# Orendal ($ORENDAL) — Backable raise

> Machine-readable companion to https://www.backable.biz/raises/GQnX6vt9VBtGpsLyyrXJkjpVroFAAtCQjySvx1hii6iT
> 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.

Token launch intelligence. Compare terms and track fundraising outcomes, starting with Solana. More launchpads and blockchains planned.

## Status

- state: LIVE
- goal (hard cap on what the company receives): $20,000
- committed: $11,111.16 across 10 backers
- closes: 2026-10-24T21:58:28.000Z

## The deal

- token price at goal (everyone pays this): $0.002
- MCAP at open (team and existing-investor tokens excluded): $25,800
- FDV (all tokens, locked included): $51,600
- total supply (fixed; minting needs a market-approved proposal): 25,800,000
- supply split: backers 10,000,000 (38.8%) · liquidity 2,900,000 (11.2%) · team 12,900,000 (50.0%)
- share of supply sold to backers: 38.8%
- team lock before any unlock: 18 months
- unlock ladder (3-month TWAP must hold each price): 2x → $0.004 · 4x → $0.008 · 8x → $0.016 · 16x → $0.032 · 32x → $0.064
- monthly budget after funding (onchain ceiling): $3,000
- at close (escrow releases): $16,000 to treasury (80.0%) · $4,000 seeds liquidity
- runway at that budget: ~5.3 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): 6/7 — missing: six required answers, market size cites a source
- B1 transparency filing: filed
- concentration: top wallet 3ErTUFCAvrahAvSEh6vVqNN9cZHur8oE1c4JN9EebDxz holds 30.2% of committed capital across 10 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: Orendal continuously normalizes terms, live demand and outcomes across launchpads into comparable project pages, alerts and personalized AI research.
- founder commitment (self-stated): full-time on this — your only job, starting now.
- customers: Self-directed crypto participants researching early-stage token raises across launchpads and blockchains before committing capital.
- why they buy: To assess launches faster without checking multiple platforms and reconstructing fragmented data.
- how the founder knows it solves a real problem: We encountered the problem firsthand: researching token raises required manually combining terms, deadlines, links and onchain contribution history.
- founder-stated TAM: not provided
- metric — Launches indexed: 45 (as of 2026-10-15)
- what exists today (founder-reported): 2 of 5 parts live
  - Launch catalog: live
  - Project research pages: live
  - Continuous data pipeline: building
  - Watchlists and alerts: planned
  - AI and data access: planned

## Links (founder-provided — verify control yourself)

- website: https://orendal.io
- x: https://x.com/orendalio
- demo: https://orendal.io

## Onchain

- raise: GQnX6vt9VBtGpsLyyrXJkjpVroFAAtCQjySvx1hii6iT (v0.7)
- token mint: 95XVMy1tQcn4gsxu88JiCCw6k5oLJ74xhbAa7Gr3meta
- quote mint: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v
- base vault: 7AWXQQZHcaaF66EsK4KAWDM5h4ouE4L3f1AEqcyRspuw
- quote vault: JJKkrDnFewqLK18zwt5ShceeqNRkxuwh5zm3QACh1nk
- authority: LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt

## Founder's pitch (verbatim, frozen at publish, unreviewed)

> Under "Who it's for", Segment, Role and Trigger answer the builder's questions
> "Who are your customers?", "Why will they buy it?" and "How do you know it
> solves a real problem?" — see Founder claims above.

## The problem

Early token launches are scattered across launchpads, blockchains, social feeds and explorers. Each venue uses different terms and presents demand differently, so backers must manually reconstruct what is launching, how the raise works, whether the data is current and what happened in comparable launches. That work is slow, easy to get wrong and often happens while the funding window is closing.

## The edge in one line

Orendal continuously normalizes terms, live demand and outcomes across launchpads into comparable project pages, alerts and personalized AI research.

## Who it's for

Segment: Self-directed crypto participants researching early-stage token raises across launchpads and blockchains before committing capital.

Role: To assess launches faster without checking multiple platforms and reconstructing fragmented data.

Trigger: We encountered the problem firsthand: researching token raises required manually combining terms, deadlines, links and onchain contribution history.

## Why this, why now

Token fundraising is moving onchain and spreading across launchpads, but every platform presents different terms, mechanics and data. Better indexing infrastructure and AI now make it practical to normalize live launch data and turn it into comparable research, monitoring and personalized analysis. The problem is no longer access to data, but making fragmented information actionable before a launch closes.

## What we're building

### Launch catalog (live today)

A working catalog of active, upcoming and completed raises from the first supported launchpads.

### Project research pages (live today)

Comparable terms, schedules, contribution activity, wallet concentration, source links and project information.

### Continuous data pipeline (building)

Automated discovery and recurring updates are implemented and being prepared for reliable production operation.

### Watchlists and alerts (planned)

Personal tracking for new launches, meaningful funding changes, approaching deadlines and outcomes.

### AI and data access (planned)

Personalized research assistance plus API, MCP and agent access to normalized launch data.

## Traction

A functional pre-release beta is built but not publicly launched. It aggregates Backable and MetaDAO launches into a catalog and project pages with funding terms, schedules, contribution history, wallet concentration and source links. The founder and team currently use it to validate the product and data pipeline; external user testing has not started.

## Key metrics

- Launches indexed: 45 (as of 2026-10-15)

## Use of funds

Of the $20,000 raise, $4,000 is allocated to launch liquidity and $16,000 to product development and operations. Funds will support additional launchpad and blockchain integrations, data quality, infrastructure, watchlists, alerts, comparison tools, and user acquisition. At the $3,000 monthly spending cap, the operating budget covers approximately 5.3 months.

## Roadmap

### November 2026 — Public beta

Deploy Orendal publicly with monitored Backable and MetaDAO coverage, stable project pages and production operations.

### December 2026 — Broader coverage

Add the first new launchpad and begin coverage beyond the initial Solana-focused sources.

### January 2027 — Watchlists and alerts

Let users follow launches and receive updates about starts, deadlines, funding changes and outcomes.

### February 2027 — Comparisons and history

Add side-by-side launch comparison and historical benchmarks across platforms and funding mechanics.

### March 2027 — Personal AI research beta

Introduce an assistant that answers sourced questions, compares launches and monitors user-defined interests.

### April 2027 — API, MCP and agent access

Open normalized launch data to external products, developers and AI agents through paid access.

## Team

### Samp Stone — Founder/CEO

Built Orendal's working pre-release product and its source-backed data pipeline for normalizing token launches across platforms.

## Risks

### Incomplete source coverage

Launchpads expose different and sometimes incomplete APIs, pages and onchain records. Orendal may miss a launch or show only part of its history until a reliable source is integrated.

### Stale or incorrect data

A source outage, schema change or decoding error could delay updates or display incorrect funding information. The product depends on monitoring, validation and clear source boundaries.

### Insufficient user demand

Users may prefer free launchpad pages, social feeds or general aggregators and may not return often enough to support subscriptions.

### Short funded runway

The $20,000 raise provides about 5.3 months of operating expenses at the published limit. Further development may require revenue, a later raise or a DAO-approved proposal.

## Go to market

We will launch with public, source-backed pages for real token raises and distribute concise data updates through X, Telegram and launchpad communities. Each update will link to a useful project page rather than a generic landing page. We will work with founders and ecosystem communities to make Orendal the shared research link for a raise, then expand through searchable launch archives, watchlists, alerts and integrations as coverage grows.

## Differentiation

Orendal brings launch terms and available funding history into a consistent research view. Users can distinguish contributed from accepted capital and examine deadlines, funding milestones, wallet concentration and raise outcomes where data is available. Source references and clearly marked data gaps help users assess the evidence. Planned watchlists, alerts, comparison tools and AI-assisted research will build on this structured data.

### Team (founder-provided)

- Samp Stone (Founder/CEO, full-time): https://x.com/samp_stone

## Raise terms (verbatim, as printed on the raise page)

By contributing to the fundraise for tokens ("Tokens"), you acknowledge and agree to the [Backable Terms of Service](https://www.backable.biz/terms). Without limiting the foregoing, you also acknowledge and agree to all of the following information, terms and conditions:

The above descriptions, terms, and other content were created, determined, and supplied exclusively by prospective project contributors related to the ICO and are being republished on Backable for convenience of reference only, as third-party content. Backable is a technology platform being used by the prospective project contributors, and the owners and operators of Backable and their respective affiliates are not the persons creating, endorsing, sponsoring, or discretionarily operating the ICO. Backable and its owners and operators and their respective affiliates assume no (and by participating in the ICO or otherwise using Backable, you agree that they shall not have any) responsibility or liability for the accuracy or completeness of the above descriptions, terms and other content, or any other representations, statements, opinions, projections, terms, or information made by or on behalf of the prospective project contributors in connection with the ICO.

The following terms and conditions apply between you, on the one hand, and, on the other hand, both the owners and operators (and their affiliates) of Backable or MetaDAO and the prospective ICO project contributors and related legal entity(ies) and their respective affiliates:

1. **No Guarantees.**
   The Tokens are provided on an "as-is" and "as-available" basis. Participation in the fundraise does not come with any guarantees, promises, or assurances of any kind, including, but not limited to, financial return, performance, future utility, or access to any platform, product, or service.

2. **Not an Offer of Securities.**
   The Tokens do not represent a security, equity, loan, or ownership interest in any entity or project. Participation in this fundraise is not intended to be, and shall not be construed as, an offering of securities, nor does it constitute an offer or solicitation in any jurisdiction where such activity is unlawful. You are responsible to refrain from participation in the ICO if your jurisdiction does not permit such participation.

3. **Final Sale, Except As The Program Provides.**
   Except for the amounts the escrow program itself makes claimable as described in paragraph 7, contributions made as part of the fundraise are final. No party has the discretion to refund you, and you will not be entitled to a refund or compensation on any other basis, including loss of value or inability to use the Tokens. Where the program does make an amount claimable, no party has the discretion to withhold it either.

4. **No Liability for Losses.**
   To the fullest extent permitted by applicable laws, neither the organizers of this fundraise nor any of their affiliates, agents, advisors, officers, or representatives shall be liable for any direct or indirect loss or damage you may suffer, including without limitation: trading losses, loss of data, revenue, profit, or opportunity; or any errors, delays, or technical failures related to the fundraise or the Tokens.

5. **Nature of Token MetaDAO Platform ICOs.**
   You acknowledge and agree that the ICO is a transaction entirely by and among ICO participants, in which such participants contribute certain blockchain tokens into the sole control or custody of Solana-based "smart contracts" or "programs" as a method of establishing a decentralized autonomous decision market oriented toward the research, development, promotion and/or utilization of the above-described project. The ensuing market oracle–sometimes also referred to as a type of "DAO"-- is intended to govern both the deposited tokens and aspects of the related project, using "[Futarchy](https://docs.metadao.fi/governance/overview)". These smart contracts or programs exist independently of Backable or MetaDAO, on the Solana blockchain, and do not have a legal "owner" or "custodian", but instead will be controlled by the market-based governance process embedded in the decision market protocol, as expressed in the code of the smart contracts/programs. The deposited tokens do not represent a capital investment in any legal entity (including the legal entity referred to in the following paragraph) or group of managers or entrepreneurs, and the decision market may revoke funds out of the pool at any time, or may cease using the funds for the currently contemplated project or using them to pay the currently contemplated prospective project contributors, and may instead use them for other purposes, as determined by the decision market oracle aka "DAO." The current prospective project contributors will not immediately own or have any discretionary or managerial control of the deposit pool, and any related services such prospective project contributors provide will be on an independent contractor basis to the community, as determined on an ongoing basis by the decision market oracle aka "DAO." The tokens issued by the program/smart contract in exchange for deposited funds are not initially owned by, and are not being sold or offered by, Backable or MetaDAO or the prospective project contributors or any related entity(ies), but rather are issued by the smart-contract/system itself to enable ongoing functionality of the related decision market oracle aka "DAO". Any funds received from the deposit pool by the current prospective project contributors or future project contributors represent retroactive or prospective compensation for work done or to be done by such project contributors that is approved by the related decision market oracle aka "DAO", on the initiative of, and based on the managerial or entrepreneurial efforts of, participants in that market aka "DAO participants".

6. **DAO-Adjacent Entity aka BORG.**
   One or more members of the prospective project contributors may have established a particular type of legal entity related to the project. These entities, known as cybernetic organizations, aka 'BORGs", hold intellectual property related to the project and may receive the funds, if any, determined by the decision market oracle to be paid to the prospective project contributors as compensation for work done or to be done related to the project. BORGs contain special rules designed to provide accountability of project contributors to the community, including prohibiting the issuance of equity securities and requirements to consult the decision market oracle (sometimes on a signaling basis, sometimes on a binding basis) for decisions related to their work on the project and the related intellectual property and assets. Many of these entities are "segregated portfolios" of a Cayman Islands entity called Futarchy Governance SPC. Segregated portfolios provide separate layers of assets and liabilities within this entity, and each particular segregated portfolio is managed in the sole discretion of its "Manager(s)", subject to the terms and conditions of Futarchy Governance SPC and the Operating Agreement of that specific segregated portfolio. The ICO does not represent an investment in the SPC or segregated portfolio, and participants in the ICO and holders of the tokens being issued in the ICO do not have any legal rights in or ownership of the SPC or segregated portfolio, and are not owed any fiduciary or other duties by the participants in the SPC or segregated portfolio, but the SPC, in respect of the segregated portfolio, is legally required to abide by certain determinations of the decision market created by the ICO. Please review the project description above to determine the specific legal entity(ies) or other arrangements identified by the prospective project contributors. You hereby acknowledge and agree that you have reviewed, or had the opportunity to review, the information and documents presented or linked to from that description and acknowledge, consent to and accept the risks of all related legal entities and arrangements.

7. **Understanding the Mechanism.**
   This is an onchain fundraising mechanism with a fixed token supply and a stated funding goal. Commitments are not capped, but the amount the project receives is: everything committed above the goal remains the property of the participant who committed it.
   If the funding goal is not reached by close, every participant may reclaim the whole of their contribution. If the goal is exceeded, each participant may reclaim whatever part of their contribution did not convert into Tokens.
   **These amounts are claimed, not sent.** They are released by the program when you submit a claim transaction from the wallet that made the contribution. Nobody can approve, condition, delay or refuse that claim, there is no deadline for making it, and equally nobody can make it on your behalf. The same is true of the Tokens themselves in a funded raise.
   By participating, you confirm that you understand the [program](https://github.com/metaDAOproject/programs) and have reviewed the relevant documentation available at [https://docs.metadao.fi](https://docs.metadao.fi).

By contributing or attempting to contribute to the fundraise for Tokens, you confirm that you have read, understood, and accepted the terms above.

## 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