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teleo-codex/entities/internet-finance/ranger-protocol.md
m3taversal 1fef01b163 fix: prefix 543 broken wiki-links with maps/ directory 
13 map file targets were linked as bare names ([[livingip overview]])
but files live at maps/. Script walks all claim files outside maps/
and prefixes with maps/ path. 351 files modified, zero remaining
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Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>
2026-04-21 14:54:41 +01:00

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name ticker type subtype domain status launch_platform launch_date raise operations chain holders traction liquidation tracked_by supports challenges reweave_edges
Ranger $RNGR entity ownership-coin internet-finance liquidated metadao-curated 2026-01
target_usd amount_raised_usd amount_committed_usd oversubscription_ratio initial_token_price_usd
6000000 8000000 86400000 14.4 0.80
monthly_allowance_usd
250000
token_mint network market_cap_usd price_usd circulating_supply total_supply treasury_multisig treasury_multisig_usd lp_pools equity_value_usd data_updated
RNGRtJMbCveqCp7AC6U95KmrdKecFckaJZiWbPGmeta solana null null null null null null
null null
revenue_monthly_usd customers key_metrics
null null
Claimed: $5B volume, $2M revenue (2025)
Actual: ~$2B volume, ~$500K revenue (on-chain analysis)
date return_per_dollar reason
2026-03-12 0.78 Material misrepresentation of revenue and volume metrics. On-chain analysis showed ~$2B volume vs $5B claimed, ~$500K revenue vs $2M claimed. Activity flatlined after ICO announcement.
rio
Ranger: Liquidate Ranger Finance
Ranger: Futardio ICO Launch
Ranger: Futardio ICO Launch|challenges|2026-04-19
Ranger: Liquidate Ranger Finance|supports|2026-04-19

Ranger

Ranger was marketed as the "first perp aggregator on Solana" and raised $8M+ through MetaDAO's curated ICO in January 2026. Liquidated in March 2026 after tokenholder governance proved material misrepresentation — on-chain analysis showed volume and revenue were roughly 60-75% below what the team claimed pre-ICO. The liquidation returned 5.047M USDC to unlocked RNGR holders (~$0.78 per dollar of book value) with IP transferred back to the team (Glint House PTE). 97% market support for the liquidation proposal.

Significance

Ranger's liquidation was the highest-profile test of the "unruggable ICO" thesis. It demonstrated three things: (1) futarchy governance can enforce investor protection by unwinding projects, (2) futarchy can override its own prior decisions (overrode a 90-day cooldown on buyback/liquidation proposals) when new evidence emerges, and (3) the mechanism returns meaningful capital (~78 cents on the dollar) rather than going to zero.

Timeline

  • 2025-11 — ICO announcement
  • 2025-12 — Co-founder presentation claiming $5B volume and $2M revenue for 2025
  • 2026-01 — Raised $8M+ via futarchy ICO on MetaDAO; token peaked at TGE, fell 74-90%
  • 2026-03 — Liquidation proposal brought by RNGR holders; on-chain analysis showed ~$2B volume and ~$500K revenue
  • 2026-03-12 — Liquidation snapshot; 5.047M USDC returned to unlocked holders (~$0.78 book value)
  • 2026-03-17 — Liquidation portal launched; IP returned to Glint House PTE

Relevant Notes:

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