b6058f62a6
- Source: inbox/archive/2026-03-09-futardio-launch-etnlio.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 3) Pentagon-Agent: Rio <HEADLESS>
2.9 KiB
| type | entity_type | name | domain | status | parent_entity | platform | proposal_url | proposal_date | resolution_date | category | summary | tracked_by | created | key_metrics | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| entity | decision_market | Etnl.io: Futardio Fundraise | internet-finance | failed | etnlio | futardio | https://www.futard.io/launch/4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9 | 2026-03-09 | 2026-03-10 | fundraise | Mobile wallet project seeking $500K through futarchy-governed raise, failed with $96 committed (0.019% of target) | rio | 2026-03-11 |
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Etnl.io: Futardio Fundraise
Summary
Etnl.io attempted to raise $500,000 through Futardio's futarchy-governed ICO mechanism to fund development of a Secure Enclave-based mobile wallet. The raise failed catastrophically, achieving only $96 in commitments (0.019% of target) before entering refunding status within 24 hours. The project had complete documentation, clear use of funds, professional presentation, and a coherent product narrative, making this a significant data point about futarchy adoption barriers.
Market Data
- Outcome: Failed (refunding)
- Raise Target: $500,000
- Total Committed: $96
- Duration: 24 hours (2026-03-09 to 2026-03-10)
- Platform: Futardio v0.7
- Token: 64S (mint: 64SnHgEfSdzpnmHEhh2niN8bcAjmhTyEQky2DKWBmeta)
Significance
This is the first documented failed raise on the Futardio platform, providing empirical evidence for futarchy adoption friction claims. The failure is particularly notable because it cannot be attributed to poor project quality, incomplete information, or unclear use of funds—all the standard due diligence signals were present. The barrier appears to be market liquidity and participation rather than information asymmetry, suggesting that futarchy's theoretical advantages in price discovery do not automatically translate to capital formation at early platform scale.
The 24-hour failure timeline demonstrates that futarchy mechanisms can produce fast NO decisions, which is efficient price discovery but challenges assumptions about capital formation speed.
Relationship to KB
- futarchy adoption faces friction from token price psychology proposal complexity and liquidity requirements — confirms liquidity as binding constraint
- 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 — challenges product-market fit claims
- internet capital markets compress fundraising from months to days because permissionless raises eliminate gatekeepers while futarchy replaces due diligence bottlenecks with real-time market pricing — challenges capital formation assumptions
- futardio — first documented platform failure