# Ranger Finance Liquidation (March 2026)

**Status:** Passed
**Vote Support:** 97%
**Trading Volume:** $581K
**Category:** Liquidation
**Parent Entity:** [[ranger-finance]]

## Decision

MetaDAO governance voted to wind down Ranger Finance, pull liquidity, and return approximately 5M USDC to unlocked RNGR holders at roughly $0.78 book value. Intellectual property was returned to the founding team.

## Outcome

This represents the second futarchy-governed liquidation on MetaDAO after mtnCapital in September 2025. The decision passed with overwhelming support (97%) and significant market participation ($581K in conditional market trading volume).

## Significance

As Rio noted: "This is the strongest proof yet that the 'unruggable ICO' mechanism actually works. Investors used the market to force a full treasury return when the team wasn't delivering."

The enforcement mechanism worked as designed: conditional markets allowed token holders to express "this project should return capital" and when enough informed money agreed, the liquidation executed automatically.

## Timeline

- **2026-03-23** — Liquidation proposal passed with 97% support
- **2026-03-23** — ~5M USDC returned to unlocked RNGR holders at $0.78 book value
- **2026-03-23** — IP returned to founding team