m3taversal
018ee566e2
- What: Rewrote all 10 ownership coin entity files (mtnCapital, OmniPair, Umbra, Avici, Loyal, ZKFG, Paystream/PAYS, Solomon/SOLO, Ranger, P2P.me) with standardized frontmatter schema for dashboard consumption. Deduplicated 9 redundant files (Ranger had 4, P2P had 4, Umbra had 2, OmniPair had 2). Updated all wiki links across decisions/, sectors/, and entities/ to point to canonical files. - Why: m3ta requested portfolio dashboard. Entity stubs had near-zero structured data. Dashboard rendering requires standardized schema with raise amounts, token addresses, traction metrics, and chain data. - Gaps flagged: Token addresses for 5 coins, treasury multisig addresses for all 10, LP pool addresses, mtnCapital raise details. Phase 2 cron script will auto-fill on-chain numerics. Pentagon-Agent: Rio <244BA05F-3AA3-4079-8C59-6D68A77C76FE>
71 lines
2.7 KiB
Markdown
71 lines
2.7 KiB
Markdown
---
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name: "Ranger"
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ticker: "$RNGR"
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type: entity
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subtype: ownership-coin
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domain: internet-finance
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status: liquidated
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launch_platform: metadao-curated
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launch_date: "2026-01"
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raise:
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amount_raised_usd: 8000000
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amount_committed_usd: null
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oversubscription_ratio: null
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chain:
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token_address: null
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network: solana
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market_cap_usd: null
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price_usd: null
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circulating_supply: null
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total_supply: null
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treasury_multisig_usd: null
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treasury_multisig_address: null
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lp_usdc_protocol_controlled_usd: null
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lp_pool_addresses: []
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equity_value_usd: null
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data_updated: null
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holders: []
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traction:
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revenue_monthly_usd: null
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customers: null
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key_metrics:
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- "Claimed: $5B volume, $2M revenue (2025)"
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- "Actual: ~$2B volume, ~$500K revenue (on-chain analysis)"
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liquidation:
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date: "2026-03-12"
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return_per_dollar: 0.78
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reason: "Material misrepresentation of revenue and volume metrics. On-chain analysis showed ~$2B volume vs $5B claimed, ~$500K revenue vs $2M claimed. Activity flatlined after ICO announcement."
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tracked_by: rio
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---
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# Ranger
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Ranger was marketed as the "first perp aggregator on Solana" and raised $8M+ through MetaDAO's curated ICO in January 2026. Liquidated in March 2026 after tokenholder governance proved material misrepresentation — on-chain analysis showed volume and revenue were roughly 60-75% below what the team claimed pre-ICO. The liquidation returned 5.047M USDC to unlocked RNGR holders (~$0.78 per dollar of book value) with IP transferred back to the team (Glint House PTE). 97% market support for the liquidation proposal.
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## Significance
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Ranger's liquidation was the highest-profile test of the "unruggable ICO" thesis. It demonstrated three things: (1) futarchy governance can enforce investor protection by unwinding projects, (2) futarchy can override its own prior decisions (overrode a 90-day cooldown on buyback/liquidation proposals) when new evidence emerges, and (3) the mechanism returns meaningful capital (~78 cents on the dollar) rather than going to zero.
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## Timeline
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- **2025-11** — ICO announcement
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- **2025-12** — Co-founder presentation claiming $5B volume and $2M revenue for 2025
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- **2026-01** — Raised $8M+ via futarchy ICO on MetaDAO; token peaked at TGE, fell 74-90%
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- **2026-03** — Liquidation proposal brought by RNGR holders; on-chain analysis showed ~$2B volume and ~$500K revenue
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- **2026-03-12** — Liquidation snapshot; 5.047M USDC returned to unlocked holders (~$0.78 book value)
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- **2026-03-17** — Liquidation portal launched; IP returned to Glint House PTE
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---
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Relevant Notes:
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- [[metadao]] — launch platform
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- [[mtncapital]] — first liquidation precedent
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Topics:
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- [[internet finance and decision markets]]
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