m3taversal
e8016cf013
Completes full proposal text backfill for all non-MetaDAO decision records. Futardio proposals (3): - futardio-proposal-1 (test, Failed 2024-05-27) - futardio-fund-rug-bounty-program (Passed 2024-06-14) - futardio-approve-budget-pre-governance-hackathon (Passed 2024-08-30) FutureDAO (1): - futuredao-initiate-liquidity-farming-raydium (Passed 2024-11-08) Dean's List/IslandDAO (1): - islanddao-treasury-proposal (Passed 2024-10-10) Futardio launches — successful (3): - avici-futardio-launch ($34.2M committed, $3.5M raised, 2025-10-14) - paystream-futardio-fundraise ($6.1M committed, $750K raised, 2025-10-23) - superclaw-futardio-fundraise ($5.95M committed, 119x oversubscribed, 2026-03-04) Futardio launches — failed (10): - digifrens ($6.6K/200K, 2026-03-03) - git3 ($28.3K/100K, 2026-03-05) - hurupay ($2M/3M, 2026-02-03) - insert-coin-labs ($2.5K/50K, 2026-03-05) - island ($250/50K, 2026-03-04) - manna-finance ($205/120K, 2026-03-03) - runbookai ($3.6K/350K, 2026-03-05) - salmon-wallet (refunding, 2026-02-22) - seekervault ($2.1K/75K, 2026-03-04) - versus ($5.3K/500K, 2026-03-03) Other (3): - mtncapital-wind-down (first futarchy liquidation, ~Sep 2025) - test-dao-testing-indexer-changes (test, 2025-07-02) - the-meme-is-real (test, 2026-03-03) Pentagon-Agent: Rio <5551F5AF-0C5C-429F-8915-1FE74A00E019>
62 lines
No EOL
3.4 KiB
Markdown
62 lines
No EOL
3.4 KiB
Markdown
---
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type: decision
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entity_type: decision_market
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name: "Manna Finance: Futardio Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[manna-finance]]"
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platform: "futardio"
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proposer: "Manna Finance team"
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proposal_url: "https://v1.metadao.fi/manna-finance/trade/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5"
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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: "Zero-interest CDP protocol on Solana seeking $120K for 12-month runway"
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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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raise_target: "$120,000"
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total_committed: "$205"
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outcome: "refunding"
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duration: "1 day"
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oversubscription_ratio: 0.0017
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---
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# Manna Finance: Futardio Fundraise
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## Summary
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Manna Finance attempted to raise $120,000 through Futardio to build a Liquity V1-style zero-interest CDP protocol on Solana. The fundraise sought 12 months of runway at $10,000/month burn rate, with funds allocated to smart contract audit ($15-25K), mainnet deployment, founder salary, and liquidity bootstrapping. The raise failed catastrophically, receiving only $205 in commitments (0.17% of target) before closing in refunding status after one day.
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## Market Data
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- **Outcome:** Failed (refunding)
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- **Raise Target:** $120,000
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- **Total Committed:** $205
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- **Duration:** 1 day (2026-03-03 to 2026-03-04)
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- **Oversubscription:** 0.17%
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## Significance
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This represents one of the most severe fundraise failures on Futardio's platform, with the raise attracting less than 0.2% of its target. The failure occurred despite detailed documentation including competitive analysis, roadmap, team structure, and go-to-market strategy. The project proposed MetaDAO futarchy governance from launch and positioned itself as the only zero-interest CDP on Solana, but failed to attract capital.
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The rapid closure (1 day) and refunding status suggests either lack of market interest in the CDP model on Solana, insufficient team credibility, or poor market timing. The project competed against established Solana stablecoins (USX, USDv, jupUSD, USDGO) with different mechanisms.
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## Relationship to KB
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- [[manna-finance]] — parent entity
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- [[futardio]] — fundraising platform
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- [[metadao]] — planned governance mechanism
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- Attempted implementation of [[futarchy-based fundraising creates regulatory separation because there are no beneficial owners and investment decisions emerge from market forces not centralized control]]
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## Full Proposal Text
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*Source: futard.io, launched 2026-03-03*
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Manna Finance: Lock SOL to mint solUSD at 0% interest rate. Liquity V1-style CDP protocol on Solana.
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**Mechanism:** Users deposit SOL, mint solUSD (pegged to $1), pay one-time borrowing fee (~0.5% base), no ongoing interest. Peg maintained via: (1) redemptions — solUSD always redeemable for $1 worth of SOL, (2) liquidations via Stability Pool where stakers earn SOL at discount. Governed via MetaDAO futarchy.
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**Raise:** Target $120,000. Total committed: $205 (0.17%). Status: Refunding. Closed 2026-03-04. Most severe fundraise failure on Futardio.
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**Competitive Advantage:** Only zero-interest CDP on Solana. Competitors: USX, USDv, jupUSD, USDGO.
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**Budget:** Monthly burn $10K ($7K team, $1K infrastructure, $1.5K marketing, $500 legal). Runway: 12 months. Audit: $15-25K.
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**Roadmap:** Month 1 (audit prep), Months 2-3 (audit & fixes), Month 4 (mainnet with $1M TVL cap), Months 5-6 (growth, token launch prep), Months 7-12 (DAO transition, V2 planning). Website: manna.finance |