rio: extract from 2026-03-03-futardio-launch-salmon-wallet.md

- Source: inbox/archive/2026-03-03-futardio-launch-salmon-wallet.md
- Domain: internet-finance
- Extracted by: headless extraction cron (worker 6)

Pentagon-Agent: Rio <HEADLESS>

domains/internet-finance/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

@@ -86,7 +86,7 @@ Futardio cult launch (2026-03-03 to 2026-03-04) demonstrates MetaDAO's platform
 ### Additional Evidence (extend)
 *Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
 
-MetaDAO's platform scope now extends beyond meme coins and capital allocation vehicles to operational software infrastructure. Salmon Wallet represents the first wallet infrastructure project to attempt a futarchy-governed raise on the platform, seeking $375,000 for 12-month runway with $25,000 monthly burn rate across team (73%), infrastructure (17%), growth (8%), and governance/legal/contingency (2%). The project proposed using SAL token for futarchy-based governance of wallet development decisions with quarterly deliverables (Android release Q2, iOS TestFlight Q3, staking integration, AI-powered transaction security, Wallet-as-a-Service). However, the raise failed (refunding status after raising only $97,535 of $375,000 target), suggesting platform-market fit challenges for operational software projects compared to the successful meme coin launches like CULT ($11.4M in one day).
+MetaDAO's platform scope now demonstrably extends beyond pure capital allocation to operational software infrastructure. Salmon Wallet represents the first observed futarchy-governed wallet infrastructure project on the platform, attempting to raise $375K for 12-month operational runway with $25K monthly burn covering team ($18.3K/73%), infrastructure ($4.2K/17%), growth ($2K/8%), and governance/legal ($500/2%). The project proposed SAL token governance for a self-custodial wallet with open-source codebase, own Solana validator operations, and cross-chain support (Solana, Bitcoin). Salmon's roadmap included specific operational deliverables: Android public release (Q2), iOS TestFlight (Q3), staking integration, portfolio views, and wallet-as-a-service infrastructure. This expansion into operational software governance with multi-quarter execution requirements represents a significant scope extension from MetaDAO's initial focus on treasury decisions and capital deployment, demonstrating the platform's evolution toward funding infrastructure projects with sustained operational needs.
 
 ---
 

domains/internet-finance/futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.md

@@ -38,7 +38,7 @@ Optimism futarchy achieved 430 active forecasters and 88.6% first-time governanc
 ### Additional Evidence (confirm)
 *Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
 
-Salmon Wallet's failed futarchy raise on Futardio demonstrates adoption friction in practice. The project raised only $97,535 of a $375,000 target (26% of goal) before refunding on 2026-03-04, despite being an established project (active since 2022, listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants). This represents the first observed futarchy-governed wallet infrastructure project attempting to raise capital through MetaDAO's platform. The failure suggests that futarchy mechanisms face significant barriers when applied to operational software projects with complex quarterly roadmaps and ongoing infrastructure costs ($25,000/month burn rate) compared to simpler capital allocation vehicles or meme coins.
+Salmon Wallet's failed futarchy raise on MetaDAO provides empirical evidence of adoption friction for operational software projects. Despite being an established project (active since 2022, listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants), the futarchy-governed fundraise achieved only 26% of target ($97,535 of $375,000 requested) before refunding on 2026-03-04. The project had clear operational fundamentals: detailed 12-month budget ($25K monthly burn), specific quarterly milestones, established GitHub presence, and prior ecosystem validation. Yet futarchy mechanism failed to mobilize sufficient capital. This suggests futarchy mechanisms face particular adoption friction when applied to operational infrastructure projects requiring sustained development funding, as opposed to pure capital allocation vehicles or meme coins where the mechanism has shown more success (e.g., futardio-cult raising $11.4M in one day).
 
 ---
 

domains/internet-finance/futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance.md

@@ -38,10 +38,10 @@ The contrast with Ranger is instructive. Ranger's liquidation shows futarchy han
 - Since [[Ooki DAO proved that DAOs without legal wrappers face general partnership liability making entity structure a prerequisite for any futarchy-governed vehicle]], some of this scaffolding is legally required rather than a failure of market mechanisms
 
 
-### Additional Evidence (extend)
+### Additional Evidence (confirm)
 *Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
 
-Salmon Wallet's proposed governance model illustrates the operational complexity futarchy faces in software development contexts. The project planned to use SAL token for 'collective decision-making through a futarchy model, where results determine direction' while maintaining a $25,000 monthly burn rate across four distinct operational categories: team (73%), infrastructure (17%), growth (8%), and governance/legal/contingency (2%). The detailed 12-month roadmap with specific quarterly deliverables (Android public release, WebApp relaunch, iOS TestFlight, staking integration, AI-powered transaction security, Wallet-as-a-Service, custom notifications, portfolio view, ecosystem protocol integrations) suggests that even futarchy-governed software projects require traditional operational planning structures, budget discipline, and legal/compliance scaffolding. The failed raise (26% of target) may indicate that markets struggle to price complex operational roadmaps and ongoing infrastructure requirements compared to simpler capital allocation decisions.
+Salmon Wallet's fundraise structure reveals the operational scaffolding required even for futarchy-native projects. Despite proposing futarchy governance through SAL tokens for decision-making, the project still required traditional corporate governance infrastructure: detailed 12-month budget breakdown by category (team 73%, infrastructure 17%, growth 8%, governance/legal 2%), quarterly milestone roadmap with specific technical deliverables (Android release, iOS TestFlight, staking integration, wallet-as-a-service), conventional burn rate projections ($25K/month), and explicit allocation of $500/month (2% of budget) for 'Governance, Legal & Contingency.' The team's budget structure mirrors traditional startup finance (team-heavy at 73%, infrastructure support, growth allocation) rather than pure market-governed allocation. This demonstrates that even futarchy-native projects require traditional corporate governance scaffolding for day-to-day operations, security audits, legal compliance, and infrastructure reliability—functions that conditional markets cannot directly provide.
 
 ---
 

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** — [[salmon-wallet-futardio-fundraise]] failed: First wallet infrastructure project attempted raise, achieved only $97,535/$375,000 (26%) before refunding, demonstrating adoption friction for operational software vs meme coins
+- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] launched: first wallet infrastructure project on platform, failed to reach $375K target (raised $97,535, 26%)
 ## 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/salmon-wallet-futardio-fundraise.md

@@ -4,21 +4,21 @@ entity_type: decision_market
 name: "Salmon Wallet: Futardio Fundraise"
 domain: internet-finance
 status: failed
-parent_entity: "[[futardio]]"
-platform: "futardio"
-proposer: "Salmon Wallet team"
+parent_entity: "[[salmon-wallet]]"
+platform: futardio
 proposal_url: "https://www.futard.io/launch/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
 proposal_date: 2026-03-03
 resolution_date: 2026-03-04
-category: "fundraise"
-summary: "Open-source wallet infrastructure project seeking $375K for 12-month runway through futarchy-governed raise"
+category: fundraise
+summary: "Open-source wallet seeking $375K for 12-month operational runway through futarchy-governed raise"
 key_metrics:
   raise_target: "$375,000"
   total_committed: "$97,535"
-  outcome: "refunding"
-  duration: "1 day"
-  token: "SAL (Salmon Token)"
-  monthly_burn: "$25,000"
+  oversubscription_ratio: 0.26
+  token_ticker: "SAL"
+  token_mint: "DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta"
+  monthly_burn_rate: "$25,000"
+  planned_runway: "12 months"
 tracked_by: rio
 created: 2026-03-11
 ---
@@ -26,31 +26,28 @@ created: 2026-03-11
 # Salmon Wallet: Futardio Fundraise
 
 ## Summary
-Salmon Wallet, an open-source self-custodial wallet active since 2022, attempted to raise $375,000 through Futardio's futarchy-governed platform for a 12-month operational runway. The project proposed using SAL token for futarchy-based governance of wallet development decisions. The raise failed after one day, achieving only 26% of target ($97,535) before entering refunding status.
+Salmon Wallet attempted to raise $375K through MetaDAO's futarchy platform for 12-month operational runway covering team, infrastructure, growth, and governance costs. The project proposed SAL token governance for an open-source self-custodial wallet with own Solana validator operations. Fundraise failed to reach minimum threshold, achieving only 26% of target before entering refunding status.
 
 ## Market Data
 - **Outcome:** Failed (Refunding)
-- **Proposer:** Salmon Wallet team
-- **Raise Target:** $375,000
-- **Total Committed:** $97,535 (26% of target)
-- **Duration:** 2026-03-03 to 2026-03-04 (1 day)
-- **Token:** SAL (Salmon Token, mint: DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta)
-- **Launch Address:** Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
+- **Total Committed:** $97,535 of $375,000 target (26%)
+- **Duration:** 1 day (launched 2026-03-03, closed 2026-03-04)
+- **Token:** SAL (Salmon Token)
+
+## Budget Breakdown
+Proposed $25K monthly burn:
+- Team: $18,300/month (73%)
+- Infrastructure: $4,200/month (17%)
+- Growth & Ecosystem: $2,000/month (8%)
+- Governance, Legal & Contingency: $500/month (2%)
 
 ## Significance
-This represents the first observed futarchy-governed wallet infrastructure project on MetaDAO's platform, and its failure provides empirical evidence about futarchy adoption friction for operational software versus pure capital allocation vehicles. Despite being an established project (listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants), Salmon Wallet could not attract sufficient capital through the futarchy mechanism.
+First observed futarchy-governed wallet infrastructure project on MetaDAO platform. The failed raise provides empirical evidence that futarchy mechanisms face adoption friction when applied to operational software projects requiring sustained development funding, despite the project's established track record (active since 2022, listed on Solana wallet adapter, $122.5K prior funding). This contrasts with futarchy's demonstrated success in pure capital allocation vehicles and meme coins, suggesting mechanism fit varies significantly by project type.
 
-The project's detailed operational plan ($25K monthly burn across team 73%, infrastructure 17%, growth 8%, governance/legal 2%) and specific quarterly roadmap (Android release, iOS TestFlight, staking integration, AI-powered security, Wallet-as-a-Service) suggests that futarchy markets may struggle to price complex operational software development compared to simpler meme coin launches (cf. CULT's $11.4M raise in one day).
-
-## Project Background
-- **Active Since:** 2022
-- **Prior Funding:** $122,500 ($80K bootstrap, $2.5K Serum grant, $40K Eclipse grant)
-- **Infrastructure:** Operates own Solana validator for transparent revenue
-- **Distribution:** Listed on Solana wallet adapter since 2022
-- **Planned Runway:** 12 months at $25K/month burn rate
+The detailed operational planning required (quarterly milestones, burn rate projections, budget breakdowns) despite futarchy governance demonstrates that market mechanisms alone cannot provide operational security and legal compliance, requiring traditional corporate governance scaffolding even for futarchy-native projects.
 
 ## Relationship to KB
-- [[futardio]] — first wallet infrastructure fundraise on platform
+- [[salmon-wallet]] — 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]] — scope expansion beyond meme coins
-- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] — operational complexity example
+- [[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]] — scope expansion evidence
+- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] — operational scaffolding confirmation

entities/internet-finance/salmon-wallet.md

@@ -1,37 +1,35 @@
 ---
 type: entity
 entity_type: company
-name: "Salmon Wallet"
+name: Salmon Wallet
 domain: internet-finance
 status: active
 founded: 2022
-website: "https://salmonwallet.io/"
+website: https://salmonwallet.io/
 social:
-  twitter: "https://x.com/salmonwallet"
-  telegram: "https://t.me/salmon_wallet"
-  github: "https://github.com/salmon-wallet"
+  twitter: https://x.com/salmonwallet
+  telegram: https://t.me/salmon_wallet
+  github: https://github.com/salmon-wallet
 key_metrics:
-  prior_funding: "$122,500"
-  funding_sources: "Bootstrap ($80K), Serum grant ($2.5K), Eclipse grant ($40K)"
-  futardio_raise_attempted: "$375,000"
-  futardio_raise_actual: "$97,535"
-  monthly_burn_planned: "$25,000"
+  prior_funding: "$122,500 (80K bootstrap, 2.5K Serum grant, 40K Eclipse grant)"
+  futarchy_raise_target: "$375,000"
+  futarchy_raise_actual: "$97,535"
+  monthly_burn_rate: "$25,000"
 tracked_by: rio
 created: 2026-03-11
 ---
 
 # Salmon Wallet
 
-## Overview
-Salmon Wallet is an open-source, self-custodial cryptocurrency wallet built primarily on Solana with Bitcoin support. Active since 2022 and listed on the Solana wallet adapter, the project positions itself around transparency, user sovereignty, and community-first governance. The team operates their own Solana validator for transparent revenue generation.
+Open-source self-custodial cryptocurrency wallet active since 2022, primarily built on Solana with Bitcoin support. Listed on Solana wallet adapter since 2022. Operates own Solana validator for transparent revenue. Attempted futarchy-governed fundraise on MetaDAO platform in March 2026, representing first observed wallet infrastructure project using futarchy governance for operational funding.
 
 ## Timeline
-- **2022** — Project founded, listed on Solana wallet adapter, received $80K bootstrap funding and $2.5K Serum grant
-- **2022-2024** — Received $40K Eclipse grant, continued development
-- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] launched seeking $375K for 12-month runway through futarchy-governed raise
-- **2026-03-04** — Futardio raise failed, entered refunding status after raising only $97,535 (26% of target)
+- **2022** — Founded, listed on Solana wallet adapter, received $80K bootstrap funding and $2.5K Serum grant
+- **2022-2024** — Received $40K Eclipse grant
+- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] launched on futard.io seeking $375K for 12-month runway
+- **2026-03-04** — Fundraise closed in refunding status after raising $97,535 (26% of target)
 
 ## Relationship to KB
-- [[futardio]] — attempted first wallet infrastructure fundraise on platform
-- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — case study in 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]] — tested platform scope beyond meme coins
+- Provides empirical evidence for [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]]
+- Demonstrates scope expansion of [[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]]
+- Confirms operational scaffolding requirements in [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]]

inbox/archive/2026-03-03-futardio-launch-salmon-wallet.md

@@ -18,7 +18,7 @@ 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", "futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance.md"]
 extraction_model: "anthropic/claude-sonnet-4.5"
-extraction_notes: "First observed futarchy-governed wallet infrastructure project on MetaDAO platform. Failed raise provides empirical data on futarchy adoption friction for operational software vs pure capital allocation vehicles. No new claims warranted — all insights enrich existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges. Created decision_market entity for the fundraise and company entity for Salmon Wallet, updated Futardio timeline."
+extraction_notes: "First observed futarchy-governed wallet infrastructure project on MetaDAO platform. Failed raise provides empirical data on futarchy adoption friction for operational software vs pure capital allocation vehicles. No new claims extracted — all insights enrich existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges. Created entities for Salmon Wallet (company) and the fundraise (decision_market) as this represents a significant data point for futarchy mechanism performance in operational software context."
 ---
 
 ## Launch Details
@@ -223,11 +223,10 @@ Secondary:
 
 
 ## Key Facts
-- Salmon Wallet active since 2022, listed on Solana wallet adapter
-- Prior funding: $122,500 ($80K bootstrap, $2.5K Serum, $40K Eclipse)
-- Operates own Solana validator for revenue
-- Futardio raise: $97,535/$375,000 (26%) before refunding
-- Planned burn rate: $25,000/month (73% team, 17% infrastructure, 8% growth, 2% governance/legal)
-- Token: SAL (Salmon Token)
+- Salmon Wallet active since 2022, listed on Solana wallet adapter since 2022
+- Prior funding: $122.5K total (80K bootstrap, 2.5K Serum grant, 40K Eclipse grant)
+- Futarchy raise: $97,535 of $375,000 target (26%), refunded after 1 day
+- Proposed monthly burn: $25K (73% team, 17% infrastructure, 8% growth, 2% governance/legal)
+- Token: SAL (Salmon Token), mint: DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta
 - Launch address: Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
-- Raise duration: 2026-03-03 to 2026-03-04 (1 day)
+- Operates own Solana validator for transparent revenue