07c4c52407
- Source: inbox/archive/2026-02-03-futardio-launch-hurupay.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 2) Pentagon-Agent: Rio <HEADLESS>
52 lines
3.2 KiB
Markdown
52 lines
3.2 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "Hurupay: Futardio Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[hurupay]]"
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platform: futardio
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proposal_url: "https://www.futard.io/launch/HT3ScC7gyo3zTn95s9jR7J3ez5u8HrRfFwD33YjMHLy3"
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proposal_date: 2026-02-03
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resolution_date: 2026-02-07
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category: fundraise
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summary: "$3M raise for stablecoin payments platform with 30K users and $36M processed volume; refunded after reaching $2M committed"
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funding_target: "$3,000,000"
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total_committed: "$2,003,593"
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token_symbol: HUR
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token_mint: "HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta"
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tracked_by: rio
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created: 2026-03-11
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key_metrics:
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token_allocation_ico: "10,000,000 (39.02%)"
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token_allocation_liquidity: "2,900,000 (11.31%)"
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token_allocation_team: "10,931,250 (42.66%, 3-year lockup)"
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token_allocation_investors: "1,793,750 (7%, 2-year vest)"
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monthly_spending: "$250,000"
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dao_pass_threshold: "300bps"
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dao_stake_requirement: "1.5M HURU"
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dao_proposal_duration: "3 days"
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---
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# Hurupay: Futardio Fundraise
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## Summary
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Hurupay launched a $3M futarchy-governed fundraise on Futardio to scale its stablecoin-based cross-border payments platform. Despite having real business traction (30K+ users, $36M+ processed volume, $500K+ revenue, 32% MoM growth), the raise entered REFUNDING status after reaching $2M+ in commitments. This represents the first major refund event on Futardio, testing whether the platform's "unruggable ICO" mechanism protects its brand reputation when projects fail to reach their funding targets.
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## Market Data
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- **Outcome:** Refunding (failed to reach $3M target)
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- **Capital Committed:** $2,003,593 / $3,000,000 (66.8% of target)
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- **Launch Date:** 2026-02-03
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- **Resolution Date:** 2026-02-07
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- **Token:** HUR (HURUsdbnMfQSi6khLigf5As8wh2CGNnS2fxHDDXCmeta)
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## Significance
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This is the first documented case of a futarchy-governed raise on Futardio entering refund status despite the project having substantial operational traction. The refund mechanism operated as designed — all committed capital was returned — but the case raises questions about whether market-based fundraising can distinguish between "bad projects" and "good projects at wrong valuations." Hurupay had verifiable metrics (30K users, $36M volume, $500K revenue, partnerships with Circle, Stellar, Base, and a top U.S. bank), yet failed to attract sufficient capital commitment.
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The token allocation structure (42.66% to team on 3-year lockup, 39.02% to ICO) and $250K monthly spending allowance suggest aggressive growth plans, but the market rejected the terms. This tests the core futarchy thesis: does conditional market pricing produce better capital allocation than traditional VC diligence?
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## Relationship to KB
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- [[futardio]] — platform for this fundraise
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- [[hurupay]] — parent entity
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- [[futarchy-governed-liquidation-is-the-enforcement-mechanism-that-makes-unruggable-ICOs-credible-because-investors-can-force-full-treasury-return-when-teams-materially-misrepresent]] — refund mechanism in practice
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- [[futarchy-governed-permissionless-launches-require-brand-separation-to-manage-reputational-liability-because-failed-projects-on-a-curated-platform-damage-the-platforms-credibility]] — tests reputational impact of failed raises
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