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teleo-codex/decisions/internet-finance/ranger-finance-liquidation-2026.md
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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