# Salmon Wallet ($SALMON) — Backable raise > Machine-readable companion to https://www.backable.biz/raises/Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF > Deal terms and escrow figures come from onchain and API records. The pitch > is the founder's own frozen text — Backable is permissionless and nobody > reviewed it. Listing is not endorsement. Open-source wallet governed by outcomes, not narratives. ## Status - state: CLAIMABLE - goal (hard cap on what the company receives): $375,000 - committed: $97,535 across 53 backers - raised (received by the company): $0 - claimable back by backers: $97,535 ## The deal - token price at goal (everyone pays this): $0.0375 - MCAP at open (team and existing-investor tokens excluded): $483,750 - FDV (all tokens, locked included): $483,750.04 - total supply (fixed; minting needs a market-approved proposal): 12,900,001 - supply split: backers 10,000,000 (77.5%) · liquidity 2,900,000 (22.5%) · team 1 (0.0%) - share of supply sold to backers: 77.5% - team lock before any unlock: 18 months - unlock ladder (3-month TWAP must hold each price): 2x → $0.075 · 4x → $0.15 · 8x → $0.3 · 16x → $0.6 · 32x → $1.2 - monthly budget after funding (onchain ceiling): $25,000 - at close (escrow releases): $300,000 to treasury (80.0%) · $75,000 seeds liquidity - runway at that budget: ~12.0 months ## Protections (identical for every raise) - Approved aligned parties are selected per raise. The raise page lists selected wallets at $0 until they commit, then updates their gross commitments before refunds. - Commitments sit in escrow; the team receives $0 unless the goal is met. - Goal missed → every backer can claim 100% of principal. The claim is a transaction the backer sends themselves; nothing arrives automatically, nobody can refuse it, and there is no deadline. - Oversubscribed → the goal is split pro rata by weight: time in escrow × early-fill boost × Ownership Score multiplier (none = no extra weight, log scale to a fixed cap, read from the committing wallet at close; linked wallets do not combine). Nobody is approved for more than they committed; the rest is claimable the same way. - After funding, spending above the published monthly budget requires a proposal decided by decision markets, not by the team. - Tokens are not equity and may be worth nothing. ## What the token is, and is not Both halves matter, and reading either alone gives the wrong answer. **It is not** a security, equity, loan or ownership interest. Holders have no legal title to any asset, no claim on revenue, no fiduciary duty owed to them, and no ownership of the Cayman segregated portfolio that holds the company's IP. There is no promise of return, buyback or future utility. **It is** a governance claim in a decision market. The treasury is governed by that market rather than by the team, spending above the published monthly budget has to pass it, and the segregated portfolio is contractually required to abide by certain of its determinations. The market can also stop funding the company and direct the money elsewhere. So "the DAO controls X" and "holders own nothing" are both accurate: the first is control through the mechanism, the second is legal title. **The mechanism is the top of the stack.** The constraints above are the structure's current settings, not its ceiling — the operating documents are themselves subject to the decision market, within the scope those documents define. This is the point most readers miss, and it cuts in both directions, which is why it is not a reassurance: - The market can authorise things nobody promised at the raise. - The market can also withdraw things a backer assumed. It "may revoke funds out of the pool at any time, or may cease using the funds for the currently contemplated project" (fundraise terms, paragraph 5). - Governance power is not legal effect. The market deciding to do a thing does not by itself make that thing lawful or effective; anything with its own regulatory path still has to travel it. The correct reading is therefore not "the page and the terms contradict each other" but "nothing here is fixed except the escrow and the claim." Score the raise on that basis. A page describing what the mechanism could authorise is not making a promise; a page claiming holders *own* an asset outright is overstating it, and that is still worth flagging. ## Diligence signals - disclosure score (mechanical — counts what the founder chose to show, not idea quality): 3/7 — missing: six required answers, market size cites a source, a metric with a date, a founder-stated risk, a named, linked team member - B1 transparency filing: filed - concentration: top wallet exeCeqDuu38PAhoFxzpTwsMkMXURQvhGJE6UxFgGAKn holds 20.5% of committed capital across 53 backers - vetting: none — anyone can publish a raise for $15; do your own research - investors on record before this raise: none ## Founder claims (unverified — absence is itself a disclosure) - edge, in the founder's words: not provided - founder commitment (self-stated): not stated — that silence is an answer - founder-stated TAM: not provided - metrics: none provided ## Links (founder-provided — verify control yourself) - website: https://salmonwallet.io/ - x: https://x.com/salmonwallet - telegram: https://t.me/salmon_wallet - docs: https://docs.salmonwallet.io - blog: https://medium.com/@salmonwallet - linkedin: https://www.linkedin.com/company/salmon-wallet ## Onchain - raise: Aakx1gdDoNQYqiv5uoqdXx56mGr6AbZh73SWpxHrk2qF (v0.7) - token mint: DDPW4sZT9GsSb2mSfY9Yi9EBZGnBQ2LvvJTXCpnLmeta - quote mint: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v - base vault: 8rsRwcKc4QiUe2BQXGhrB8yXPYrNN1oVs7fgpBsWfb3r - quote vault: 57wxHSx684yVjcnJyeY4Ho6owfpdKC35EtY42Pvku6MG - authority: LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt ## Founder's pitch (verbatim, frozen at publish, unreviewed) ## Team ### Salmon Wallet — Founder Since 2022 Salmon Wallet is an open-source, self-custodial cryptocurrency wallet built to return to users what the crypto movement once promised: freedom, transparency, and true ownership. Developed primarily on Solana, and extended to Bitcoin, it offers one unified, secure, and sovereign platform — with no hidden fees or intermediaries. Our mission is principled and clear: to give users back full control of their funds, guided by a community-first, decentralized philosophy that rejects opacity and speculation. Every aspect of Salmon Wallet is designed under one conviction: technology should serve people, not profit from them. This commitment to integrity and open governance has already drawn growing attention from early adopters who believe in building the next generation of DeFi-based on trust, code, and community. The SAL token enables collective decision-making through a futarchy model, where results determine direction. Funds are safeguarded by market-based governance, making Salmon Wallet a truly unruggable project, secure against manipulation, and aligned with values of fairness, participation, and transparency. But beyond code, Salmon represents a movement: A return to the ethical roots of crypto, where users (and not corporations) decide the future. Early supporters are not just investors: they are co-founders of an ecosystem built on honesty, clarity, and collective strength. We are listed on the wallet adapter since 2022 ## Problem Anyone who has spent time in the crypto space can feel it: the movement that once stood for freedom and transparency has been quietly absorbed by corporate logic. The dominant wallets have lost sight of the values that gave birth to crypto itself. Some become closed, secretive, and self-serving, guarding its code instead of opening it to the community. Others hops between networks with ease, but always leave behind hidden fees that bite the very users who made it famous. These aren’t isolated issues; they confirm what many in the community have long suspected: decentralization has been sold back to us in centralized packaging. What was meant to be digital freedom now feels like a branded toll road, where the promise of autonomy has turned into a license fee. ## Solution Salmon Wallet exists to bring things back to how they were meant to be. It’s the confirmation of what users have always believed crypto should stand for: transparency, fairness, and collective power. Here, everyone knows exactly what they pay. No hidden fees. No surprises. And those fees are decided by the community itself through open governance. The project remains faithful to the original crypto vision: Salmon runs its own validator on the Solana network, ensuring transparent and verifiable income directly aligned with the ecosystem that sustains it. In Salmon, every line of code is open, every decision is collective, and every transaction serves a clear purpose. Because those who believed in decentralization from day one know this truth: the future of finance cannot be built on secrets, but on open code, community, and coherence. --- ## Fundraise Goals **Minimum raise: $ 375,000 USD** Funds will be used to support ~12 months of execution across product, infrastructure, and governance: * **Ship and maintain core wallet features** across Solana, Bitcoin, and additional supported networks. * **Maintain a strong security posture** by treating open-source code as adversarial by default, with continuous audits and testing * **Operate and sustain infrastructure,** including RPC reliability, and backend services required for non-custodial usage.. * **Release and iterate iOS and Android apps,** ensuring feature parity and secure key management across platforms. * **Improve UX and reliability** across key flows, including key generation, signing, transactions, and upgrades**.** * **Execute targeted user acquisition and ecosystem partnerships,** focusing on high-intent users, open-source integrations, and measurable adoption rather than broad paid campaigns. * **Support community-led growth and education,** favoring transparency and participation over paid acquisition. Eg Bub Bounty * **Expand open-source documentation and developer tooling** to support contributors and integrations. ### Internal and External Contributions/Payments **Bootstrapped Funding** 2022: 80K **Grants 2022-2024** Serum: 2.5K Eclipse: 40K **Links & Technical Information** - Website: https://salmonwallet.io/ - GitHub: https://github.com/salmon-wallet - Twitter/X: https://x.com/salmonwallet - Telegram: https://t.me/salmon_wallet **Token name and ticker:** Salmon Token, SAL **Minimum raise amount:** $375,000 **Monthly team budget:** Calculated based on team size, operational costs, and development roadmap — $25,000 USD **Performance package configuration:** 0% **Intellectual property:** All open-source code available on official GitHub repository # Use of Funds **Target Runway:** 12 months **Average Monthly Burn:** ~$25,000 USD Salmon is building a verifiable, open, governance-aligned wallet infrastructure with disciplined capital execution. ## **12-Month Execution Plan — $300,000 USD** ### Monthly Burn Breakdown Team — $18,300 / month (73%) Infrastructure — $4,200 / month (17%) Growth & Ecosystem — $2,000 / month (8%) Governance, Legal & Contingency — $500 / month (2%) ## Roadmap & Milestones **12-Month Delivery Plan** ### Q2-2026 (Months 1–3) * Android public release * WebApp relaunch * Signing flow integration & optimizations * Initial internal performance metrics tracking * Structured release cadence and QA process * Partnership program launch ### Q3-2026 (Months 4–6) * iOS TestFlight release * Staking integration * Wallet in Watch Mode * AI powered transaction security * Reliability enhancements * Governance tooling alpha (SAL signaling integration) * Wallet-as-a-Service draft design ### Q4-2026 (Months 7–9) * Custom notification system * Portfolio view * Ecosystem protocol integrations * Contributor program guidelines * UX iteration based on user feedback * Wallet-as-a-Service release ### Q1-2027 (Months 10–12) * Cross-platform optimization (mobile + extension) * *Potential integrations with other projects* * *More features TBD* --- ## Market & Differentiation ### Target Market Primary: * High-intent crypto-native users * Solana ecosystem participants * Bitcoin self-custody users * Open-source aligned builders Secondary: * Governance-focused communities * Developers integrating wallet tooling ### Competitive Edge * Fully open-source core components * Security-first engineering discipline * Operational reliability focus * Integrated governance framework (SAL) * Capital-efficient execution model ### Go-to-Market * Ecosystem integrations * Developer-first positioning * Select strategic partnerships * Community-driven growth * Contributor incentives and bug bounties * Technical content and transparency #### Avoided strategies * Broad paid marketing campaigns * Short-term speculative incentives * Vanity growth metrics ### Team (founder-provided) - Salmon Wallet (Founder) ## Raise terms (verbatim, as printed on the raise page) The founder publishes the terms of this raise at https://www.salmonwallet.io/terms ## How the mechanism works - https://www.backable.biz/docs/how-backable-protects-you — escrow, claims, budgets in one page - https://www.backable.biz/docs/doing-your-own-research — the diligence checklist this file feeds - https://www.backable.biz/docs/reading-tokenomics — FDV, supply, unlock ladders, TWAPs - https://www.backable.biz/docs/committed-vs-raised — why committed and raised differ - https://www.backable.biz/docs/metadao-2 — MetaDAO 2.0: typed proposals and the adaptable performance package