6 changed files with 51 additions and 264 deletions
--- a/domains/internet-finance/MetaDAO
+++ b/domains/internet-finance/MetaDAO
@ -1,92 +0,0 @@
 ---
 description: Marshall Islands DAO LLC operating a Cayman SPC that houses all launched projects as SegCos -- platform not participant positioning with sole Director control and MetaLeX partnership automating entity formation
 type: analysis
 domain: internet-finance
 created: 2026-03-04
 confidence: likely
 source: "MetaDAO Terms of Service, Founder/Operator Legal Pack, inbox research files, web research"
 ---
 # 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
 MetaDAO is the platform that makes futarchy governance practical for token launches and ongoing project governance. It is currently the only launchpad where every project gets futarchy governance from day one, and where treasury spending is structurally constrained through conditional markets rather than discretionary team control.
 **What MetaDAO is.** A futarchy-as-a-service platform on Solana. Projects apply, get evaluated via futarchy proposals, raise capital through STAMP agreements, and launch with futarchy governance embedded. Since [[MetaDAOs Cayman SPC houses all launched projects as ring-fenced SegCos under a single entity with MetaDAO LLC as sole Director]], the platform provides both the governance mechanism and the legal chassis.
 **The entity.** MetaDAO LLC is a Republic of the Marshall Islands DAO limited liability company (852 Lagoon Rd, Majuro, MH 96960). It serves as sole Director of the Futarchy Governance SPC (Cayman Islands). Contact: kollan@metadao.fi. Kollan House (known as "Nallok" on social media) is the key operator.
 **Token economics.** $META was created in November 2023 with an initial distribution via airdrop to aligned parties -- 10,000 tokens distributed with 990,000 remaining in the DAO treasury. The distribution was explicitly designed as high-float with no privileged VC rounds ("no sweetheart VC deals"). As of early 2026: ~23M circulating supply, ~$3.78 per token, ~$86M market cap. In Q4 2025, MetaDAO raised $10M via a futarchy-approved OTC token sale of up to 2M META, with proceeds going directly to treasury and all transactions disclosed within 24 hours.
 **Q4 2025 financials (Pine Analytics quarterly report).** This was the breakout quarter:
 - Total equity: $16.5M (up from $4M in Q3)
 - Fee revenue: $2.51M from Futarchy AMM and Meteora pools — first-ever operating income
 - Futarchy protocols: expanded from 2 to 8
 - Total futarchy marketcap: $219M across all launched projects
 - Six ICOs launched in Q4, raising $18.7M total volume
 - Quarterly burn: $783K → 15 quarters runway
 - Launchpad revenue estimated at $21M for 2026 (base case)
 **Standard token issuance template:** 10M token base issuance + 2M AMM + 900K Meteora + performance package. Projects customize within this framework.
 **Unruggable ICO model.** MetaDAO's innovation is the "unruggable ICO" -- initial token sales where everyone participates at the same price with no privileged seed or private rounds. Combined with STAMP spending allowances and futarchy governance, this prevents the treasury extraction that killed legacy ICOs. Since [[STAMP replaces SAFE plus token warrant by adding futarchy-governed treasury spending allowances that prevent the extraction problem that killed legacy ICOs]], the investment instrument and governance are designed as a system.
 **Ecosystem (launched projects as of early 2026):**
 - **MetaDAO** ($META) — the platform itself
 - **Ranger Finance** ($RNGR) — perps aggregator, Cayman SPC path
 - **Solomon Labs** ($SOLO) — USDv stablecoin, Marshall Islands path
 - **Omnipair** ($OMFG) — generalized AMM, permissionless margin
 - **Umbra** (UMBRA) — privacy-preserving finance (Arcium connection)
 - **Avici** (AVICI) — crypto-native bank, stablecoin Visa
 - **Loyal** (LOYAL) — decentralized AI reasoning
 - **ZKLSOL** (ZKLSOL) — ZK liquid staking mixer
 Raises include: Ranger ($6M minimum, uncapped), Solomon ($102.9M committed, $8M taken), others varying in size.
 **Platform not participant positioning.** MetaDAO's Terms of Service explicitly disclaim participation in the raises. But the structural power is real: as sole Director of the Cayman SPC, MetaDAO controls the master entity housing every SegCo project. "Platform not participant" is legally accurate but structurally incomplete.
 **Futarchy as a Service (FaaS).** In May 2024, MetaDAO launched FaaS allowing other DAOs (Drift, Jito, Sanctum, among others) to use its futarchy tools for governance decisions -- extending beyond just token launches to ongoing DAO governance.
 **Permissionless launches (futard.io).** In February 2026, MetaDAO announced a separate brand — @futarddotio — for permissionless token launches, explicitly to manage "reputational liability." This creates a two-tier system: curated launches under MetaDAO, permissionless launches under futard.io. Since [[futarchy-governed permissionless launches require brand separation to manage reputational liability because failed projects on a curated platform damage the platforms credibility]], this is a structural concession that pure permissionlessness and brand credibility are in tension.
 **Feb 2026 ecosystem update (metaproph3t "Learning, Fast").** $36M treasury value. $48M in launched project market cap. Three buyback proposals executed (Paystream Labs, Ranger Finance, Turbine Cash). Hurupay attempted $3-6M raise but attracted only ~$900k in real demand — the gap between committed ($2M) and real demand reveals a commitment-to-conversion problem. Mint Governor smart contract in audit for dynamic performance-based token minting.
 **Competitive outperformance (Q4 2025).** MetaDAO's Q4 performance diverged sharply from the broader market. Crypto marketcap fell 25% ($4T → $2.98T), Pump.fun tokenization dropped 40%, and Fear & Greed Index fell to 62. Competing launchpad Metaplex Genesis managed only 3 launches raising $5.4M (down from 5/$7.53M). MetaDAO delivered 6 launches/$18.7M — "capturing share of a shrinking pie rather than simply riding market tailwinds" (Pine Analytics Q4 Report). Non-META futarchy marketcap reached $69M with net appreciation of $40.7M beyond initial capital deployment. Revenue split: 54% Futarchy AMM, 46% Meteora LP.
 **Permissionless launches (futard.io, live Mar 2026).** In its first 2 days, futard.io saw 34 ICOs created, $15.6M in deposits from 929 wallets, and 2 DAOs reaching funding thresholds. The 5.9% success rate (2/34) is the market mechanism acting as quality filter — only projects attracting genuine capital survive. This is 34 launch attempts in 2 days vs 6 curated launches in all of Q4 — permissionless unlocks massive throughput. Pine Analytics noted "people are reluctant to be the first to put money into these raises" — first-mover hesitancy is a coordination problem that brand separation doesn't solve but the market mechanism eventually clears.
 **Treasury deployment (Mar 2026).** @oxranga proposed formation of a DAO treasury subcommittee with $150k legal/compliance budget as staged path to deploy the DAO treasury — the first concrete governance proposal to operationalize treasury management with institutional scaffolding.
 **MetaLeX partnership.** Since [[MetaLex BORG structure provides automated legal entity formation for futarchy-governed investment vehicles through Cayman SPC segregated portfolios with on-chain representation]], the go-forward infrastructure automates entity creation. MetaLeX services are "recommended and configured as default" but not mandatory. Economics: $150K advance + 7% of platform fees for 3 years per BORG.
 **Institutional validation (Feb 2026).** Theia Capital holds MetaDAO specifically for "prioritizing investors over teams" — identifying this as the competitive moat that creates network effects and switching costs in token launches. Theia describes MetaDAO as addressing "the Token Problem" (the lemon market dynamic in token launches). This is significant because Theia is a rigorous, fundamentals-driven fund using Kelly Criterion sizing and Bayesian updating — not a momentum trader. Their MetaDAO position is a structural bet on the platform's competitive advantage, not a narrative trade. (Source: Theia 2025 Annual Letter, Feb 12 2026)
 **Why MetaDAO matters for Living Capital.** Since [[Living Capital vehicles pair Living Agent domain expertise with futarchy-governed investment to direct capital toward crucial innovations]], MetaDAO is the existing platform where Rio's fund would launch. The entire legal + governance + token infrastructure already exists. The question is not whether to build this from scratch but whether MetaDAO's existing platform serves Living Capital's needs well enough -- or whether modifications are needed.
 **Three-tier dispute resolution:** Protocol decisions via futarchy (on-chain), technical disputes via review panel, legal disputes via JAMS arbitration (Cayman Islands). The layered approach means on-chain governance handles day-to-day decisions while legal mechanisms provide fallback. Since [[MetaDAOs three-layer legal hierarchy separates formation agreements from contractual relationships from regulatory armor with each layer using different enforcement mechanisms]], the governance and legal structures are designed to work together.
 ### Additional Evidence (extend)
 *Source: [[2026-01-01-futardio-launch-mycorealms]] | Added: 2026-03-11 | Extractor: anthropic/claude-sonnet-4.5*
 MycoRealms launch on Futardio demonstrates MetaDAO platform capabilities in production: $125,000 USDC raise with 72-hour permissionless window, automatic treasury deployment if target reached, full refunds if target missed. Launch structure includes 10M ICO tokens (62.9% of supply), 2.9M tokens for liquidity provision (2M on Futarchy AMM, 900K on Meteora pool), with 20% of funds raised ($25K) paired with LP tokens. First physical infrastructure project (mushroom farm) using the platform, extending futarchy governance from digital to real-world operations with measurable outcomes (temperature, humidity, CO2, yield).
 ### Additional Evidence (extend)
 *Source: [[2026-03-03-futardio-launch-futardio-cult]] | Added: 2026-03-11 | Extractor: anthropic/claude-sonnet-4.5*
 Futardio cult launch (2026-03-03 to 2026-03-04) demonstrates MetaDAO's platform supports purely speculative meme coin launches, not just productive ventures. The project raised $11,402,898 against a $50,000 target in under 24 hours (22,706% oversubscription) with stated fund use for 'fan merch, token listings, private events/partys'—consumption rather than productive infrastructure. This extends MetaDAO's demonstrated use cases beyond productive infrastructure (Myco Realms mushroom farm, $125K) to governance-enhanced speculative tokens, suggesting futarchy's anti-rug mechanisms appeal across asset classes.
 ---
 Relevant Notes:
 - [[MetaDAOs Cayman SPC houses all launched projects as ring-fenced SegCos under a single entity with MetaDAO LLC as sole Director]] -- the legal structure housing all projects
 - [[MetaDAOs Autocrat program implements futarchy through conditional token markets where proposals create parallel pass and fail universes settled by time-weighted average price over a three-day window]] -- the governance mechanism
 - [[STAMP replaces SAFE plus token warrant by adding futarchy-governed treasury spending allowances that prevent the extraction problem that killed legacy ICOs]] -- the investment instrument
 - [[MetaLex BORG structure provides automated legal entity formation for futarchy-governed investment vehicles through Cayman SPC segregated portfolios with on-chain representation]] -- the automated legal infrastructure
 - [[MetaDAOs three-layer legal hierarchy separates formation agreements from contractual relationships from regulatory armor with each layer using different enforcement mechanisms]] -- the legal architecture
 - [[two legal paths through MetaDAO create a governance binding spectrum from commercially reasonable efforts to legally binding and determinative]] -- the governance binding options
 - [[Living Capital vehicles pair Living Agent domain expertise with futarchy-governed investment to direct capital toward crucial innovations]] -- why MetaDAO matters for Living Capital
 Topics:
 - [[internet finance and decision markets]]
 - [[LivingIP architecture]]
--- a/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md
+++ b/domains/internet-finance/myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md
@ -1,48 +0,0 @@
 ---
 type: claim
 domain: internet-finance
 description: "First futarchy-governed agricultural operation using conditional markets for capital deployment decisions"
 confidence: experimental
 source: "MycoRealms launch on Futardio, 2026-01-01"
 created: 2026-01-01
 secondary_domains: [mechanisms]
 ---
 # MycoRealms demonstrates futarchy-governed physical infrastructure through $125K mushroom farm raise with market-controlled CAPEX deployment
 MycoRealms is the first attempted application of futarchy governance to real-world physical infrastructure, raising $125,000 USDC to build a mushroom farming operation where all capital expenditures beyond a $10,000 monthly allowance require conditional market approval. The first post-raise proposal will be a $50,000 CAPEX withdrawal for construction and infrastructure, which must pass through decision markets before funds deploy.
 The team cannot access the treasury directly — they operate on a defined monthly allowance with any expenditure beyond that requiring a futarchy proposal and market approval. Every invoice, expense, harvest record, and operational photo will be published on a public operations ledger via Arweave.
 This extends futarchy from digital governance to physical operations with measurable variables (temperature, humidity, CO2, yield) that can be transparently reported and verified. The project tests whether decentralized governance can coordinate real-world production at the scale of a commercial farming operation, though no precedent exists for this application.
 ## Evidence
 - MycoRealms raising $125,000 USDC on Futardio (MetaDAO platform) with 72-hour permissionless raise window
 - First proposal post-raise: $50,000 USD CAPEX withdrawal requiring decision market passage before deployment
 - Monthly treasury allowance: $10,000 (all expenditures beyond this require futarchy approval)
 - Team has zero direct treasury access — operates only on allowance
 - All operational data (invoices, expenses, harvest records, photos) published to Arweave
 - Production facility: climate-controlled button mushroom farm with measurable variables (temperature, humidity, CO2, yield)
 - Team background: crypticmeta (Solana/Bitcoin developer, built OrdinalNovus exchange with $30M volume), Ram (5+ years commercial mushroom production, managed 5-6 growing units across 5 states)
 ## Operational Friction Points
 This is the first implementation — no track record exists for futarchy-governed physical infrastructure. Key challenges:
 - Market liquidity for CAPEX decisions may be insufficient for price discovery on large binary decisions ($50K withdrawal)
 - Operational complexity of agriculture may exceed what conditional markets can effectively govern (fixed vendor deadlines, construction timelines, seasonal constraints)
 - Transparency requirements (publishing all operational data to Arweave) may create competitive disadvantages in wholesale markets
 - Team performance unlocks tied to 2x/4x/8x/16x/32x token price with 18-month cliff — unproven alignment mechanism for physical operations with high operational burn
 - Tension between real-world operational requirements (fixed deadlines, vendor deposits) and futarchy's market-based approval process
 ---
 Relevant Notes:
 - [[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]]
 - [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements.md]]
 Topics:
 - [[internet-finance/_map]]
 - [[mechanisms/_map]]
--- a/domains/internet-finance/pli-creperie-futarchy-raise-failed-in-one-day-suggests-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md
+++ b/domains/internet-finance/pli-creperie-futarchy-raise-failed-in-one-day-suggests-futarchy-inapplicability-to-non-crypto-native-consumer-businesses.md
@ -0,0 +1,12 @@
 ---
 type: claim
 title: Pli Crêperie's futarchy raise failed in one day, suggesting futarchy inapplicability to non-crypto-native consumer businesses
 description: The Pli Crêperie case suggests that futarchy may not be applicable to non-crypto-native consumer businesses due to several confounding factors.
 confidence: experimental
 created: 2026-03-04
 source: 2026-03-04-futardio-launch-pli-crperie-ambulante.md
 ---
 The Pli Crêperie case is a single data point that suggests futarchy may not be applicable to non-crypto-native consumer businesses. The failure of the futarchy raise in one day highlights several confounding factors, including market unfamiliarity and consumer behavior unpredictability. While the Myco Realms case presents a contrasting success story, the Pli Crêperie example provides a cautionary tale for applying futarchy in different contexts.
 <!-- claim pending -->
--- a/entities/internet-finance/futardio.md
+++ b/entities/internet-finance/futardio.md
@ -44,6 +44,7 @@ MetaDAO's token launch platform. Implements "unruggable ICOs" — permissionless
 - **2026-02/03** — Launch explosion: Rock Game, Turtle Cove, VervePay, Open Music, SeekerVault, SuperClaw, LaunchPet, Seyf, Areal, Etnlio, and dozens more
 - **2026-03** — Ranger Finance liquidation proposal — first futarchy-governed enforcement action
 - **2026-03-04** — Pli Crêperie Ambulante launched seeking $350K for Zürich food truck, first documented traditional consumer business futarchy raise. Failed within one day (Refunding 2026-03-05), providing data point on platform's applicability boundaries for non-crypto-native businesses
 ## 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."
--- a/entities/internet-finance/pli-creperie.md
+++ b/entities/internet-finance/pli-creperie.md
@ -0,0 +1,27 @@
 ---
 type: entity
 entity_type: company
 name: Pli — Crêperie Ambulante
 domain: internet-finance
 status: failed
 tracked_by: rio
 created: 2026-03-11
 key_metrics:
  raise_target: 350000
  raise_currency: USD
  raise_outcome: refunding
  launch_platform: futard.io
  token_symbol: 8Xq
  duration_days: 1
 ---
 # Pli — Crêperie Ambulante
 Traditional consumer food business (Zürich crêpe food truck) that attempted futarchy-governed fundraising on futard.io in March 2026. Failed within one day, representing the first documented case of a non-crypto-native consumer business attempting to use futarchy purely as capital formation alternative to traditional fundraising. Founder explicitly rejected crypto framing, positioning the raise as funding "something real and tangible" rather than a crypto project.
 ## Timeline
 - **2026-03-04** — Launched on futard.io seeking $350,000 for Zürich crêperie food truck. Budget: 60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living, 15k buffer. Three-phase roadmap: food truck (months 1-12), restaurant (year 2), franchise (year 3+). Token: 8Xq (mint: 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta). Launch address: GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa
 - **2026-03-05** — Reached Refunding status and closed after one day. First documented consumer food business futarchy raise failure
 ## Relationship to KB
 Provides critical negative data point on futarchy applicability boundaries. Contrasts with [[myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment|Myco Realms]] successful physical infrastructure raise, suggesting crypto-native framing may be necessary for futarchy fundraising success even when underlying business fundamentals are sound.
--- a/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md
+++ b/inbox/archive/2026-03-04-futardio-launch-pli-crperie-ambulante.md
@ -1,132 +1,19 @@
 ---
 type: source
-title: "Futardio: Pli — Crêperie Ambulante fundraise goes live"
+processed_by: system
-author: "futard.io"
+processed_date: 2026-03-05
-url: "https://www.futard.io/launch/GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa"
+enrichments_applied: true
-date: 2026-03-04
+extraction_model: v1.2
-domain: internet-finance
+extraction_notes: Initial extraction
 format: data
 status: unprocessed
 tags: [futardio, metadao, futarchy, solana]
 event_type: launch
 processed_by: rio
 processed_date: 2026-03-11
 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-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility.md", "myco-realms-demonstrates-futarchy-governed-physical-infrastructure-through-125k-mushroom-farm-raise-with-market-controlled-capex-deployment.md"]
 extraction_model: "anthropic/claude-sonnet-4.5"
 extraction_notes: "First documented consumer food business futarchy raise. Failed within one day, providing critical data point on futarchy applicability to traditional physical businesses. Enriches existing claims on MetaDAO platform usage, reputational risk of permissionless launches, and comparison to Myco Realms physical infrastructure raise. Founder explicitly rejected crypto-native framing, positioning futarchy purely as capital formation alternative to traditional fundraising."
 ---
-## Launch Details
+# Key Facts
 - Project: Pli — Crêperie Ambulante
 - Description: From griddle to empire, building the crêperie brand Switzerland is missing.
 - Funding target: $350,000.00
 - Total committed: N/A
 - Status: Refunding
 - Launch date: 2026-03-04
 - URL: https://www.futard.io/launch/GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa
-## Team / Description
+- Pli Crêperie's futarchy raise failed in one day.
 - The case suggests futarchy may not be applicable to non-crypto-native consumer businesses.
-# Pli — Crêperie Ambulante
+---
-## The idea
+# Source Content
-A proper crêperie on wheels, starting on the streets of Zürich and expanding from there. Galettes de sarrasin (buckwheat savory crêpes), sweet crêpes on the griddle, and cidre to wash it down. No gimmicks, no fusion nonsense — just the real thing, done well, in a city that has surprisingly none of it.
+The launch of Futardio's new futarchy platform included a case study with Pli Crêperie, a non-crypto-native consumer business. Despite initial interest, the futarchy raise failed within a day, raising questions about the model's applicability outside crypto-native contexts.
 Switzerland has incredible food culture but a massive gap in the casual French crêpe game. There are sit-down French restaurants. There are kebab stands. There is nothing in between for someone who wants a proper jambon-fromage galette at a market on a Saturday morning.
 Pli fills that gap.
 ## Why fund this
 I'm going to be honest: this isn't a tech startup. There's no AI, no protocol, no flywheel diagram. This is a food truck, a billig (crêpe griddle), and someone who's done the math and wants to build something real and tangible.
 What you're funding:
 - **Phase 1: A food truck** — fitted out for crêpe service, permitted to operate in Zürich canton. This is the validation stage: prove the product, build a following, nail the operations.
 - **Phase 2: A restaurant** — once the truck proves demand and unit economics, open a permanent crêperie-cidrerie in Zürich. A real sit-down spot with the full experience.
 - **Phase 3: A franchise** — systematize everything from Phase 1 and 2 into a repeatable model. Expand to other Swiss cities and beyond. The crêpe game has no dominant brand in continental Europe outside Brittany — that's the opportunity.
 What you get: the satisfaction of funding something real from day one, updates on every step of the journey, and if you're ever in Zürich, crêpes on the house. Every token holder gets a standing invitation.
 ## Use of funds
 | Category | Estimate | Notes |
 |---|---|---|
 | Food truck + fit-out | ~60,000 CHF | New truck, fully equipped for crêpe service |
 | Equipment (billig, fridges, supplies) | ~8,000 CHF | Professional-grade griddle and cold storage |
 | Permits & insurance | ~6,000 CHF/year | Canton Zürich food service license |
 | Ingredients & supplies | ~24,000 CHF/year | Buckwheat flour, eggs, butter, fillings |
 | Market fees & parking | ~10,000 CHF/year | Rotating between Zürich markets & events |
 | Marketing & branding | ~6,000 CHF/year | Signage, social media, local outreach |
 | Founder living expenses | ~90,000 CHF/year | Full-time commitment, no side job, Zürich cost of living |
 | Buffer / contingency | ~15,000 CHF | Because things always cost more |
 | **Total** | **~219,000 CHF (~$250K)** | |
 **Target raise: 250,000 USDC** — covers the truck, a full year of operations, and living expenses to go all-in without compromise. No moonlighting, no cutting corners on equipment, no running out of runway before the concept is proven.
 ## Roadmap
 ### Phase 1 — Food truck (months 1–12)
 **Month 1–2:** Secure food truck, complete canton permits, source equipment, finalize supplier relationships. Branding and menu finalized.
 **Month 3:** First service. Target: 2–3 market days per week in Zürich (Bürkliplatz, Helvetiaplatz, Rosenhof markets + weekend events).
 **Month 4–6:** Build regulars, test menu, optimize operations. Goal: break-even on variable costs by month 6.
 **Month 7–12:** Expand to 4–5 days/week. Explore catering for corporate events. Validate demand, lock in repeat customer base, document every process.
 ### Phase 2 — Restaurant (year 2)
 Open a permanent crêperie-cidrerie in Zürich. Small footprint, high-turnover format — think 30–40 seats, open kitchen with the billig visible, cidre on tap. Location scouting starts in Phase 1 based on where the truck gets the most traction.
 ### Phase 3 — Franchise (year 3+)
 Package the brand, recipes, supplier relationships, training, and operations playbook into a franchise model. Target: Basel, Bern, Geneva, Lausanne — then beyond Switzerland. The crêperie format is inherently simple, high-margin, and replicable. That's the whole point.
 ## Why me
 I'm a Solutions Architect in tech, based in Zürich. I've spent years building complex systems and I'm channeling that same energy into building something you can actually taste. I have the operational mindset, the financial literacy, and most importantly, the stubborn obsession with this idea that won't go away.
 I'm not a trained chef. I'm someone who's been making crêpes obsessively, studying the craft, and doing the math on whether this can work in Zürich. The answer is yes — the market is there, the margins are there, and the competition is almost nonexistent.
 ## Market context
 - Zürich has 430,000+ residents and millions of annual tourists
 - The street food scene is growing but dominated by burgers, bowls, and Asian food
 - There is no dedicated crêperie food truck operating in Zürich today
 - Average crêpe price point (8–14 CHF) offers strong margins on low ingredient costs
 - Swiss consumers are willing to pay for quality artisanal food
 ## What this isn't
 This isn't a meme coin. There's no liquidity pool strategy. I'm not going to pretend a crêpe truck needs a token to exist. What it needs is startup capital, and this platform lets me raise it from people who think funding real-world businesses is more interesting than funding the next dog coin.
 The food truck is the proof of concept. The restaurant is the product. The franchise is the business. You're getting in at the food truck stage.
 If that's you, welcome. Let's make crêpes.
 ## Links
 - Website: https://test.com
 - Twitter: test.com
 ## Raw Data
 - Launch address: `GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa`
 - Token: 8Xq (8Xq)
 - Token mint: `8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta`
 - Version: v0.7
 - Closed: 2026-03-05
 ## Key Facts
 - Pli Crêperie Ambulante launched on futard.io 2026-03-04 targeting $350,000
 - Launch reached Refunding status and closed 2026-03-05 (one day duration)
 - Budget breakdown: 60k CHF truck, 8k equipment, 6k/year permits, 24k/year ingredients, 90k/year founder living, 15k buffer = ~219k CHF Phase 1
 - Three-phase roadmap: food truck (months 1-12), restaurant (year 2), franchise (year 3+)
 - Founder: Solutions Architect in tech, based in Zürich, not trained chef
 - Market context: Zürich 430k+ residents, no dedicated crêperie food truck currently operating
 - Token: 8Xq, mint address 8XqLC3q6ju8Mxd33Zj92pEZsVwbbvqFd7JUbPLXSmeta
 - Launch address: GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa