# Backable

> Permissionless fundraising on Solana, built on MetaDAO's futarchy
> infrastructure. Anyone can publish a raise for $15; nobody vets the
> teams. Escrow, claimable refunds, and market governance protect backers —
> judgment stays the backer's job.

## Mechanism facts (protocol-enforced, same for every raise)

- Commitments sit in escrow; the team receives $0 unless the goal is met.
- Goal missed → every backer claims back 100%. Claims are transactions the
  backer sends themselves; nothing arrives automatically and nothing expires.
- The goal is a cap: an oversubscribed raise still hands the project only the
  goal, and the excess stays claimable by its backers.
- Every raise sells a fixed 10,000,000 tokens to backers; price = goal ÷ 10M.
- At close, 80% of the goal funds the treasury and 20% seeds liquidity.
- Goals range $10,000–$2,000,000; the published monthly budget is capped at goal ÷ 6
  and enforced onchain. Spending above it needs a decision-market proposal.
- Team tokens unlock at 2×/4×/8×/16×/32× the backers' entry price (3-month TWAP),
  after a lock of at least 18 months. No calendar unlocks.
- Supply is fixed at launch; minting requires a market-approved proposal.

## Docs

- [How Backable protects you](https://permissionless.metadao.fi/docs/how-backable-protects-you): The whole system in one page, written for someone who has never used crypto.
- [Doing your own research](https://permissionless.metadao.fi/docs/doing-your-own-research): Nobody vetted these teams. Here is the checklist we would use.
- [Committed vs raised](https://permissionless.metadao.fi/docs/committed-vs-raised): Why a $15M raise can hand a project $240k — and where the rest goes.
- [Monthly budgets and proposals](https://permissionless.metadao.fi/docs/monthly-budgets-and-proposals): What a funded team can spend without asking, and what needs a market's permission.
- [Decision markets, minus the jargon](https://permissionless.metadao.fi/docs/decision-markets): Don't vote, trade — explained with a $10 example and no equations.
- [How proposals go live](https://permissionless.metadao.fi/docs/how-proposals-go-live): Anyone can propose. A team signature or a backer stake is what opens the market.
- [Reading tokenomics](https://permissionless.metadao.fi/docs/reading-tokenomics): FDV, supply, unlock ladders, TWAPs — the nutrition-label guide.
- [Reading a deal sheet](https://permissionless.metadao.fi/docs/reading-a-deal-sheet): A line-by-line tour of the box every raise page carries.
- [Ownership Score](https://permissionless.metadao.fi/docs/ownership-score): Hold ownership tokens, get a bigger slice of an oversubscribed raise. The formula, and its limits.
- [Launching a raise](https://permissionless.metadao.fi/docs/launching-a-raise): From $15 to funded: the full walkthrough, including the odds.
- [Go-to-market checklist](https://permissionless.metadao.fi/docs/go-to-market): Superteam, media, pre-commits, and launch-week cadence — from two weeks out to live.
- [Your legal entity](https://permissionless.metadao.fi/docs/your-legal-entity): What the Cayman SPC is, what it holds, and what the B-1 filing means.
- [Glossary](https://permissionless.metadao.fi/docs/glossary): Every term on the site, in plain language.
- [Founder interview prompt](https://permissionless.metadao.fi/agents.md): paste-ready AGENTS.md for
  helping a founder fill in a raise.
- [Raise-sizing skill](https://permissionless.metadao.fi/skills/raise-sizing.md): goal, budget, FDV and
  package sizing with the checks a skeptical backer would run.
- [GTM & pitch skill](https://permissionless.metadao.fi/skills/gtm-pitch.md): the long-form pitch on X
  and the two-week launch cadence.

## Raises

Each raise has a machine-readable companion at /raises/<address>/agents.md
with the full deal sheet, diligence signals, and the founder's frozen pitch.

- [LFOWN](https://permissionless.metadao.fi/raises/5Lfuib2f4NRqxRkqXDpuokbAbchxY947CRtjxZoawWm/agents.md) — LIVE, goal $10,000
- [SPARK](https://permissionless.metadao.fi/raises/2SGPL7DSLX35WuBm4458xwctrSEHzUpe5884aoXL68WY/agents.md) — LIVE, goal $10,000
- [Degen Terminal](https://permissionless.metadao.fi/raises/83fAjVrKqN3KN8UAFPunRNygTHMmkRRGd3KUKgeSXKx7/agents.md) — LIVE, goal $20,000
- [HiveBits](https://permissionless.metadao.fi/raises/AbTuTsoBJS2jQggvfb7d1LA2SfbHa5NB5HbJqX8C2PnS/agents.md) — LIVE, goal $140,000
- [GameByts](https://permissionless.metadao.fi/raises/FfadyEpRPJEbJHDvQ9ZeCBzkBjX1GZtEVNgMFogsfdq8/agents.md) — CLAIMABLE, goal $250,000
- [Aeonian](https://permissionless.metadao.fi/raises/Bw4TNjEEf8WChwYJTQBZMCKZx9ErGeQLNr8hBzDpeDHG/agents.md) — CLAIMABLE, goal $50,000
- [Mycorealms](https://permissionless.metadao.fi/raises/8cJavsmirre12VUvajmcT4UXqqfM25ShZ9ZMPCcnVSB5/agents.md) — CLAIMABLE, goal $70,000
- [Markov](https://permissionless.metadao.fi/raises/F8FPTKDGdTFvqXX3Ff9sirYod5jWNQzJKbc5VXLzWjKc/agents.md) — CLAIMABLE, goal $35,000
- [Coinflip](https://permissionless.metadao.fi/raises/7wiwmSgdVXhYyiMWdUz6vUxTjoiCPupFwvmGNzhPJvV9/agents.md) — CLAIMABLE, goal $100,000
- [Ryvo Network](https://permissionless.metadao.fi/raises/9EVNa5SukB5szKECdWVWssfFtsQmjiijukyXztK6PbrY/agents.md) — CLAIMABLE, goal $150,000
- [SuperPumped](https://permissionless.metadao.fi/raises/Cdc9b9AuwkbfjBWqYC8xkcoyMacF6G55wsdUK2gpPuzS/agents.md) — CLAIMABLE, goal $200,000
- [CarryLend](https://permissionless.metadao.fi/raises/86cSK16y9FZBggdLcmZiPUCaBjB9TWyGdEzjmJoNe4tn/agents.md) — CLAIMABLE, goal $100,000
- [Kimia](https://permissionless.metadao.fi/raises/FwCDgK9C8mjWr7wULPFzEv4QBt6koTnMQrKTC45TxWAk/agents.md) — OVERSUBSCRIBED, goal $60,000
- [The collector suite](https://permissionless.metadao.fi/raises/Eyq92APYDt5tEsvmsSHuCtX3KFJuKgmhLiry3EUaScuh/agents.md) — CLAIMABLE, goal $50,000
- [Bountive](https://permissionless.metadao.fi/raises/6YJbUyYug9nnj6ga83KSNBSNk46tpvxnAprQb1DPAoVp/agents.md) — CLAIMABLE, goal $12,000
- [Basket](https://permissionless.metadao.fi/raises/AtBwB8fYsxLLSt3mwK9Ma4joCpG9yuPzxBEcSsEaiSAT/agents.md) — OVERSUBSCRIBED, goal $10,000
- [ordr.trade](https://permissionless.metadao.fi/raises/HwvxqXHcRNKikH8RsqRRaV6NCpzxg1g5tHgnMfsdaaEj/agents.md) — OVERSUBSCRIBED, goal $150,000
- [HIIE, from AL](https://permissionless.metadao.fi/raises/9oFattEBT5A34JHaCz4BJQHtSJuL8Wzaj2AszWxx3khW/agents.md) — CLAIMABLE, goal $250,000
- [Clytheriq Chain](https://permissionless.metadao.fi/raises/BawJPh331hYBctANtrnky3Rof1jYtSE4ckoYLqQvmGd7/agents.md) — CLAIMABLE, goal $500,000
- [Bountive](https://permissionless.metadao.fi/raises/DaBxHyopVqt52zzCPpxNiK6stDwdv6Zf9Ep9hndBPEE7/agents.md) — CLAIMABLE, goal $12,000
- [GardenDAO](https://permissionless.metadao.fi/raises/HLCNhF5rsrcWJLTLJYuGaYDQXJSPorMERm3ZcQz17R29/agents.md) — CLAIMABLE, goal $2,000,000
- [Areal Finance](https://permissionless.metadao.fi/raises/DGRgqaGL2sQnGM6WzBmvXTT5XhnEkTdKecGmF1mswtL5/agents.md) — FUNDED, goal $10,000
- [GeSIM](https://permissionless.metadao.fi/raises/9qEQo5P6kwcWg1YhyPB5CEX6MAzufsT3a25HuxQg7WhC/agents.md) — OVERSUBSCRIBED, goal $28,000
- [PRISM Protocol](https://permissionless.metadao.fi/raises/AJa28KvLBXjqiGzbVgeQZxn7bAnwZ2thscx8V3wvejWc/agents.md) — CLAIMABLE, goal $20,000
- [Talaria](https://permissionless.metadao.fi/raises/D1zRtkZ8c5JajdkSDPvatpALf74KNQZtfjZvmh1sLZjc/agents.md) — CLAIMABLE, goal $50,000
- [Arcade Cafe](https://permissionless.metadao.fi/raises/1AEZZsShFCnC8UUetqk9hGby66Q5mgyszDHdXjAmdYe/agents.md) — CLAIMABLE, goal $200,000
- [PrivateDAO](https://permissionless.metadao.fi/raises/9zmeFEbtf5hLi7YtMckskfNffajdCq5FeSi5pNfVN361/agents.md) — CLAIMABLE, goal $50,000
- [Rugpull Club](https://permissionless.metadao.fi/raises/5S3bKMvxMhixAowK6WkdH5iRapmhd2PiKHt2bBSNxDha/agents.md) — CLAIMABLE, goal $10,000
- [Rugpull Club](https://permissionless.metadao.fi/raises/yyBEsbz9q3L1i5423kxUVTfGBK42KptRt6Jq6FngDix/agents.md) — CLAIMABLE, goal $10,000
- [Kavex](https://permissionless.metadao.fi/raises/GkhJz5pRUd3vYc6K3MFYGaoomCVzLdrcGgwuLpnHMKcy/agents.md) — CLAIMABLE, goal $100,000
- [Areal Finance](https://permissionless.metadao.fi/raises/BBHFc6prZ55DuvXcWSPG2uu816cjHCCzKZDcNMvt5oCP/agents.md) — CLAIMABLE, goal $20,000
- [Tributary](https://permissionless.metadao.fi/raises/99vD3p7e5p4vStrn4mX5Uzrqg9A4bica3wisAUQygG6B/agents.md) — CLAIMABLE, goal $176,000
- [sanctum done right fork](https://permissionless.metadao.fi/raises/3SWD1jNDe6C1qbuDefXng6DQA2DnM8WKPpgH6nL7cuDg/agents.md) — CLAIMABLE, goal $1,200,000
- [Boltick](https://permissionless.metadao.fi/raises/p3f1RW1uWTjraL99dCmqQ3uCtSTfKhSWdRxxKoAoaWx/agents.md) — CLAIMABLE, goal $200,000
- [Jurassic Finance](https://permissionless.metadao.fi/raises/F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG/agents.md) — OVERSUBSCRIBED, goal $200,000
- [Areal Finance](https://permissionless.metadao.fi/raises/8tT1npieq27dySTKFWJiMBRg5FbZRTuscYRq4wR4oLZo/agents.md) — CLAIMABLE, goal $10,000
- [Diverg](https://permissionless.metadao.fi/raises/5mbLJavVEu9hRgEd9Sg2GCQSNMjRWc9t6ZzjamndU64q/agents.md) — CLAIMABLE, goal $25,000
- [Bynomo](https://permissionless.metadao.fi/raises/2aJ7mzSagAVYr1hYFgJAYHCoDLbvkjTtRRe44knWidRc/agents.md) — CLAIMABLE, goal $50,000
- [Solar](https://permissionless.metadao.fi/raises/5oyuNXQ8CpRn5oFGNszYGjrPknU1AMeQhuxwUdJpaMDT/agents.md) — CLAIMABLE, goal $150,000
- [Nvision ](https://permissionless.metadao.fi/raises/6e3Xz2CUmXabyhMEQ3QpJUgPKP65HVzXP8X5qtb5a2YZ/agents.md) — CLAIMABLE, goal $50,000
- [Universal Revenue Service](https://permissionless.metadao.fi/raises/6LRN6j1EdbkXkjQybpKbpb4xWc84Ps7LPNHwtQqA7cGC/agents.md) — CLAIMABLE, goal $50,000
- [Quantum Waffle](https://permissionless.metadao.fi/raises/4Wm4NFVy9MKgSJe3ZT8aKwbL3dc5XxvnWdPhvC4Sinow/agents.md) — CLAIMABLE, goal $50,000
- [Valgrid](https://permissionless.metadao.fi/raises/BY1uzGNg8Yb5kPEhXrXA9VA4geHSpEdzBcTvPt7qWnpY/agents.md) — CLAIMABLE, goal $150,000
- [NFA.space](https://permissionless.metadao.fi/raises/FfPgTna1xXJJ43S7YkwgspJJMMnvTphMjotnczgegUgV/agents.md) — CLAIMABLE, goal $125,000
- [ShopsBuilder AI](https://permissionless.metadao.fi/raises/6qtygHxrFzF3tucXcy6EzbwZJBRbiuZAZrsXapXZLxE3/agents.md) — CLAIMABLE, goal $420,000
- [Git3](https://permissionless.metadao.fi/raises/6JSEvdUfQuo8rh3M18Wex5xmSacUuBozz9uQEgFC81pX/agents.md) — CLAIMABLE, goal $50,000
- [Mycorealms](https://permissionless.metadao.fi/raises/zwVfLheTvbXN5Vn2tZxTc8KaaVnLoBFgbZzskdFnPUb/agents.md) — CLAIMABLE, goal $125,000
- [Etnl.io](https://permissionless.metadao.fi/raises/4oiZeLhoDB9jGTFd28kJDKBYheL1Yg1XwR3qPTa69Rx9/agents.md) — CLAIMABLE, goal $500,000
- [Seeker Vault](https://permissionless.metadao.fi/raises/7AMzZD3JZ15FCX2eoC17KgJD5Ywum9J5i7E9BAbgc2vi/agents.md) — CLAIMABLE, goal $50,000
- [NexID](https://permissionless.metadao.fi/raises/9diK9jWj4vEbCw6mKaSekdn2vw2R62jFDhCgYerCo8jK/agents.md) — CLAIMABLE, goal $50,000
- [Areal](https://permissionless.metadao.fi/raises/4mgSftMwb86RKe4P73b7iY1YzyNwGPtW8EmyGJyACykG/agents.md) — CLAIMABLE, goal $50,000
- [LobsterFutarchy](https://permissionless.metadao.fi/raises/2d9RAui8BGYh8Jt7dc49WSFTuXVRT4nNE4Sy2mUtALNZ/agents.md) — CLAIMABLE, goal $500,000
- [Ludex AI](https://permissionless.metadao.fi/raises/95HNkVuqzStFe7B6Aw32sgkbwkHEyEsA818izKKTz776/agents.md) — CLAIMABLE, goal $500,000
- [You Get Nothing](https://permissionless.metadao.fi/raises/4xAEV1JHuNSLLdMCa8tiC6CdVYpEXttuZ8U9izv9ALjp/agents.md) — CLAIMABLE, goal $69,069
- [FUTARDIO Boat](https://permissionless.metadao.fi/raises/rFdgjcZYHgcsGy44iyvN95JRjB3Yr8APps437cd2HEL/agents.md) — CLAIMABLE, goal $150,000
- [Launchpet](https://permissionless.metadao.fi/raises/BWeT96hGV245sm6Ua4EhLPL8GngcBV2aKS2uvkaEkjBi/agents.md) — CLAIMABLE, goal $60,000
- [BlockRock](https://permissionless.metadao.fi/raises/J7CmLqfMLVq67swRQa6xCWn7VcyfpyhFSiQdJYNwkP8k/agents.md) — CLAIMABLE, goal $500,000
- [Phonon Studio AI](https://permissionless.metadao.fi/raises/x1yqPH8mutuiqkrz66DPwFw1ykQqT4v5KyUUtUzBgPA/agents.md) — CLAIMABLE, goal $88,888
- [Areal Finance](https://permissionless.metadao.fi/raises/H6xSaDsnq9yUKpoLi3svozYGkRKbfKm4peX98CzDtmqp/agents.md) — CLAIMABLE, goal $50,000
- [RunBookAI](https://permissionless.metadao.fi/raises/9DfNVpcDm6x1GXUa8wik8YVZhiw7dTmmhefVBWVZuAg8/agents.md) — CLAIMABLE, goal $350,000
- [Insert Coin labs](https://permissionless.metadao.fi/raises/62Yxd8gLQ2YYmY2TifhChJG4tVdf4b1oAHcMfwTL2WUu/agents.md) — CLAIMABLE, goal $50,000
- [Seyf](https://permissionless.metadao.fi/raises/2TK2hDtyNAY2hbV3yHDoVaAPSfaod2sHX7PtWPz8QfmQ/agents.md) — CLAIMABLE, goal $300,000
- [Torch Market](https://permissionless.metadao.fi/raises/5ocdHgwhMwVDzUbE7ctjdkBmP4fauPsVfb2mfUsSmhRD/agents.md) — CLAIMABLE, goal $75,000
- [TriDash](https://permissionless.metadao.fi/raises/5jK8akFVVkM9JAJKps6M9eECCBoSLM7meR2Kf5Kc47f7/agents.md) — CLAIMABLE, goal $50,000
- [Git3](https://permissionless.metadao.fi/raises/HKRDmghovXSCMobiRCZ7BBdHopEizyKmnhJKywjk3vUa/agents.md) — CLAIMABLE, goal $100,000
- [BitFuTard](https://permissionless.metadao.fi/raises/3jDrz2B6aDgjKSArkJPkqQPnYXqtihjAtGHf7tRohjj2/agents.md) — CLAIMABLE, goal $100,000
- [Send Arcade](https://permissionless.metadao.fi/raises/ActRESLUCdMzU4BnEE5VtMM2JG5ghZuKWkjXfiB5GdS7/agents.md) — CLAIMABLE, goal $288,000
- [Island](https://permissionless.metadao.fi/raises/FpFytak8JZwVntqDh9G95zqXXVJNXMxRFUYY959AXeZj/agents.md) — CLAIMABLE, goal $50,000
- [i.rich](https://permissionless.metadao.fi/raises/87ZWGbregxaa7TMD3TgYg6n2ADdTN1vqXpVCtSvKjEjw/agents.md) — CLAIMABLE, goal $100,000
- [Pli — Crêperie Ambulante](https://permissionless.metadao.fi/raises/GmNzSXzQ3q6UCVRpBf8PkvEqoo454Qr6twWc9zuzJzBa/agents.md) — CLAIMABLE, goal $350,000
- [Proph3T](https://permissionless.metadao.fi/raises/316rXWmR84ppwS4FKfZQWPmwqQCQi4NRWCbeVwYqDPna/agents.md) — CLAIMABLE, goal $50,000
- [one of sick token](https://permissionless.metadao.fi/raises/Gdyb1kNw26gve1VqU3zRxwZJhwJd5nAQ4goKNvAQBv9K/agents.md) — CLAIMABLE, goal $50,000
- [SeekerVault](https://permissionless.metadao.fi/raises/7U7F3g1y81PJ97pQdA85moD732kctKGLizKgCHqnGW2d/agents.md) — CLAIMABLE, goal $75,000
- [MONEY FOR STEAK](https://permissionless.metadao.fi/raises/ay6ZwDSGWma5AW9mnM69M8BbT9LNMimjbi7o4Uj4iVW/agents.md) — CLAIMABLE, goal $50,000
- [FUTARA](https://permissionless.metadao.fi/raises/Gt9eVcwmH8mNVyCWWRfL3K1CFxaVNpSJGKtUujwRjFU6/agents.md) — CLAIMABLE, goal $50,000
- [TEST](https://permissionless.metadao.fi/raises/9SzcHQzMbxBbCEtLyRsuUcQn8cMSzjxnDG9WuSZCMJM5/agents.md) — CLAIMABLE, goal $100,000
- [Superclaw](https://permissionless.metadao.fi/raises/5BV8dmpaYz7Rj54EFisJiw2EjfgupqAELbjy5mV5sCrE/agents.md) — OVERSUBSCRIBED, goal $50,000
- [lososdao](https://permissionless.metadao.fi/raises/Aji1A3Fu6iBSh6kAysG9TR5o4cPB1RxzYwWqw8Xkbc5o/agents.md) — CLAIMABLE, goal $50,000
- [SizeMatters](https://permissionless.metadao.fi/raises/CtynMdGE4CwJuUSoYhRf4powwKwT8bWo5Dq2KiBVEiKm/agents.md) — CLAIMABLE, goal $75,000
- [XorraBet](https://permissionless.metadao.fi/raises/24fzAzy51sUFSnRf4qpTqSrrugiKcJ8uVh2TSnQrDdoY/agents.md) — CLAIMABLE, goal $410,000
- [Futarchy Arena](https://permissionless.metadao.fi/raises/8UjuYsm1m8uNNVSeA1NSwvV6ch9G2QC14yKvpXjrRgw/agents.md) — CLAIMABLE, goal $50,000
- [Vervepay](https://permissionless.metadao.fi/raises/CrRTdZWr8iectFdEXi2FdDGNFSLT3LEX3i1xVNiJqEpc/agents.md) — CLAIMABLE, goal $200,000
- [DigiFrens](https://permissionless.metadao.fi/raises/HTyjkYarxpf115vPqGXYpPpS9jFMXzLLjGNnVjEGWuBg/agents.md) — CLAIMABLE, goal $200,000
- [Cloak](https://permissionless.metadao.fi/raises/9MqyiXXJUAXQ1Uy5j2EV8hq21UeR3ruukWkZ1XGNhg3R/agents.md) — CLAIMABLE, goal $300,000
- [VERSUS](https://permissionless.metadao.fi/raises/97zmRbfpCR88KkFucJnUvMKEaFg5ay6GxQSWmyEsdi67/agents.md) — CLAIMABLE, goal $500,000
- [Manna Finance](https://permissionless.metadao.fi/raises/5whxoTjxW4oKeSN4C8yf5JUur7pcSChkPWgmhSZQ8oD5/agents.md) — CLAIMABLE, goal $120,000
- [Open Music](https://permissionless.metadao.fi/raises/4R1peXdUehAS1aWCdnrBfLRevGktsKH2euvBLdsYXbWu/agents.md) — CLAIMABLE, goal $250,000
- [Milo AI Agent](https://permissionless.metadao.fi/raises/4EhLS9CWQ2dQQe1nexxvB6D3c5jGaRCirpQ5GJFS43nR/agents.md) — CLAIMABLE, goal $250,000
- [Futardio cult](https://permissionless.metadao.fi/raises/3EZBeQPQNHYkxnbrMRXG56DK1QRG8DR7VhYAUyvUFBzK/agents.md) — OVERSUBSCRIBED, goal $50,000
- [Mycorealms](https://permissionless.metadao.fi/raises/A88sGec3GcVfyRXNXr9DyWN6wNEwSaCqeyzrmmakKFqf/agents.md) — CLAIMABLE, goal $200,000
- [Salmon Wallet](https://permissionless.metadao.fi/raises/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF/agents.md) — CLAIMABLE, goal $375,000