0da42ebbf1
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>
63 lines
No EOL
3.2 KiB
Markdown
63 lines
No EOL
3.2 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "Salmon Wallet: Futardio Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[salmon-wallet]]"
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platform: futardio
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proposal_url: "https://www.futard.io/launch/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
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proposal_date: 2026-03-03
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resolution_date: 2026-03-04
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category: fundraise
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summary: "Open-source wallet infrastructure project seeking $375K for 12-month runway through futarchy-governed ICO"
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key_metrics:
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raise_target: "$375,000"
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total_committed: "$97,535"
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oversubscription_ratio: 0.26
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monthly_burn_rate: "$25,000"
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planned_runway: "12 months"
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token:
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name: "Salmon Token"
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ticker: "SAL"
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mint: "DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta"
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launch_address: "Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF"
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tracked_by: rio
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created: 2026-03-11
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---
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# Salmon Wallet: Futardio Fundraise
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## Summary
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Salmon Wallet attempted to raise $375,000 through MetaDAO's futarchy platform for 12-month operational runway covering wallet development, security, infrastructure, and mobile app releases. Despite being an established project (active since 2022, listed on Solana wallet adapter, $122.5K prior funding), the raise attracted only $97,535 (26% of target) before refunding. First observed futarchy-governed wallet infrastructure project on the platform.
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## Market Data
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- **Outcome:** Failed (refunding)
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- **Raise Target:** $375,000
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- **Total Committed:** $97,535
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- **Oversubscription:** 0.26x
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- **Duration:** 1 day (2026-03-03 to 2026-03-04)
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- **Token:** SAL (Salmon Token)
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## Use of Funds (Proposed)
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- **Team:** $18,300/month (73%)
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- **Infrastructure:** $4,200/month (17%)
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- **Growth & Ecosystem:** $2,000/month (8%)
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- **Governance, Legal & Contingency:** $500/month (2%)
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- **Total Monthly Burn:** $25,000
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- **Target Runway:** 12 months
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## Roadmap (Proposed)
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- Q2-2026: Android release, WebApp relaunch, signing flow optimization
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- Q3-2026: iOS TestFlight, staking integration, AI transaction security
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- Q4-2026: Custom notifications, portfolio view, Wallet-as-a-Service
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- Q1-2027: Cross-platform optimization, ecosystem integrations
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## Significance
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First empirical data point on futarchy adoption friction for operational software infrastructure versus pure capital allocation vehicles. The failed raise suggests futarchy mechanisms face challenges when applied to projects with ongoing operational complexity, team budgets, and multi-quarter development roadmaps. Despite technical credibility and operational history, the project could not achieve minimum viable liquidity in the futarchy market.
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## Relationship to KB
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- [[salmon-wallet]] — parent entity
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- [[futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements]] — empirical confirmation
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- [[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]] — platform scope expansion test
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- [[futarchy-governed DAOs converge on traditional corporate governance scaffolding for treasury operations because market mechanisms alone cannot provide operational security and legal compliance]] — included traditional operational structures |