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

@@ -82,12 +82,6 @@ Futardio cult launch (2026-03-03 to 2026-03-04) demonstrates MetaDAO's platform
 
 (challenge) Areal's failed Futardio launch ($11,654 raised of $50K target, REFUNDING status) demonstrates that futarchy-governed fundraising does not guarantee capital formation success. The mechanism provides credible exit guarantees through market-governed liquidation and governance quality through conditional markets, but market participants still evaluate project fundamentals and team credibility. Futarchy reduces rug risk but does not eliminate market skepticism of unproven business models or early-stage teams.
 
-
-### 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 demonstrably extends beyond pure capital allocation vehicles to operational software infrastructure. Salmon Wallet represents the first observed futarchy-governed wallet infrastructure project on the platform, attempting to raise $375,000 for 12-month operational runway with detailed budget breakdown: team ($18,300/mo, 73%), infrastructure ($4,200/mo, 17%), growth ($2,000/mo, 8%), governance/legal/contingency ($500/mo, 2%). The project proposed futarchy governance via SAL token for collective decision-making, positioning as 'truly unruggable project, secure against manipulation.' However, the raise failed (refunding status after raising only 26% of target), providing empirical data on platform adoption limits for operational software versus pure capital allocation vehicles. This extends the existing claim by showing MetaDAO's scope includes infrastructure projects but also reveals platform constraints in converting that scope into successful raises.
-
 ---
 
 Relevant Notes:

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

@@ -34,12 +34,6 @@ MycoRealms implementation reveals operational friction points: monthly $10,000 a
 
 Optimism futarchy achieved 430 active forecasters and 88.6% first-time governance participants by using play money, demonstrating that removing capital requirements can dramatically lower participation barriers. However, this came at the cost of prediction accuracy (8x overshoot on magnitude estimates), revealing a new friction: the play-money vs real-money tradeoff. Play money enables permissionless participation but sacrifices calibration; real money provides calibration but creates regulatory and capital barriers. This suggests futarchy adoption faces a structural dilemma between accessibility and accuracy that liquidity requirements alone don't capture. The tradeoff is not merely about quantity of liquidity but the fundamental difference between incentive structures that attract participants vs incentive structures that produce accurate predictions.
 
-
-### 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 provides empirical evidence of adoption friction in operational software contexts. The project raised only $97,535 against a $375,000 target (26% of goal) before refunding on 2026-03-04, one day after launch. This is a mature project (active since 2022, listed on Solana wallet adapter since 2022, $122.5K prior funding from bootstrap and grants) with demonstrated product-market fit attempting futarchy governance for operational wallet infrastructure, not a speculative meme coin. The rapid failure suggests futarchy mechanisms face significant friction even for legitimate projects with established track records and clear operational use cases, supporting the hypothesis that adoption barriers extend beyond theoretical mechanism design to include practical friction from token price psychology, proposal complexity, and liquidity constraints.
-
 ---
 
 Relevant Notes:

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

@@ -37,12 +37,6 @@ The contrast with Ranger is instructive. Ranger's liquidation shows futarchy han
 - The subcommittee model introduces trusted roles that could recentralize power over time, undermining the trustless property that makes futarchy valuable
 - 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 (confirm)
-*Source: [[2026-03-03-futardio-launch-salmon-wallet]] | Added: 2026-03-12 | Extractor: anthropic/claude-sonnet-4.5*
-
-Salmon Wallet's budget structure reveals traditional operational scaffolding embedded within futarchy governance framework: explicit line items for team ($18,300/mo), infrastructure ($4,200/mo), growth ($2,000/mo), and notably governance/legal/contingency ($500/mo, 2% of budget). The project acknowledges legal and governance requirements as a distinct operational cost category, not subsumed within market mechanisms. Additionally, Salmon Wallet operates its own Solana validator 'ensuring transparent and verifiable income directly aligned with the ecosystem'—a traditional revenue-generating operational asset requiring ongoing management, infrastructure maintenance, and compliance oversight that extends beyond what conditional markets alone can govern. This confirms that even futarchy-governed projects with strong ideological commitment to market-based decision-making must layer traditional corporate governance structures for legal compliance, operational security, and revenue infrastructure.
-
 ---
 
 Relevant Notes:

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]] launched seeking $375K for wallet infrastructure, failed after raising $97,535 (26% of target)
+- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] failed: first wallet infrastructure project raised $97,535/$375K (26%) before refunding, demonstrating adoption friction for operational software vs speculative assets
 ## 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

@@ -10,15 +10,15 @@ proposal_url: "https://www.futard.io/launch/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SW
 proposal_date: 2026-03-03
 resolution_date: 2026-03-04
 category: fundraise
-summary: "Open-source wallet seeking $375K for 12-month operational runway through futarchy-governed raise"
+summary: "Open-source wallet governance fundraise seeking $375K for 12-month operational runway, failed at $97,535 (26% of target)"
 key_metrics:
   raise_target: "$375,000"
   total_committed: "$97,535"
-  oversubscription_ratio: 0.26
+  raise_percentage: "26%"
   token: "SAL (Salmon Token)"
   token_mint: "DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta"
   launch_address: "Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
-  monthly_burn: "$25,000"
+  monthly_burn_rate: "$25,000"
   planned_runway: "12 months"
 tracked_by: rio
 created: 2026-03-11
@@ -27,32 +27,38 @@ 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 for 12-month operational runway. The raise failed after one day, achieving only 26% of target ($97,535) before entering refunding status. This represents the first observed futarchy-governed wallet infrastructure project on MetaDAO's platform, distinct from prior meme coin or pure capital allocation launches.
+Salmon Wallet launched a futarchy-governed fundraise on Futardio seeking $375,000 minimum raise for 12-month operational runway. The project raised $97,535 (26% of target) before entering refund status within one day. This represents the first observed futarchy-governed wallet infrastructure project and provides empirical data on adoption friction for operational software versus speculative assets on the MetaDAO platform.
 
 ## Market Data
 - **Outcome:** Failed (Refunding)
-- **Raise Target:** $375,000
-- **Total Committed:** $97,535 (26% of target)
 - **Launch Date:** 2026-03-03
-- **Closed Date:** 2026-03-04
+- **Close Date:** 2026-03-04
+- **Raise Target:** $375,000 (minimum)
+- **Total Committed:** $97,535
+- **Raise Percentage:** 26%
 - **Token:** SAL (Salmon Token)
 - **Platform:** Futardio v0.7
 
-## Budget Breakdown
-- **Monthly Burn:** $25,000
-- Team: $18,300/mo (73%)
-- Infrastructure: $4,200/mo (17%)
-- Growth & Ecosystem: $2,000/mo (8%)
-- Governance, Legal & Contingency: $500/mo (2%)
+## Use of Funds Plan
+Detailed 12-month execution plan with $25K monthly burn:
+- **Team:** $18,300/month (73%)
+- **Infrastructure:** $4,200/month (17%) — RPC reliability, validator operations, backend services
+- **Growth & Ecosystem:** $2,000/month (8%) — user acquisition, partnerships, community-led growth
+- **Governance, Legal & Contingency:** $500/month (2%)
+
+**Roadmap:**
+- Q2-2026: Android public release, WebApp relaunch, signing flow integration
+- Q3-2026: iOS TestFlight release, staking integration, AI-powered transaction security
+- Q4-2026: Custom notification system, portfolio view, ecosystem protocol integrations
+- Q1-2027: Cross-platform optimization, additional integrations
 
 ## Significance
-First empirical failure case for futarchy-governed operational software infrastructure (vs meme coins or investment vehicles). Project had legitimate credentials: 4 years operational history, listed on Solana wallet adapter since 2022, $122.5K prior funding, own validator operations. The 74% funding shortfall after one day suggests futarchy mechanisms face significant adoption friction even for established projects with real product-market fit, not just speculative launches.
+First futarchy-governed wallet infrastructure fundraise provides empirical data on adoption friction for operational software projects. Despite operational credibility (active since 2022, Solana wallet adapter listing, $122.5K prior funding, own validator operations), the raise failed to attract sufficient capital through futarchy mechanisms. This contrasts sharply with Cult's $11.4M single-day raise on the same platform, suggesting market participants are more comfortable using futarchy for speculative meme coins than for operational software with complex execution risk.
 
-Provides concrete data point on [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] - a mature operational project with clear use case and budget failed to attract sufficient capital through futarchy governance model.
+The failure occurred on MetaDAO's established Futardio platform, indicating friction is not attributable to platform immaturity but to fundamental adoption barriers for certain project categories.
 
 ## Relationship to KB
-- [[salmon-wallet]] - parent entity
-- [[futardio]] - launch platform
-- [[metadao]] - governance mechanism provider
-- Empirical evidence for [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]]
-- Budget structure demonstrates [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]]
+- [[salmon-wallet]] — parent entity
+- [[futardio]] — fundraising platform
+- [[salmon-wallet-futarchy-raise-failed-at-26-percent-of-target-demonstrating-adoption-friction-for-operational-software-projects]] — analysis of failed raise
+- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — broader adoption friction context

entities/internet-finance/salmon-wallet.md

@@ -5,30 +5,33 @@ name: Salmon Wallet
 domain: internet-finance
 status: active
 founded: 2022
-platform: Solana, Bitcoin
+website: https://salmonwallet.io/
+social:
+  twitter: https://x.com/salmonwallet
+  telegram: https://t.me/salmon_wallet
+  github: https://github.com/salmon-wallet
 key_metrics:
-  prior_funding: "$122,500 (80K bootstrap, 2.5K Serum grant, 40K Eclipse grant)"
-  futardio_raise_target: "$375,000"
-  futardio_raise_actual: "$97,535"
-  monthly_burn: "$25,000"
-  wallet_adapter_listed: "2022"
+  prior_funding: "$122,500 (2022-2024)"
+  bootstrap_funding: "$80,000 (2022)"
+  grant_funding: "$42,500 (Serum $2,500, Eclipse $40,000)"
+  futarchy_raise_target: "$375,000"
+  futarchy_raise_actual: "$97,535"
+  monthly_burn_rate: "$25,000"
 tracked_by: rio
 created: 2026-03-11
 ---
 
 # Salmon Wallet
 
-Open-source, self-custodial cryptocurrency wallet built primarily on Solana with Bitcoin support. Active since 2022, listed on Solana wallet adapter. Attempted futarchy-governed fundraise via Futardio in March 2026, raising $97,535 against $375,000 target before refunding. Operates own Solana validator for transparent revenue. Positions as community-governed alternative to corporate wallets with SAL token enabling futarchy-based collective decision-making.
+Open-source, self-custodial cryptocurrency wallet built primarily on Solana with Bitcoin support. Active since 2022, listed on Solana wallet adapter. Attempted futarchy-governed fundraise on Futardio (2026-03-03) seeking $375K for 12-month operational runway, raised $97,535 before entering refund status. Operates own Solana validator for transparent revenue. Governance through SAL token using futarchy model.
 
 ## Timeline
-- **2022** — Salmon Wallet founded, listed on Solana wallet adapter
-- **2022** — Received $80,000 bootstrap funding
-- **2022-2024** — Received $42,500 in grants (Serum: $2,500, Eclipse: $40,000)
-- **2026-03-03** — [[salmon-wallet-futardio-fundraise]] launched on Futardio seeking $375,000
-- **2026-03-04** — Futardio raise closed with refunding status after raising $97,535 (26% of target)
+- **2022** — Founded, bootstrapped with $80K, received $2.5K Serum grant, listed on Solana wallet adapter
+- **2022-2024** — Received $40K Eclipse grant, total grant funding $42.5K
+- **2026-03-03** — Launched futarchy-governed fundraise on Futardio seeking $375K minimum raise
+- **2026-03-04** — Fundraise closed in refund status with $97,535 raised (26% of minimum target)
 
 ## Relationship to KB
-- First observed futarchy-governed wallet infrastructure project
-- Failed raise provides empirical data on [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]]
-- Budget structure demonstrates [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]]
-- Launched on [[futardio]] platform, governed by [[metadao]] mechanisms
+- [[futardio]] — fundraising platform
+- [[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]] — platform context
+- [[salmon-wallet-futarchy-raise-failed-at-26-percent-of-target-demonstrating-adoption-friction-for-operational-software-projects]] — failed raise analysis

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

@@ -16,9 +16,9 @@ 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. Enriches existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges."
 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"]
+enrichments_applied: ["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 adoption faces friction from token price psychology proposal complexity and liquidity requirements.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 novel claims - all insights enrich existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges. Created two new entities: Salmon Wallet (company) and the fundraise decision market."
+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. Enriches existing claims about MetaDAO scope expansion, adoption barriers, and operational governance challenges. Created new entity for Salmon Wallet and decision_market entity for the fundraise. Single data point limits generalizability but provides valuable empirical evidence for existing adoption friction claims."
 ---
 
 ## Launch Details
@@ -225,7 +225,9 @@ Secondary:
 ## Key Facts
 - Salmon Wallet active since 2022, listed on Solana wallet adapter since 2022
 - Prior funding: $80K bootstrap (2022), $2.5K Serum grant, $40K Eclipse grant
-- Futardio raise: $97,535 raised of $375,000 target (26%), refunded 2026-03-04
-- Planned monthly burn: $25,000 (73% team, 17% infrastructure, 8% growth, 2% governance/legal)
+- Operates own Solana validator for transparent revenue
+- Futarchy raise: $97,535 raised vs $375,000 minimum target (26%)
+- Launch address: Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF
 - Token: SAL (Salmon Token), mint: DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta
-- Operates own Solana validator for revenue
+- Planned monthly burn: $25,000 for 12-month runway
+- Budget breakdown: 73% team, 17% infrastructure, 8% growth, 2% governance/legal/contingency