27 lines
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1.3 KiB
Markdown
27 lines
No EOL
1.3 KiB
Markdown
# Ranger Finance Liquidation (March 2026)
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**Status:** Passed
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**Vote Support:** 97%
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**Trading Volume:** $581K
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**Category:** Liquidation
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**Parent Entity:** [[ranger-finance]]
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## Decision
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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.
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## Outcome
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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).
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## Significance
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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."
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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.
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## Timeline
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- **2026-03-23** — Liquidation proposal passed with 97% support
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- **2026-03-23** — ~5M USDC returned to unlocked RNGR holders at $0.78 book value
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- **2026-03-23** — IP returned to founding team |