.md

@@ -1,45 +0,0 @@
----
-type: entity
-entity_type: decision_market
-name: "Manna Finance: Futardio Fundraise"
-domain: internet-finance
-status: failed
-parent_entity: "[[manna-finance]]"
-platform: "futardio"
-proposer: "Manna Finance team"
-proposal_url: "https://www.futard.io/launch/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
-proposal_date: 2026-03-03
-resolution_date: 2026-03-04
-category: "fundraise"
-summary: "Zero-interest CDP protocol on Solana seeking $120K for 12-month runway to build Liquity-style stablecoin with MetaDAO governance"
-tracked_by: rio
-created: 2026-03-11
-key_metrics:
-  raise_target: "$120,000"
-  total_committed: "$205"
-  outcome: "refunded"
-  duration_days: 1
----
-
-# Manna Finance: Futardio Fundraise
-
-## Summary
-Manna Finance attempted to raise $120,000 through Futardio to fund development and launch of a zero-interest CDP protocol on Solana. The protocol would allow users to deposit SOL and mint solUSD stablecoin with no ongoing interest, only a one-time borrowing fee. The raise sought 12 months of runway at $10K/month for security audit, mainnet deployment, and team compensation. The fundraise failed dramatically, attracting only $205 in commitments (0.17% of target) before closing after one day.
-
-## Market Data
-- **Outcome:** Failed (refunded)
-- **Raise Target:** $120,000
-- **Total Committed:** $205
-- **Oversubscription:** 0.17%
-- **Duration:** 1 day (2026-03-03 to 2026-03-04)
-
-## Significance
-This represents one of the most severe fundraise failures on Futardio's platform, with the raise attracting less than 0.2% of its target. The failure occurred despite a detailed technical proposal, competitive analysis, clear roadmap, and alignment with Futardio's futarchy governance philosophy. The project had completed significant technical work (smart contracts, SDK, test suite) before attempting the raise.
-
-The failure suggests either: (1) market skepticism about yet another stablecoin project in a crowded Solana stablecoin landscape, (2) insufficient community building before the raise, (3) timing issues with broader market conditions, or (4) fundamental questions about product-market fit for zero-interest CDPs on Solana given existing alternatives.
-
-## Relationship to KB
-- [[manna-finance]] — parent entity
-- [[futardio]] — fundraising platform
-- [[MetaDAO]] — planned governance mechanism
-- Contrasts with successful Futardio raises like [[futardio-cult-raised-11-4-million-in-one-day-through-futarchy-governed-meme-coin-launch]]

entities/internet-finance/manna-finance.md

@@ -4,26 +4,29 @@ entity_type: company
 name: "Manna Finance"
 domain: internet-finance
 status: failed
+founded: 2026
+website: "https://manna.finance/"
+twitter: "https://x.com/MannaFinance"
+platform: "Solana"
 tracked_by: rio
 created: 2026-03-11
 key_metrics:
   raise_target: "$120,000"
   total_committed: "$205"
-  raise_outcome: "refunded"
-  oversubscription_ratio: 0.0017
+  raise_outcome: "refunding"
+  launch_date: "2026-03-03"
+  close_date: "2026-03-04"
 ---
 
 # Manna Finance
 
-Manna Finance is a zero-interest CDP protocol on Solana modeled after Liquity V1. Users deposit SOL as collateral to mint solUSD stablecoin with only a one-time borrowing fee and no ongoing interest. The protocol maintains its peg through redemptions (solUSD exchangeable for $1 of SOL) and liquidations via a Stability Pool. Governance was planned via MetaDAO futarchy from launch.
-
-The project attempted to raise $120,000 through Futardio in March 2026 but received only $205 in commitments, resulting in a refund. The protocol had completed core smart contract development (11 Anchor/Rust instructions), TypeScript SDK, test suite, and landing page before the failed raise.
+Manna Finance is a zero-interest CDP (Collateralized Debt Position) protocol on Solana modeled after Liquity V1. Users deposit SOL as collateral to mint solUSD stablecoin with a one-time borrowing fee and no ongoing interest. The protocol maintains its peg through redemption mechanisms and liquidations via a Stability Pool. Governance was planned via MetaDAO futarchy.
 
 ## Timeline
-- **2026-03-03** — [[manna-finance-futardio-fundraise]] launched on Futardio seeking $120K for 12-month runway
-- **2026-03-04** — Fundraise closed with $205 committed (0.17% of target), status: refunding
+- **2026-03-03** — Launched fundraise on Futardio targeting $120,000 for 12-month runway to cover audit, mainnet deployment, and team operations
+- **2026-03-04** — Fundraise closed in refunding status after raising only $205 of $120,000 target (0.17% of goal)
 
 ## Relationship to KB
 - [[futardio]] — fundraising platform
-- [[MetaDAO]] — planned governance mechanism
-- Competitive positioning against [[solomon]], Jupiter (jupUSD), and centralized stablecoins
+- [[metadao]] — planned governance mechanism
+- Attempted to implement [[futarchy-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control]]

inbox/archive/2026-03-03-futardio-launch-manna-finance.md

@@ -12,7 +12,7 @@ event_type: launch
 processed_by: rio
 processed_date: 2026-03-11
 extraction_model: "anthropic/claude-sonnet-4.5"
-extraction_notes: "This is a failed fundraise announcement with detailed project documentation but no novel claims about futarchy mechanisms or market dynamics. The extreme failure rate (0.17% subscription) is a data point but not sufficient alone to make a claim about futarchy fundraising dynamics without additional context or pattern evidence. Created entity pages for Manna Finance and the decision market, added timeline entry to Futardio. The competitive analysis table and technical details are preserved in the entity page for reference."
+extraction_notes: "Failed fundraise for Liquity-style CDP on Solana. No novel claims—standard CDP mechanics and futarchy governance already covered in KB. Entity created to track the failed launch. Source contains detailed competitive analysis and go-to-market strategy but represents a single failed attempt, not evidence of broader patterns. The 0.17% funding rate itself is a data point, not a claim about futarchy or CDP viability."
 ---
 
 ## Launch Details
@@ -193,8 +193,9 @@ We're not pitching to VCs. We're raising from the community that will use and go
 
 
 ## Key Facts
-- Manna Finance raised $205 of $120,000 target on Futardio (2026-03-03)
-- Manna Finance fundraise had 0.17% subscription rate, lowest observed on Futardio
-- Manna Finance planned 125% minimum collateral ratio for SOL-backed solUSD
-- Manna Finance planned $10K/month burn rate: 70% team, 10% infrastructure, 15% marketing, 5% security/legal
-- Solana stablecoin landscape includes USX (Solstice), USDv (Solomon), jupUSD (Jupiter), USDGO (OSL) as of March 2026
+- Manna Finance raised $205 of $120,000 target (0.17%) on Futardio (2026-03-03 to 2026-03-04)
+- Manna planned 125% minimum collateralization ratio for SOL-backed solUSD
+- Manna's competitive positioning: zero ongoing interest (one-time 0.5% fee), SOL-only collateral, MetaDAO futarchy governance
+- Manna roadmap: audit in Month 2-3, mainnet June 2026, DAO transition Month 7-12
+- Monthly burn planned: $10,000 ($7,000 team, $1,000 infrastructure, $1,500 marketing, $500 security)
+- Solana stablecoin landscape includes USX (Solstice), USDv (Solomon), jupUSD (Jupiter), USDGO (OSL)