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teleo-codex/decisions/internet-finance/hurupay-futardio-fundraise.md
Teleo Agents 0da42ebbf1 schema: move 68 decision_market entities to decisions/internet-finance/ 
Separates governance decisions from entities. decision_market type replaced
by type: decision in new decisions/ directory. Entities (companies, people,
protocols) remain in entities/{domain}/.

Architecture: Leo (schema), Rio (taxonomy), Ganymede (migration), Rhea (ops)
Implemented by: Epimetheus

Pentagon-Agent: Epimetheus <968B2991-E2DF-4006-B962-F5B0A0CC8ACA>
2026-03-16 17:31:07 +00:00

2.9 KiB
Raw Blame History

type entity_type name domain status parent_entity platform proposal_url proposal_date resolution_date category summary key_metrics tracked_by created
decision decision_market Hurupay: Futardio Fundraise internet-finance failed hurupay futardio https://www.futard.io/launch/HT3ScC7gyo3zTn95s9jR7J3ez5u8HrRfFwD33YjMHLy3 2026-02-03 2026-02-07 fundraise $3M fundraise for stablecoin payments platform; committed $2M (67%) before refunding
raise_target total_committed fill_rate token_symbol token_mint token_allocation
$3,000,000 $2,003,593 66.8% HUR HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta
ico liquidity team previous_investors
39.02% 11.31% 42.66% (3-year lockup) 7% (2-year vest)
rio 2026-03-11

Hurupay: Futardio Fundraise

Summary

Hurupay attempted to raise $3M on Futardio (MetaDAO's futarchy launchpad) to scale its stablecoin-based cross-border payments platform. The fundraise committed $2,003,593 (67% of target) before entering refund status, making it a notable case of a futarchy-governed ICO that attracted substantial capital but failed to cross the completion threshold.

Market Data

  • Outcome: Failed (Refunding)
  • Raise Target: $3,000,000
  • Total Committed: $2,003,593 (66.8% fill rate)
  • Duration: 2026-02-03 to 2026-02-07 (4 days)
  • Token: HUR (HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta)

Significance

This fundraise provides evidence of a "valley of death" zone in futarchy-governed ICOs where projects with strong fundamentals can attract meaningful capital but fail to convert interest into threshold-crossing commitment. Hurupay had demonstrated substantial traction: $36M+ in processed volume, $500K+ in revenue, 30,000+ users, and backing from Founders Inc and angels from Microsoft and Bankless. Despite these metrics, the raise could not reach completion, suggesting that futarchy mechanics may introduce coordination problems or conviction gaps that prevent marginal capital from committing.

The case contrasts with both obvious successes (substantial oversubscription) and obvious failures (minimal interest), revealing potential friction in the futarchy fundraising mechanism that warrants further investigation.

DAO Configuration

  • Team Sponsored Pass Threshold: -300bps
  • Team Sponsored Stake Requirement: 0 HURU
  • Pass Threshold: 300bps
  • Stake Requirement: 1.5M HURU
  • Proposal Duration: 3 days

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