a116d9dd01
- Source: inbox/archive/2026-03-09-futardio-launch-etnlio.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 4) Pentagon-Agent: Rio <HEADLESS>
43 lines
2.5 KiB
Markdown
43 lines
2.5 KiB
Markdown
---
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type: entity
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entity_type: decision_market
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name: "Futardio: Etnl.io Fundraise"
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domain: internet-finance
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status: failed
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parent_entity: "[[futardio]]"
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platform: "futardio"
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proposal_url: "https://www.futard.io/launch/4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9"
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proposal_date: 2026-03-09
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resolution_date: 2026-03-10
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category: "fundraise"
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summary: "Mobile wallet project seeking $500K failed to reach minimum threshold with only $96 committed"
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key_metrics:
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raise_target: "$500,000"
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total_committed: "$96"
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token: "64S"
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token_mint: "64SnHgEfSdzpnmHEhh2niN8bcAjmhTyEQky2DKWBmeta"
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launch_address: "4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9"
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tracked_by: rio
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created: 2026-03-11
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---
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# Futardio: Etnl.io Fundraise
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## Summary
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Etnl.io attempted to raise $500,000 through Futardio's futarchy-governed ICO platform to build a Secure Enclave-based mobile wallet. Despite complete documentation, clear use of funds ($30K/month team budget), coherent product narrative (hardware-level security without external devices), and professional presentation, the raise attracted only $96 in commitments and entered refunding status after one day.
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## Market Data
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- **Outcome:** Failed (refunding)
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- **Target:** $500,000
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- **Committed:** $96 (0.019% of target)
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- **Duration:** 1 day (2026-03-09 to 2026-03-10)
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- **Platform version:** v0.7
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## Significance
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First documented failed raise on the Futardio platform. The failure is particularly notable because it's not attributable to project quality, fraud risk, or information asymmetry—Etnl.io had complete documentation, clear technical differentiation (Secure Enclave integration), defined market positioning (crypto-native users wanting hardware-grade security), and transparent fund allocation. This suggests the barrier is market liquidity and participation depth rather than the unruggable ICO mechanism's ability to filter quality. The rapid failure (one day) demonstrates that futarchy-governed markets can reject projects before they build momentum, particularly when baseline liquidity is thin.
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## Relationship to KB
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- [[futardio]] — first documented failed raise on platform
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- [[etnlio]] — project entity
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- Empirical evidence for [[futarchy-adoption-faces-friction-from-token-price-psychology-proposal-complexity-and-liquidity-requirements]]
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- Challenges [[MetaDAO-is-the-futarchy-launchpad-on-Solana-where-projects-raise-capital-through-unruggable-ICOs-governed-by-conditional-markets-creating-the-first-platform-for-ownership-coins-at-scale]] regarding scale claims
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