Project & Team
Description of Project
Provide a concise narrative that clearly states each of (a)–(e) below.
- (a) Problem the project solves — The problem the project is solving.
- (b) Operational priorities — Provide a high-level description of how the project expects to support ongoing development and operations over time.
- (c) High-level project overview — How the project works at a high level.
- (d) Primary token functions — The primary functions of the token (e.g. gov participation).
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
(a) Problem the project solves
Museum-grade fossils are a multi-million-dollar asset class with no practical route to fractional participation. Specimens sell at auction to single buyers — Apex the Stegosaurus sold for $44.6M in 2024, Gus the T-Rex for $50.1M in 2026 — and below that headline tier, the market is opaque, privately brokered, and illiquid, with no price transparency and no way for anyone but a whole-specimen buyer to take a position. Ownership is also functionally at odds with public access: privately bought specimens usually disappear from view, while museums that want to display them rarely have acquisition budgets to compete.
Jurassic Finance addresses both. Each authenticated specimen is placed in its own Cayman SPV whose token confers a contractual co-ownership interest, so a specimen can be acquired by many participants rather than one buyer. The specimen is then placed with a museum partner that covers custody, insurance, and maintenance at no cost to the SPV in exchange for display rights — so the asset stays publicly visible and its carrying costs are borne by the partner rather than the holders.
(b) Operational priorities
Development and operations are carried out by the project's principal contributors, Aleksandar Pavlovic and Vukan Ljubojevic, working as independent contractors to the DAO. "Jurassic Finance Labs" is the operating name they work under, not a registered legal entity, and there is no foundation or separate development company; contracting where required is done by Futarchy Governance SPC acting in respect of Jurassic Finance SP. Specimen authentication and provenance work is supported by external advisors with natural-history expertise.
The work is funded by SPV origination economics: each specimen raise pays a 10% fee in USDC and allocates 5% of that SPV's token supply to the DAO treasury. Both are deployed into the specimen token's liquidity, and ongoing operating revenue comes from the trading fees those positions generate. When a specimen is sold and its SPV wound down, the position is closed and the 5% allocation redeems in USDC pro rata alongside all other holders on the same terms.
Contributor compensation is paid from the DAO treasury as approved by futarchy governance, subject to the standing monthly spending limit; expenditure above that limit requires a passed proposal. Origination is lumpy and low-frequency, so a period without a new specimen raise generates no new origination revenue.
(c) High-level project overview
Jurassic Finance Labs originates, authenticates, and structures special purpose vehicles that hold individual museum-grade fossil specimens, each incorporated in the Cayman Islands. Contributors to a specimen raise receive that SPV's token, representing a contractual co-ownership and stewardship interest in the single specimen the SPV holds; specimens are placed with museum partners who cover custody, insurance, and maintenance in exchange for display rights. $RAWR sits at the Labs layer above the SPVs and does not represent an interest in any individual specimen.
(d) Primary token functions
$RAWR represents ownership of the Jurassic Finance Labs treasury, which accrues the origination fees and SPV token allocations described above. Governance runs through MetaDAO futarchy markets, which are USDC-denominated and open to any participant rather than gated by $RAWR holdings — $RAWR is the asset whose value those markets are structured to optimize, not a voting credential. Individual specimen tokens such as $TRCH1 carry no governance rights.
(e) Control surface reliance
Governance is conducted onchain through MetaDAO futarchy markets, in which proposals pass or fail on market-determined price impact rather than through a multisig or council. The team retains a narrow emergency authority to act unilaterally where a specimen faces imminent physical or legal risk, subject to retroactive governance ratification. No change to this governance or control model is currently planned. Two keypair accounts may disburse from the treasury up to a standing monthly limit without a governance proposal.
Known Project Team
For each existing entity: Labs/DevCo (e.g., Founder, CEO, CTO, COO), Foundation (e.g., President, Executive Director, CFO, COO), and DAO / onchain governance leadership (if applicable) list the:
- (a) full names,
- (b) official titles,
- (c) and prior experience of key team members.
For any non-existent entity, explicitly mention it does not exist. External links may be included but they will not factor into the score.
Labs / DevCo
Full Name | Official Title | Prior Experience |
|---|---|---|
Aleksandar Pavlovic | CEO | 3 years marketing at LandX (farmland commodity tokenization on Ethereum); Project Manager studies, PMC University Belgrade |
Vukan Ljubojevic | COO | Founder of Blockformer, Solana creative studio; Founder of Ownership Media; former Marketing Manager at a multi-chain NFT marketplace; Communications degree, Bar-Ilan University |
Jurassic Finance Labs is the operating name of the project, not a registered legal entity. Aleksandar Pavlovic and Vukan Ljubojevic are the project's principal contributors and use the titles CEO and COO in that capacity; they are not officers of an incorporated company. No Labs or DevCo entity exists. |
Foundation
Full Name | Official Title | Prior Experience |
|---|---|---|
No foundation entity exists. The project's legal wrapper is Futarchy Governance SPC, a Cayman Islands segregated portfolio company formed via MetaLeX, acting in respect of Jurassic Finance SP, a segregated portfolio of that company. The segregated portfolio is not itself a separate legal entity and has no separate legal personality; the SPC is the contracting entity and the portfolio's assets and liabilities are ring-fenced from those of other portfolios. It is directed by DAO governance, and $RAWR holders have no shareholding, membership or other legal interest in it and are owed no fiduciary duties by it. The DAO-controlled assets it holds include the project's open-source codebases and repositories; the "Jurassic Finance" name, logo, visual identity system and associated trademarks are owned by the founding team and licensed to the DAO. There is no separate development company; the treasury funds development directly through futarchy-approved proposals. |
DAO / Onchain Governance
Full Name | Official Title | Prior Experience |
|---|---|---|
No named governance leadership exists. Governance is permissionless and market-based via the MetaDAO futarchy protocol — there are no delegates, council members, multisig signers, or elected officers. |
DAO Structure
Provide a structured description of the DAO's governance, powers, and economic rights. If a DAO does not exist, state so for each sub question. Even if there is no DAO, there must be an answer to (d). Address the lettered items below.
- (a) IP ownership & control — State what IP the DAO owns or controls (e.g., codebases/repos, trademarks/brands). Note any license if relevant.
- (b) Contract/admin powers — List on-chain or administrative authorities and limits: pause/upgrade roles (e.g., multisig pause), governance-executor authorities, and the method of authority for each (e.g., veto, majority, super-majority).
- (c) Locked-token rights (conditional) — If locking/staking for additional rights exists, explain the additional rights and what tokenholders can and cannot decide. If no locking mechanism exists, leave absent.
- (d) Current tokenholder governance rights and economic arrangements — If any, describe the current governance rights of tokenholders and any presently operative rights or arrangements relating to treasury actions, fee-routing, rewards, buybacks, or other protocol-controlled resources. If none, state that explicitly.
- (e) Control surface reliance — If any, briefly describe the anticipated or possible evolution of the protocol's governance/control model.
- (f) Dissolution authority — State who can dissolve/wind up the DAO and by what mechanism (e.g., on-chain vote threshold, board resolution of a legal wrapper).
(a) IP ownership & control
The DAO controls the project's codebases and repositories, which are open source and administered by the team on the DAO's behalf, along with any smart contracts, token mints, and program authorities created post-raise. The "Jurassic Finance" name, logo, visual identity system, and associated trademarks are owned by the founding team and licensed to the DAO for the duration of its operations; if the DAO is wound down, the brand and trademarks remain with the team. Fossil specimens are held at the SPV level, not by the DAO, with each specimen's legal title in its own Cayman Islands SPV.
(b) Contract/admin powers
All governance decisions are made through the MetaDAO futarchy protocol on Solana. Holders trade conditional outcome tokens on proposal markets and proposals resolve on market-determined price impact rather than a vote count, so there is no majority, super-majority, quorum or veto threshold. There is no council, delegate set, or governance multisig. Proposals require 200,000 tokens staked to go live, trade for three days, and are finalized on a lagging TWAP comparison of the pass and fail markets; execution on passage is immediate, with no additional timelock.
Token authorities. $RAWR mint: 4K1m7gAMDKzrxQn68yuZAd767w57Fw7Ykw69dG3umeta. Freeze authority is revoked (null). Mint authority remains live and is set to Dv5axGVuk3qcoEBNofNLerFFEE3VemmuH8VsmNWUTSR5, a program-derived address (off-curve; no private key can exist for it), so it can be exercised only programmatically through governance and not by any individual keyholder. There is no hard cap at the token-program level and no scheduled inflation; any issuance requires a publicly proposed, market-approved governance proposal. Supply at time of filing is 25,799,688.167270 tokens (6 decimals).
Launch accounts. Launch address F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG; launch signer 34R49TZ4c4HDdPaQKnECrR8kFn9H3n98A8zFHNEKdwCJ; launch authority LRrTQLqFzAPxjschuAKQAqH1XHBuBgHqwhybENStARt, a standard keypair account. Its function was limited to configuring and settling the ICO, including exercise of the discretionary cap. On settlement, the raise proceeds passed to the market-governed treasury and mint authority transferred to the governance program, as verifiable from the mint account above. The launch authority holds no continuing power over the token, the treasury, or the protocol: it cannot mint, freeze, or move treasury funds, and cannot execute or block governance proposals.
Treasury spending limit. Two member keys, 6sw2PeeG3EYTZSiq7k34f8i1e1XSx9ALKxP4NKcxPZWj and cbVkAwpX9pMEc6T3XqX2SUFbUmr8CLagVJc3CFsNgNW, held by the project's two principal contributors, may disburse from the treasury up to a standing limit of 8,000 USDC per calendar month without a governance proposal. Either key may draw the full monthly limit; the keys are not a multisig and no co-signature is required. Both are standard keypair accounts. The limit is enforced onchain, resets monthly, and can only be changed by governance. Any expenditure above it requires a passed futarchy proposal.
Team performance premine. Held at 6Dw1xBGXChPeS69hovvYMF2nmRxgdoA711TKuuAbN5rV, a program-derived address, and released only on the 18-month cliff and price-milestone tranches described under Initial Allocation.
Emergency authority. The team may act unilaterally where a specimen faces imminent physical or legal risk (fire, theft, regulatory seizure, transit failure), limited to protection of the asset and subject to retroactive ratification by governance. It does not extend to treasury movements, strategic decisions, or protocol changes.
(c) Locked-token rights (conditional)
No locking or staking mechanism confers additional rights. There is no staking program, no vote-escrow, and no mechanism by which locking $RAWR grants a holder governance weight, fee share, or any other right that an unlocked holder does not have.
The only locked allocation is the team performance premine of 12,900,000 $RAWR, held at the program-derived address 6Dw1xBGXChPeS69hovvYMF2nmRxgdoA711TKuuAbN5rV. It is subject to a minimum 18-month cliff, after which it unlocks in five tranches of 20% on sustained price milestones of 2x, 4x, 8x, 16x and 32x the ICO price, each measured over a 3-month time-weighted average price window that may be initiated at any time after the cliff. These milestones are price-based only and are not tied to operational or delivery milestones.
While locked, those tokens cannot participate in futarchy decision markets and carry no governance or economic rights. On release they carry the same rights as any other unlocked token and no more. Protocol-owned liquidity tokens are locked in their pools with no vesting schedule; ICO participant tokens were unlocked and freely transferable at distribution.
(d) Current tokenholder governance rights and economic arrangements
$RAWR holders govern Jurassic Finance Labs and every SPV that Labs originates. Governance is exercised through MetaDAO futarchy decision markets rather than token-weighted voting: proposals are decided by the market price of conditional outcome tokens. Participation in those markets is permissionless and USDC-denominated, so the ability to influence an outcome is not gated by $RAWR holdings; $RAWR is the asset whose value the decision markets are structured to optimise.
Treasury actions. The Labs treasury is controlled by governance. Disbursements within the standing monthly spending limit may be made by two member keys without a proposal; any expenditure above that limit requires a passed futarchy proposal. There is no separate development company; the treasury funds development directly.
Fee routing. Labs receives a 10% fee in USDC on each specimen SPV raise, plus 5% of that SPV's token supply. Both accrue to the Labs treasury and are deployed into the specimen token's liquidity. No distribution, dividend, revenue share, staking reward or fee-routing mechanism to $RAWR holders is presently operative. Any such distribution would require a passed futarchy proposal.
Rewards and buybacks. There is no emissions, rewards or staking programme. A strategic reserve buyback of SPV tokens and a lending market against SPV tokens are described in project materials as planned; neither is presently operative, and both would require governance approval before taking effect.
SPV tokens. Individual specimen tokens carry economic rights in their specimen and no governance rights; governance over every SPV runs through $RAWR. No specimen may be proposed for sale within 24 months of its acquisition.
(e) Control surface reliance
No change to the governance or control model is currently planned. Governance already runs through MetaDAO futarchy decision markets, and there is no roadmap step that transfers, concentrates, or removes control, and no planned migration to a different governance system.
Two developments are foreseeable but not committed. First, as further specimen SPVs are originated, each new SPV token programme and its associated authorities becomes an additional control surface; these will be disclosed as they are deployed. Second, the treasury spending limit and the team's narrow emergency authority over physical specimen risk could be narrowed or removed by governance; no proposal to do so is pending.
Any change to the control model would itself require a passed futarchy proposal.
(f) Dissolution authority
Dissolution requires a futarchy governance proposal passed by the decision market. There is no board, council, or multisig that can dissolve or wind up the DAO unilaterally, and no vote threshold applies because proposals resolve on market-determined price impact rather than a vote count.
The Cayman Islands segregated portfolio that serves as the legal wrapper can be wound up in accordance with its constitutional documents as directed by DAO governance. Winding up the wrapper does not by itself dissolve the DAO, and the two steps are separate.
On a wind-down, specimen SPVs and their underlying ownership rights are unaffected and remain with their respective SPV token holders; only the operating entity is dissolved. The "Jurassic Finance" name, logo, visual identity system and associated trademarks are owned by the founding team and licensed to the DAO, so on dissolution those assets remain with the team rather than passing to tokenholders. Codebases and repositories controlled by the DAO are open source.
Primary Foundation
For the Primary Foundation do the following independently. If a Foundation does not exist, state so for each sub question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary Foundation can be explained as the entity which is directly involved in the issuance of the native token at launch.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over DevCo — Explain whether the foundation can exert direct or indirect influence over decision-making of the DevCo.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities, and the method/threshold for each (e.g., veto/majority/super-majority).
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly.
(a) Entity
No Foundation entity exists as defined. Jurassic Finance has no foundation, and no foundation was involved in the issuance of $RAWR — the token was issued at launch by the MetaDAO Accelerated launch program on Solana rather than by a legal entity.
For completeness, the project's legal wrapper is Futarchy Governance SPC, a Cayman Islands segregated portfolio company formed via MetaLeX, acting in respect of Jurassic Finance SP. The segregated portfolio has no separate legal personality; the SPC is the contracting entity. It is not a foundation, it did not issue the token, and holders of $RAWR have no shareholding, membership or other legal interest in it and are owed no fiduciary duties by it.
(b) IP ownership & control
Not applicable: no Foundation entity exists, so no Foundation owns or controls any intellectual property. IP ownership is set out under DAO Structure: the DAO controls the codebases and repositories, which are open source and administered by the team on the DAO's behalf, while the "Jurassic Finance" name, logo, visual identity system and associated trademarks are owned by the founding team and licensed to the DAO for the duration of its operations.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
Not applicable: no Foundation entity exists, so no Foundation holds any power over DAO governance, treasury actions, protocol-controlled resources, token administration or reward parameters. All such powers sit with futarchy governance and are described under DAO Structure.
(d) Powers over DevCo
Not applicable: neither a Foundation nor a DevCo exists. There is no separate development company; the DAO treasury funds development directly through futarchy-approved proposals, so there is no foundation-to-DevCo influence to disclose.
(e) Contract/admin powers
Not applicable: no Foundation entity exists, so no Foundation holds pause, upgrade or governance-executor authority. The onchain authorities that do exist are held by futarchy governance, by program-derived addresses, or by the keys disclosed under DAO Structure, and no Foundation is party to any of them.
(f) Current economic arrangements and distribution policies
Not applicable: no Foundation entity exists, so no mechanism directs protocol-controlled resources, treasury assets, fees, revenue, rewards or token distributions to a Foundation, its equityholders or its contributors. No such mechanism currently exists.
Compensation to project contributors is paid from the DAO treasury as approved by futarchy governance, subject to the standing monthly spending limit, and is not routed through any foundation or intermediary entity.
Primary DevCo
For the Primary DevCo do the following independently. If an entity does not exist, state that explicitly across each sub-question. Items (a)–(f) apply only if that entity exists; state explicitly that the entity doesn't exist. Definition: The primary DevCo can be explained as the entity which is directly involved in the issuance of the native token at launch.
- (a) Entity — Type and jurisdiction.
- (b) IP ownership & control — What IP the entity owns/controls (repos/code, trademarks/brand; license optional)
- (c) Powers over DAO, treasury, protocol-controlled resources, and token administration — If any, describe the current powers over DAO governance, treasury actions, protocol-controlled resources (e.g. revenue), token administration, or reward parameters, and the method/threshold for each.
- (d) Powers over Foundation — Explain whether the DevCo can exert direct or indirect influence over decision-making of the Foundation.
- (e) Contract/admin powers — Pause/upgrade/governance-executor authorities and the method/threshold for each (e.g., veto/majority/super-majority; "3/5 multisig").
- (f) Current economic arrangements and distribution policies — Describe any current governance-approved, contractual, or programmatic mechanisms, if any, by which protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions may be directed to this entity, its equityholders, contributors, or other participants. If no such mechanism currently exists, state that explicitly. Do not discuss hypothetical future dividends, repurchases, or distributions unless formally adopted.
(a) Entity
No DevCo exists. There is no separate development company, and no entity is contracted to develop or maintain the protocol. "Jurassic Finance Labs" is the operating name of the project, not a registered legal entity.
The only legal entity connected to the project is Futarchy Governance SPC, a Cayman Islands segregated portfolio company formed via MetaLeX, acting in respect of Jurassic Finance SP. That entity is the DAO's legal wrapper, not a development company, and it was not involved in the issuance of the token — $RAWR was issued at launch by the MetaDAO Accelerated launch program on Solana.
Development is funded directly from the treasury through futarchy-approved proposals, and contributors work on an independent contractor basis to the DAO rather than through an intermediary company.
(b) IP ownership & control
Not applicable: no DevCo exists, so no DevCo owns or controls any intellectual property. IP ownership is set out under DAO Structure: the DAO controls the codebases and repositories, which are open source and administered by the team on the DAO's behalf, while the "Jurassic Finance" name, logo, visual identity system and associated trademarks are owned by the founding team and licensed to the DAO for the duration of its operations.
(c) Powers over DAO, treasury, protocol-controlled resources, and token administration
Not applicable: no DevCo exists, so no DevCo holds any power over DAO governance, treasury actions, protocol-controlled resources, token administration or reward parameters. All such powers sit with futarchy governance and are described under DAO Structure.
(d) Powers over Foundation
Not applicable: neither a DevCo nor a Foundation exists, so there is no DevCo-to-Foundation relationship or influence to disclose.
(e) Contract/admin powers
Not applicable: no DevCo exists, so no DevCo holds pause, upgrade or governance-executor authority, and no multisig or threshold arrangement is held by any development company. The onchain authorities that do exist are held by futarchy governance, by program-derived addresses, or by the keys disclosed under DAO Structure, and no DevCo is party to any of them.
(f) Current economic arrangements and distribution policies
Not applicable: no DevCo exists, so no mechanism directs protocol-controlled resources, treasury assets, fees, revenue, rewards or token distributions to a DevCo, its equityholders or its contributors. No such mechanism currently exists.
Compensation to project contributors is paid from the treasury as approved by futarchy governance, subject to the standing monthly spending limit, and is not routed through any development company or intermediary entity.
Token Supply & Allocations
Initial Allocation
Ticker | Date | Allocation Category Name | Recipient Type | Allocation % | Allocation Tokens | TGE Unlock % | TGE Unlock Tokens | Cliff Months | Cliff Unlock % | Linear Vesting Months | Cadence Months | Circulating Treatment | Notes on what each category is used for | If applicable: Contract / Wallet address |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAWR | 2026-05-15 | ICO Participants | Public / Sale | 0.3875968992248060 | 10000000 | 1 | 10000000 | 0 | 0 | 0 | 0 | No | Permissionless MetaDAO Accelerated ICO; distributed pro-rata by contribution, fully unlocked and freely transferable at distribution, no vesting. Source: https://www.futard.io/launch/F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG | holding |
RAWR | 2026-05-15 | Performance Package | Insiders | 0.5 | 12900000 | 0 | 0 | 18 | 0 | 0 | 0 | Conditional | UNDISCLOSED TIME SCHEDULE - unlocks are price-milestone gated, not time-based, so no time-based unlock can be modelled here. Minimum 18-month cliff, then five 20% tranches released only on sustained price milestones of 2x/4x/8x/16x/32x the ICO price, each measured over a 3-month TWAP window that may be initiated any time after the cliff. Cliff Unlock % entered as 0 because no tokens release on time alone. Locked tokens carry no governance or economic rights. Source: https://www.futard.io/launch/F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG | 6Dw1xBGXChPeS69hovvYMF2nmRxgdoA711TKuuAbN5rV |
RAWR | 2026-05-15 | Futarchy AMM Liquidity | Liquidity | 0.07751937984496120 | 2000000 | 1 | 2000000 | 0 | 0 | 0 | 0 | Conditional | Protocol-owned liquidity paired with 20% of ICO proceeds in the MetaDAO futarchy AMM pool at launch. Deployed rather than vested; enters circulating supply only as acquired by the market, so treated as Conditional. Source: https://www.futard.io/launch/F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG | |
RAWR | 2026-05-15 | Meteora Single-Sided Liquidity | Liquidity | 0.03488372093023260 | 900000 | 1 | 900000 | 0 | 0 | 0 | 0 | Conditional | Protocol-owned liquidity placed in a single-sided Meteora pool at launch. Deployed rather than vested; enters circulating supply only as acquired by the market, so treated as Conditional. Source: https://www.futard.io/launch/F5A6BchpqGbbBABtgRycJZGkqy2i5AgVJP1VKW5AGotG |
Airdrop Process
State the project's airdrop status plainly, and back it up:
- Never conducted and none planned for TGE: state so plainly.
- Planned but not yet executed: state the target user segments (e.g., "stakers of X," "Aave users") and the allocation method (e.g., proportional to balance or net position), and commit to publishing a recipient wallet list in a public channel and providing it to Blockworks quarterly until the initial TGE airdrop is fully completed.
- Already executed: state the covered user segments and the allocation method, and point to a per-address source such as CSV/TSV/JSON files, a Dune table, a full Merkle dump, GitHub repo files embedding per-address allocations, or RPC endpoints that expose claim/amount data; explorer links alone do not count.
Never conducted and none planned for TGE.
Transactions & Market Structures
Market Maker Agreements & Deals
Projects must disclose all material terms of market-making arrangements that affect token liquidity. If the project has no agreements or deals with market makers, state that explicitly. For each market maker, include in a table:
- (a) Market maker's name — the market maker's name;
- (b) Token allocation or loaned amount — the token allocation or loaned amount as a percentage of total supply;
- (c) Duration/term of agreement — the duration/term of the agreement; and, where applicable,
- (d) Name of agreement structure — label the financial vehicle being used in the agreement (i.e. loan, option/call, retainer model).
If no native tokens were loaned or allocated to market makers, state that explicitly; cash/fiat retainers or fees are not required for (b).
Market Maker Name | Token Allocation Committed | Term Duration | Structure Name |
|---|---|---|---|
The project has no agreements or deals with market makers. |
Exchange Agreements & Deals
Projects must disclose all material terms of centralized or decentralized exchange listings that affect token liquidity. For each listing, include in a table:
- (a) Exchange name / DEX pool — the exchange name (and, for DEX, the specific pool/pair);
- (b) Token allocation for listing — the token allocation supplied or committed for listing as a percentage of total supply;
- (c) Term Duration — the duration/term of any listing lockups, liquidity, or incentive programs; and, where applicable,
- (d) Native-token listing fees — whether any listing fees were paid in native tokens, with amounts (tokens or % of supply), recipients, and any vesting or lock terms tied to the partnership.
If the project has no agreements or deals with CEX or DEX, state that explicitly; doing so earns full credit; cash/fiat fee amounts are not required for this item.
Exchange Name | Token Allocation Committed | Term Duration | Native Token Listing Fees |
|---|---|---|---|
Futarchy AMM (MetaDAO) | 2,000,000 tokens (7.75% of total supply), paired with 20% of ICO proceeds in USDC | No fixed term. Deployed at launch as protocol-owned liquidity; withdrawal or redeployment would require a passed futarchy proposal. No lockup or incentive program. | None. No listing fee was paid in tokens or otherwise. This is a permissionless AMM pool seeded by the treasury under MetaDAO's standard launch mechanics, not a negotiated listing; there is no counterparty and no agreement. |
Meteora — $RAWR single-sided pool | 900,000 tokens (3.49% of total supply) | No fixed term. Deployed at launch as protocol-owned liquidity; withdrawal or redeployment would require a passed futarchy proposal. No lockup or incentive program. | None. No listing fee was paid in tokens or otherwise. Meteora is a permissionless AMM; the pool was created by the treasury without any agreement with, or approval from, Meteora. |
No other listings | 0 | N/A | None. The project has no agreements or deals with any centralized exchange and no negotiated listing arrangements with any decentralized exchange. $RAWR is not listed on any CEX. The two DEX pools above are protocol-owned liquidity positions on permissionless AMMs, entered without a counterparty, and total 2,900,000 tokens (11.24% of supply). All liquidity is protocol-supplied; there is no market maker and no third party with any obligation to maintain a market. |
Financial Disclosures & Risks
Prior Token Sales & Fundraising
Disclose all prior token sales by the Project — including fundraising rounds, any material OTC sales to investors, and any discounted market-maker sales. For each sale, provide:
- (a) Series Name;
- (b) Early-Stage Investment Instrument used (i.e. SAFT, STAMP, SAFE, SAFE+Token Warrant, etc.);
- (c) Date of sale (at least month & year);
- (d) Number of tokens sold (or % of total supply);
- (e) Vesting schedule.
If no prior sales occurred, state that explicitly (e.g., "No prior fundraising, OTC, or discounted MM sales have occurred.").
Series Name | Investment Instrument | Date Of Sale | Number of tokens sold | Vesting Schedule |
|---|---|---|---|---|
ICO | Token | 15th May 2026 | 10,000,000, 38.76% of total supply | None |
Previous Exploits Affecting The Native Token
If any, list prior exploits or incidents that directly affected the token, token supply, tokenholder balances, token contract, minting controls, burn mechanics, or custody of token supply. This question is not asking about general protocol, application, or smart contract exploits unless the incident directly affected the native token itself. If no prior incidents, state this explicitly (e.g., "No exploits affecting tokenholders or protocol funds as of YYYY-MM-DD").
- (a) Date & component affected — Date (YYYY-MM or YYYY-MM-DD), chain(s)/component affected.
- (b) Exploit vector summary — Plain-language summary of the exploit vector (what the hack was).
- (c) Quantified impact — Quantified impact (assets/tokens affected or a clear "no loss of funds" statement).
- (d) Remediation/response taken — Remediation/response taken (patches, upgrades, governance actions, compensation).
- (e) Current status — Current status (resolved, in litigation, under investigation, refunded, etc.).
- (f) References — Link(s) to post-mortem/advisory/PR.
(a) Date & component affected
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
(b) Exploit vector summary
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
(c) Quantified impact
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
(d) Remediation/response taken
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
(e) Current status
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
(f) References
No exploits affecting tokenholders or protocol funds as of 2026-08-10.
Material Risk Factors (Regulation, Technology, Token Economics)
Describe material risk factors across the three categories below. Each category includes prompts to address at a minimum.
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(a) Regulatory, Legal & Tax Risks — Describe how evolving laws and regulations could affect the project by answering, at a minimum, questions like:
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Impact of Regulatory Change on TGE and Listings: (If applicable) How could evolving or conflicting laws and regulations affect your ability to complete the TGE, deliver tokens to purchasers, and list or maintain the token on trading venues in key jurisdictions?
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Entity-Level Regulatory Impact: (If applicable) How could regulatory or legal changes impact your core entities (Foundation, DevCo, DAO, affiliated service providers), including enforcement actions, licensing requirements, or forced changes to structure or operations?
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Tokenholder Tax Treatment: (If applicable) What uncertainties exist around how tokenholders may be taxed, and make clear that tokenholders are responsible for understanding their own tax obligations?
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Jurisdictional & User Access Restrictions: (If applicable) If the project restricts access for certain jurisdictions or user types (e.g., U.S. persons, sanctioned countries, retail vs. professional), what are those restrictions and what risks do they create for users and for the project?
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(b) Protocol, Technology & Security Risks — Describe risks to network and contract reliability, correctness, and safety by answering, at a minimum, questions like:
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Bugs and Design Flaws: (If applicable) What bugs, design flaws, or implementation errors could exist in your core protocol code, smart contracts, and any bridges, rollups, or oracles that you depend on, and how could these lead to loss of funds or disruption of the protocol?
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Security Measures & Their Limitations: (If applicable) What security measures have you taken (audits, formal verification, bug bounties), and what types of failures might these measures still fail to detect or prevent?
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(c) Token Economics, Unlocks & Incentive Risks — Describe how the token's economic design and supply schedule could affect holders by answering, at a minimum, questions like:
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Critical Economic Assumptions: (If applicable) Which economic assumptions (e.g., staking yields, fee revenue, liquidity incentives, MEV capture, demand for blockspace) are critical for protocol security, utility, and governance, and what happens if those assumptions fail?
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Governance Control over Monetary Policy & Rewards: (If applicable) To what extent can governance change monetary policy, fee parameters, or reward allocations (e.g., inflation rate, treasury flows, incentive programs), and how could such changes adversely affect tokenholders?
(a) Regulatory, Legal & Tax Risks
The TGE is complete and tokens have been delivered, so completion risk no longer applies. Ongoing risk is that evolving digital-asset regulation could restrict transferability, secondary trading, or the ability of venues to support the token. $RAWR trades only on Solana DEXs; there are no exchange listing agreements, so there is no listing to lose, but equally no venue with an obligation to maintain a market.
Entity-level risk. The project's only legal entity is Futarchy Governance SPC, a Cayman Islands segregated portfolio company acting in respect of Jurassic Finance SP. There is no foundation and no development company. Regulatory or legal change affecting Cayman segregated portfolio structures, the MetaLeX/BORG model, or DAO-adjacent entities generally could force changes to the structure or its operations. A segregated portfolio has no separate legal personality, so the SPC is the contracting entity and portfolio-level ring-fencing depends on Cayman statute being respected by a court in the relevant jurisdiction, which cannot be guaranteed in every forum.
Real-world asset and specimen risk. The model depends on Cayman SPVs holding legal title to physical fossil specimens and on custody and display arrangements with museum partners. Fossil ownership, export, and cultural-heritage law varies by jurisdiction and can change; a specimen's title, provenance, or export permissions could be challenged after acquisition. Enforcement of contractual co-ownership rights across jurisdictions is untested.
Securities characterisation. The tokens are not offered as securities, equity, or an ownership interest in any entity, and participation was not intended as a securities offering. There is nonetheless a risk that a regulator or court in some jurisdiction characterises $RAWR or a specimen SPV token differently, which could result in enforcement action, forced structural change, or restrictions on holders.
Jurisdictional restrictions. Specimen SPV participation is not available to U.S. persons. Participants are responsible for determining whether participation is lawful where they are, and restrictions may broaden as regulation develops.
Tax. Tax treatment of token acquisition, disposal, unlock events, and any future distribution is uncertain and varies by jurisdiction. No tax advice is given, no withholding is performed, and tokenholders are solely responsible for understanding and meeting their own tax obligations.
(b) Protocol, Technology & Security Risks
The project depends on the Solana network, the SPL token program, the MetaDAO futarchy protocol, and third-party AMMs (Meteora and the futarchy AMM). A failure, halt, exploit, or breaking change in any of these could disrupt governance, trading, or access to funds. The project does not control these dependencies.
Bugs and design flaws. Smart contract code can contain bugs, design flaws, or implementation errors that result in loss of funds, incorrect accounting, stuck assets, or governance manipulation. This applies to the futarchy governance programs, the token accounts, the liquidity pools, and the raise mechanism used for specimen SPVs.
Governance-specific risk. Futarchy decides proposals on market prices rather than votes. Thin or illiquid conditional markets can be manipulated, and an attacker with sufficient capital could in principle influence a proposal outcome by distorting those markets. Market-based governance is a relatively novel mechanism with limited adversarial track record at scale.
Key and authority risk. Two keypair accounts can disburse from the treasury up to the standing monthly spending limit without a governance proposal. Compromise or loss of those keys would put those funds at risk. The $RAWR mint authority remains live and is held by a program-derived address; a flaw in the controlling program could in principle permit issuance beyond current supply. Freeze authority is revoked.
Security measures and their limits. Audits, where performed, reduce but do not eliminate risk: they are point-in-time, scoped to specific code, and cannot detect every logic error, economic attack, or failure arising from interaction with external protocols. No audit or review should be treated as a guarantee of safety.
Off-chain failure. Physical specimens are exposed to fire, theft, damage, transit loss, and failure of custody or insurance arrangements — risks that no onchain measure mitigates. The team holds a narrow emergency authority to act unilaterally in such events, which itself carries the risk of action later judged incorrect by governance.
(c) Token Economics, Unlocks & Incentive Risks
There is no staking yield, no emissions, no MEV capture, and no protocol fee accruing to holders. The treasury is funded by origination economics from specimen SPVs — a 10% USDC fee and 5% of each SPV's token supply. Revenue therefore depends on originating further specimens. Origination is lumpy and low-frequency, and a period without a new specimen raise generates no new origination revenue. If the pipeline of authenticated, acquirable specimens does not materialise, or if raises do not fill, the treasury does not grow and the economic case weakens.
Supply is not fixed. Mint authority remains live and is held by a program-derived address exercisable through governance. Current supply is approximately 25,799,688 tokens, but this is not a hard cap. Governance could authorise further issuance, which would dilute existing holders. Any project material describing the supply as fixed should be read against this disclosure.
Unlock overhang. 12,900,000 tokens, 50% of supply, are allocated to the team performance premine. These unlock in five 20% tranches on sustained price milestones of 2x, 4x, 8x, 16x and 32x the ICO price, measured over 3-month TWAP windows after a minimum 18-month cliff. Because the milestones are price-based rather than operational, unlocks arrive precisely when the price has appreciated, and each tranche introduces significant potential sell pressure at exactly those moments. Holders should assume this overhang is a persistent feature of the supply schedule.
Liquidity concentration. Protocol-owned liquidity comprises 2,900,000 tokens across the futarchy AMM and a single-sided Meteora pool. There are no market maker agreements and no exchange listings. Liquidity is therefore thin and largely protocol-supplied; exit at scale may not be possible without significant price impact, and this also increases susceptibility to governance-market manipulation.
Governance control over monetary policy. Governance can direct treasury assets, authorise issuance through the live mint authority, and adopt or change any future distribution, buyback, or lending mechanism. No such mechanism is presently operative. Because futarchy participation is permissionless and USDC-denominated rather than gated by $RAWR holdings, holders do not have a vote in the conventional sense and cannot block a proposal that the decision market prices favourably.
Concentration. The ICO distributed 10,000,000 tokens to 906 participants, with the largest single participant holding approximately 3.3% of supply and the top twenty collectively holding a substantial share. Concentrated holdings can amplify price moves and influence governance markets.
No value guarantee. $RAWR carries no claim on any individual specimen. Specimen ownership sits at the SPV level with SPV token holders. Contributions are final and non-refundable, and no return, distribution, or performance of any kind is promised.
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Jurassic Finance is solely responsible for the content, accuracy, and legality of its disclosures.