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A little-known privacy project, Umbra, launched its initial coin offering (ICO) on Solana yesterday.
As I write this, Umbra is already 1169% oversubscribed over its $750 million raise target.
Source: MetaDAO
The real story here isn’t Umbra — it’s the infrastructure that’s powering its sale: MetaDAO’s “Unruggable ICO” futarchy launchpad.
A lot has already been written on the intersection of crypto and futarchy by people smarter than me, but here’s the gist: Futarchy is the simple idea that governance should be decided by markets, rather than “one man, one vote”…
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