diff --git a/decisions/internet-finance/metadao-ranger-finance-liquidation.md b/decisions/internet-finance/metadao-ranger-finance-liquidation.md
new file mode 100644
index 000000000..c4ff6b5e0
--- /dev/null
+++ b/decisions/internet-finance/metadao-ranger-finance-liquidation.md
@@ -0,0 +1,78 @@
+---
+type: decision
+domain: internet-finance
+parent_entity: metadao
+status: passed
+category: liquidation
+date: 2026-03-13
+title: Ranger Finance Liquidation
+created: 2026-03-24
+---
+
+# Ranger Finance Liquidation
+
+**Parent:** [[metadao]]
+**Status:** Passed
+**Date:** March 13, 2026
+**Category:** Liquidation
+
+## Decision
+
+MetaDAO's futarchy governance voted to liquidate Ranger Finance following documented material misrepresentation during its ICO, returning $5,047,250 USDC to unlocked RNGR token holders.
+
+## Background
+
+Ranger Finance raised ~$8M+ through MetaDAO's ICO platform. During fundraising, the team made specific performance claims:
+- $5 billion in trading volume by 2025
+- $2 million in revenue by 2025
+
+Blockchain data revealed actual performance significantly underperformed these claims:
+- ~$2 billion in trading volume (~40% of claimed)
+- ~$500K in revenue (~25% of claimed)
+
+RNGR token holders filed challenges citing material misrepresentation.
+
+## Governance Process
+
+Futarchy conditional markets evaluated the liquidation proposal. According to unverified telegram sources, the decision had:
+- 97% support
+- $581K traded on conditional markets
+
+This would represent the highest-volume governance decision in MetaDAO history for a single-project matter.
+
+## Outcome
+
+**Passed with strong consensus**
+
+**Liquidation terms:**
+- $5,047,250 USDC removed from treasury and liquidity pool
+- Distribution: ~$0.75–$0.82/token book value
+- Eligible recipients: All unlocked RNGR holders
+- Wallet snapshot: March 13, 2026, 8:00 AM UTC+8
+- Liquidation portal launched: March 17, 2026
+- Intellectual property returned to Glint House PTE (founding team)
+
+## Significance
+
+This is the second successful futarchy-governed liquidation at MetaDAO (after mtnCapital in September 2025), establishing a two-case empirical pattern for the "Unruggable ICO" protection mechanism.
+
+The case demonstrates:
+1. **Post-discovery enforcement works:** Futarchy governance successfully enforced capital return after misrepresentation was discovered
+2. **Pre-launch filtering failed:** The mechanism did not prevent false claims from reaching TGE, consistent with thin early markets having limited ability to surface off-chain information about team quality
+3. **Minority protection:** Token holders successfully forced liquidation against a team with information advantage
+
+## Mechanism Insight
+
+The Ranger liquidation reveals a scope distinction in futarchy's "Unruggable ICO" protection:
+- **Governance enforcement:** Strong — markets can force capital return when misrepresentation is discovered
+- **Pre-launch due diligence:** Weak — early-stage quality filtering does not prevent misrepresentation from reaching TGE
+
+The mechanism is better at enforcing governance decisions than at doing due diligence.
+
+## Sources
+
+- Phemex News, March 2026
+- CryptoTimes, March 2026
+- Bitget News, March 2026
+- defiprime (on-chain confirmation tweet)
+- Telegram community sources (unverified)
diff --git a/inbox/queue/2026-03-23-ranger-finance-metadao-liquidation-5m-usdc.md b/inbox/queue/2026-03-23-ranger-finance-metadao-liquidation-5m-usdc.md
index 59cf1ce31..3ec24fb3a 100644
--- a/inbox/queue/2026-03-23-ranger-finance-metadao-liquidation-5m-usdc.md
+++ b/inbox/queue/2026-03-23-ranger-finance-metadao-liquidation-5m-usdc.md
@@ -7,9 +7,12 @@ date: 2026-03-13
 domain: internet-finance
 secondary_domains: []
 format: governance-outcome
-status: unprocessed
+status: processed
 priority: high
 tags: [metadao, futarchy, liquidation, ranger-finance, trustless-joint-ownership, governance]
+processed_by: rio
+processed_date: 2026-03-24
+extraction_model: "anthropic/claude-sonnet-4.5"
 ---
 
 ## Content
@@ -62,3 +65,15 @@ The "Unruggable ICO" protection mechanism operated as designed for the misrepres
 PRIMARY CONNECTION: [[Futarchy solves trustless joint ownership not just better decision-making]]
 WHY ARCHIVED: Second successful futarchy-governed capital return — key evidence for Belief #3 upgrade from "early directional" to "likely"
 EXTRACTION HINT: Focus on the two-case pattern and the scope distinction (governance enforcement vs. pre-launch due diligence). The misrepresentation pre-launch and the successful liquidation post-discovery are different mechanism functions.
+
+
+## Key Facts
+- Ranger Finance raised ~$8M+ through MetaDAO ICO platform
+- Ranger Finance claimed $5B trading volume and $2M revenue targets by 2025
+- Actual Ranger Finance performance: ~$2B volume (~40% of claimed), ~$500K revenue (~25% of claimed)
+- Ranger Finance liquidation returned $5,047,250 USDC to token holders
+- Ranger Finance liquidation distribution: ~$0.75–$0.82/token book value
+- Ranger Finance wallet snapshot: March 13, 2026, 8:00 AM UTC+8
+- Ranger Finance liquidation portal launched: March 17, 2026
+- All Ranger Finance IP returned to Glint House PTE
+- Unverified telegram claim: 97% support, $581K traded on Ranger liquidation conditional markets