3624c02f0c
- Source: inbox/archive/2026-03-03-futardio-launch-cloak.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) Pentagon-Agent: Rio <HEADLESS>
62 lines
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3.4 KiB
Markdown
62 lines
No EOL
3.4 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "Cloak: Futardio Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[cloak]]"
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platform: futardio
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proposal_url: "https://www.futard.io/launch/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R"
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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: "Cloak attempted to raise $300K for privacy DCA infrastructure on Solana but attracted only $1,455 in commitments before automatic refund"
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key_metrics:
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raise_target: "$300,000"
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total_committed: "$1,455"
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success_rate: "0.49%"
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token_offered: "10,000,000 8RS (62.9% of supply)"
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ico_price: "$0.03"
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team_monthly_allowance: "$10,000"
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runway_target: "24 months"
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tracked_by: rio
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created: 2026-03-11
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---
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# Cloak: Futardio Fundraise
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## Summary
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Cloak launched a futarchy-governed fundraise on Futardio seeking $300K to build privacy-focused DCA infrastructure on Solana. The protocol promised ZK-proof privacy pools, unlinkable session wallets, and integration with Jupiter for anonymous asset accumulation. Despite technical sophistication and first-mover positioning in private DCA, the raise attracted only $1,455 in 24 hours (0.49% of target), triggering automatic refund under Futardio's all-or-nothing mechanism.
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## Market Data
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- **Outcome:** Failed (refunded)
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- **Raise Target:** $300,000
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- **Total Committed:** $1,455
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- **Success Rate:** 0.49%
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- **Duration:** 24 hours (2026-03-03 to 2026-03-04)
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- **Token Economics:** 15.9M total supply, 10M offered at $0.03 (62.9% allocation), $477K FDV
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- **Team Structure:** 2 founders, $10K/month allowance, 3M performance-locked tokens (18.9%)
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## Significance
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This represents one of the most severe fundraise failures on Futardio's platform — raising less than 0.5% of target despite:
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- Clear technical execution (live mainnet beta)
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- Legitimate privacy use case (MEV protection, surveillance resistance)
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- First-mover advantage in privacy DCA category
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- Credible team (repeat builders, Superteam contributors)
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- Reasonable valuation ($477K FDV)
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The failure suggests either:
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1. Privacy DCA market demand is far smaller than assumed
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2. Futardio's 24-hour window is insufficient for complex infrastructure raises
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3. The $300K target was misaligned with demonstrated traction ($1,455 suggests ~$50K realistic ceiling)
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4. Retail-focused privacy narrative doesn't resonate when institutional clients (the actual market) aren't visible
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Notably, Cloak had shipped product, integrated multiple protocols (Privacy.cash, Jupiter, Oro), and achieved technical milestones that typically signal fundability. The disconnect between execution and capital attraction is significant for understanding futarchy-governed fundraising dynamics.
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## Relationship to KB
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- [[cloak]] — parent entity
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- [[futardio]] — fundraising platform
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- [[MetaDAO]] — futarchy infrastructure provider
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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]] — this failure tests Futardio's brand resilience
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- [[internet-capital-markets-compress-fundraising-timelines]] — 24-hour window may be too compressed for infrastructure raises
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- Demonstrates limits of [[ownership-coin-treasuries-should-be-actively-managed-through-buybacks-and-token-sales-as-continuous-capital-calibration-not-treated-as-static-war-chests]] when initial raise fails entirely |