Ordr is a fully on-chain order book exchange on Solana. The project is designed to replace closed, operator-controlled proprietary AMMs with an open order book where any market maker can participate. Ordr gives market makers their own private accounts, cheap repricing, and protection from toxic arbitrage, with the intended result of tighter spreads and better prices for everyone.

Labs / DevCo

Foundation

DAO / Onchain Governance

(a) IP ownership & control

The DAO, through a Cayman Islands SPC (Segregated Portfolio Company) formed via MetaLeX, owns and controls all intellectual property of the Ordr protocol. This comprises: (1) the Ordr codebases maintained under the Chaos Labs GitHub organization (github.com/CHA0S-LABS), including the on-chain order book program (ordr), the market-maker SDK (ordr-market-maker), the backend/indexer (ordr-backend), ordr-seeker, and the website (ordr-landing); and (2) the "Ordr" / "ordr.trade" brand, logo, and the ordrtrade.com and ordr.trade domain, which are unregistered brand assets. The core protocol repositories are private and proprietary; no open-source license has been granted, and all rights are reserved by the SPC. The only public repository (the website landing page) likewise carries no license. The SPC is governed by the DAO.

(b) Contract/admin powers

All powers over DAO governance, treasury actions, protocol-controlled resources, token administration, and reward parameters are governed by the MetaDAO futarchy framework. Governance is fully on-chain and permissionless through the MetaDAO futarchy protocol on Solana, where token holders make decisions by trading conditional outcome tokens on proposal markets; proposals pass or fail by majority of market-determined price impact. No centralized entity has unilateral authority over these functions. During the initial launch phase, the founding team retains program upgrade authority over the deployed Solana programs for security and operational purposes. This upgrade authority is held by Squads 3/4 multisig controlled by the founding team; it is intended to be transferred to the DAO as the protocol matures. There are no pause authorities. No governance-executor, veto, or super-majority mechanisms exist outside the MetaDAO futarchy framework.

(c) Locked-token rights (conditional)

No locking or staking mechanism exists that grants additional rights to tokenholders. The only locked tokens are the team's Performance Package (12,900,000 ORDR, 50% of supply), which remains under its 18-month cliff until January 31, 2028 and thereafter unlocks only on sustained price-performance milestones (2x/4x/8x/16x/32x of the $0.015 ICO price, each confirmed over a 3-month TWAP). This lock is an economic vesting restriction only: locked tokens carry no additional governance or decision-making rights beyond those of unlocked tokens, and cannot vote or participate in governance until unlocked. There is no staking, vote-escrow, or lock-for-boost mechanism; all governance participation occurs through the MetaDAO futarchy framework using unlocked $ORDR.

(d) Current tokenholder governance rights and economic arrangements

$ORDR is the governance token of the Ordr protocol, used for decision-making through a futarchy-based DAO powered by MetaDAO. Governance is fully on-chain and permissionless on Solana: tokenholders participate by trading conditional outcome tokens on proposal markets, and all protocol decisions including parameter changes, treasury allocation, revenue distribution, token administration, and reward parameters are determined by futarchy markets, with no centralized entity holding unilateral authority. Taker fees flow to the protocol treasury, which is governed by the same framework. Governance can authorize new token issuance; mint authority sits with the DAO treasury, and a passing proposal could authorize issuance of additional tokens. Tokenholders have no direct present economic claim or entitlement to treasury assets, protocol fees, rewards, or distributions their rights over these resources are governance rights only, exercised through futarchy proposals. No buyback programs, rights, or arrangements are presently operative or approved, and no fee-routing to tokenholders, dividend, or reward distribution mechanism currently exists; any such arrangement would require a passing futarchy proposal to be adopted.

(e) Control surface reliance

The protocol’s governance and control model is fully managed through the MetaDAO futarchy framework, under which protocol decisions, including parameter changes and treasury allocation, are determined by futarchy-based prediction markets where $ORDR holders participate. There are no plans to transition away from the MetaDAO futarchy model. During the initial launch phase, the founding team holds program upgrade authority for security purposes, and that authority is expected to be transferred to the DAO as the protocol matures.

(f) Dissolution authority

Dissolution of the DAO would require an on-chain futarchy governance proposal passed by the market. The Cayman SPC legal wrapper can be wound up under its constitutional documents as directed by DAO governance.

(a) Entity

No primary Foundation entity exists; accordingly, there is no Foundation entity type or jurisdiction to disclose.

(b) IP ownership & control

No Foundation entity exists. The project’s intellectual property, including codebases/repos and associated trademarks/brands, is held by a Cayman Islands SPC formed via MetaLeX, and that SPC is governed by the DAO.

(c) Powers over DAO, treasury, protocol-controlled resources, and token administration

No Foundation entity exists. Accordingly, there are no Foundation powers over DAO governance, treasury actions, protocol-controlled resources, token administration, or reward parameters. All powers over DAO governance, treasury actions, protocol-controlled resources, token administration, and reward parameters are governed by the MetaDAO futarchy framework, and no centralized entity has unilateral authority over these functions.

(d) Powers over DevCo

No foundation entity exists, and there is no separate DevCo entity. No foundation or external entity exerts direct or indirect influence over development decision-making.

(e) Contract/admin powers

No Primary Foundation exists. Accordingly, there are no Foundation pause, upgrade, or governance-executor authorities or related methods or thresholds to disclose.

(f) Current economic arrangements and distribution policies

No primary Foundation entity exists. No governance-approved, contractual, or programmatic mechanisms currently direct protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions to any foundation entity, its equityholders, contributors, or other participants.

(a) Entity

No separate Primary DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity; accordingly, there is no DevCo entity type or jurisdiction to disclose.

(b) IP ownership & control

No separate DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity. The project’s intellectual property, including codebases/repos and associated trademarks/brands, is held by a Cayman Islands SPC governed by the DAO.

(c) Powers over DAO, treasury, protocol-controlled resources, and token administration

No separate Primary DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity. Accordingly, there are no current DevCo powers over DAO governance, treasury actions, protocol-controlled resources, token administration, or reward parameters, and no DevCo-specific method or threshold applies. All powers over governance, treasury, and protocol-controlled resources are governed by the MetaDAO futarchy framework, and no centralized entity has unilateral authority over these functions. No governance-approved, contractual, or programmatic mechanisms currently direct protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions to any DevCo entity.

(d) Powers over Foundation

No separate DevCo entity exists. No foundation entity exists; therefore, there is no DevCo influence over Foundation decision-making to disclose.

(e) Contract/admin powers

No separate Primary DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity. During the initial launch phase, the founding team retains program upgrade authority over the deployed Solana programs for security and operational purposes. There are no pause authorities, and no governance-executor, veto, or super-majority mechanisms exist outside of the MetaDAO futarchy framework. Program upgrade authority will be transferred to the DAO as the protocol matures.

(f) Current economic arrangements and distribution policies

No separate DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity. No governance-approved, contractual, or programmatic mechanisms currently direct protocol-controlled resources, treasury assets, fees, revenue, rewards, or token distributions to any DevCo entity.

(a) Identity & role

The project's sole Affiliated Protocol Contributor is MetaDAO LLC, a limited liability company organized as a decentralized autonomous organization (a DAO LLC) under the laws of the Republic of the Marshall Islands, as stated in MetaDAO's Terms of Service (metadao.fi/terms). Its role is governance and launch infrastructure: MetaDAO operates the futarchy protocol on Solana through which the Ordr DAO makes all governance decisions, and it ran the ICO fundraise through which $ORDR was issued. $ORDR is used for decision-making through a futarchy-based DAO powered by MetaDAO, and protocol decisions, including parameter changes and treasury allocation, are determined by futarchy-based decision markets where $ORDR holders participate. MetaDAO does not perform core development, security, market making, or operations for the Ordr protocol; those functions sit with the founding team.

(b) Parameter control & scope

MetaDAO LLC is an Affiliated Protocol Contributor for this filing. It provides the governance and launch infrastructure the Ordr DAO runs on: the futarchy decision-market programs, the ICO launchpad through which $ORDR was issued, the DAO treasury contracts, and the price-based Performance Package vesting program that holds the team allocation. MetaDAO does not control any Ordr protocol parameter in the ordinary course: trading parameters, fees, treasury spending, token issuance, and reward parameters are decided by $ORDR holders through futarchy decision markets, and upgrade authority over the Ordr trading programs sits with the Ordr founding team, not MetaDAO. The specific authorities MetaDAO holds, with the method and threshold for each, are as follows. (1) Program upgrades: upgrade authority over the MetaDAO governance programs the Ordr DAO relies on (futarchy FUTARELBfJfQ8RDGhg1wdhddq1odMAJUePHFuBYfUxKq, conditional vault VLTX1ishMBbcX3rdBWGssxawAo1Q2X2qxYFYqiGodVg, launchpad moonDJUoHteKkGATejA5bdJVwJ6V6Dg74gyqyJTx73n, price-based Performance Package pbPPQH7jyKoSLu8QYs3rSY3YkDRXEBojKbTgnUg7NDS, and mint governor gvnr27cVeyW3AVf3acL7VCJ5WjGAphytnsgcK1feHyH) is held by 6awyHMshBGVjJ3ozdSJdyyDE1CTAXUwrpNMaRGMsb4sf, the vault of Squads v4 multisig 8N3Tvc6B1wEVKVC6iD4s6eyaCNqX2ovj2xze2q3Q9DWH, requiring approval of 3 of 13 members with no timelock (verified on-chain as of 2026-10-16). (2) Emergency override of decision markets: the futarchy program contains explicit admin instructions whose scope and authority are published in MetaDAO's open-source program code (github.com/metaDAOproject/programs). The actions it can affect are: cancelling a live proposal and unwinding its
conditional markets (admin_cancel_proposal), removing a draft proposal (admin_remove_proposal), and enqueueing or executing approval and execution of the DAO's Squads treasury transactions that implement passed proposals (admin_enqueue_multisig_proposal_approval, admin_execute_multisig_proposal). The method of authority is single-signature for cancel, remove, and execute, gated to the hardcoded MetaDAO-controlled admin key CWGawadYU8CzRVBecnJymNw97H7E3ndDinV5sMzesgY2, and 3-of-13 multisig approval for enqueueing treasury transaction approvals, gated to the same Squads vault identified above. These admin instructions cannot mint $ORDR, cannot change Ordr trading parameters, and cannot originate arbitrary treasury transfers; treasury execution paths validate that the transaction belongs to the Ordr DAO's own Squads multisig. MetaDAO states the emergency override is intended only for extreme circumstances such as an exploit, oracle failure, or market manipulation, has never been used, and is expected to be removed as the system matures. Beyond items (1) and (2), MetaDAO controls no Ordr protocol parameters or actions.

(c) Contract/admin powers

Per-APC statement for MetaDAO LLC. (1) Pause powers: none. MetaDAO holds no pause authority over the Ordr protocol or its governance. (2) Upgrade powers: upgrade authority over the MetaDAO governance programs the Ordr DAO relies on (futarchy FUTARELBfJfQ8RDGhg1wdhddq1odMAJUePHFuBYfUxKq, conditional vault VLTX1ishMBbcX3rdBWGssxawAo1Q2X2qxYFYqiGodVg, launchpad moonDJUoHteKkGATejA5bdJVwJ6V6Dg74gyqyJTx73n, price-based Performance Package pbPPQH7jyKoSLu8QYs3rSY3YkDRXEBojKbTgnUg7NDS, and mint governor gvnr27cVeyW3AVf3acL7VCJ5WjGAphytnsgcK1feHyH) is held on-chain by 6awyHMshBGVjJ3ozdSJdyyDE1CTAXUwrpNMaRGMsb4sf, the vault of Squads v4 multisig 8N3Tvc6B1wEVKVC6iD4s6eyaCNqX2ovj2xze2q3Q9DWH. Executing an upgrade requires approval from 3 of the multisig's 13 members, with no timelock. This is verifiable on-chain and was verified as of 2026-10-16. MetaDAO holds no upgrade authority over the Ordr trading programs, which remain with the Ordr founding team as disclosed in Section 3. (3) Governance-executor and override authorities: during the system's beta stage, the MetaDAO team retains an emergency override of decision markets. Cancel, remove, and execute run on the single MetaDAO admin key CWGawadYU8CzRVBecnJymNw97H7E3ndDinV5sMzesgY2; enqueueing treasury approvals requires 3 of 13 members of the Squads multisig identified above. Stated limitations: it is intended only for extreme circumstances that threaten the correct or safe operation of the governance system, such as an exploit, oracle failure, or market manipulation; MetaDAO states it has never been used and is expected to be removed as the system matures, though no fixed removal date has been announced. (4) Method of authority otherwise: outside futarchy, MetaDAO's admin key can cancel any live proposal, which operates as a single-key veto. Within the futarchy framework, proposals pass or fail solely on market-determined price impact.

(d) Compensation and material economic arrangements

MetaDAO LLC is the sole Affiliated Protocol Contributor. The economic arrangements between the Ordr DAO and MetaDAO LLC are as follows. (1) Fees on the raise: none. MetaDAO took no cash fee and no percentage of the $150,000 ICO proceeds. The full proceeds were allocated 80% ($120,000) to the DAO treasury and 20% ($30,000) paired with 2,000,000 $ORDR as protocol-owned liquidity in the Futarchy AMM pool; the oversubscribed commitments above the $150,000 cap ($9,136,571 of the $9,286,571 committed) were refunded to backers pro-rata by the launchpad mechanism. (2) Token allocation: none. The entire 25,800,000 $ORDR supply is accounted for by the ICO float (10,000,000; 38.8%), Futarchy AMM protocol-owned liquidity (2,000,000; 7.8%), Meteora LP protocol-owned liquidity (900,000; 3.5%), and the team Performance Package (12,900,000; 50%). No $ORDR has been allocated, loaned, or optioned to MetaDAO LLC. (3) Share of futarchy AMM trading fees: this is the economic arrangement that does exist. Under MetaDAO's standard launchpad terms in effect at the time of the raise (revised 2025-12-28, before Ordr's 2026-07-31 close), the Futarchy AMM charges a 0.5% fee on trading volume, and the full 0.5% accrues to the MetaDAO treasury rather than being split with the launched project. This fee applies to volume in the ORDR Futarchy AMM pool that holds the DAO's protocol-owned liquidity and to trading in the conditional-market (proposal) pools run on MetaDAO's futarchy infrastructure. The underlying liquidity positions (2,000,000 ORDR + $30,000 in the Futarchy AMM; 900,000 ORDR single-sided on Meteora) remain protocol-owned. The Meteora positions are controlled by the single-signature key disclosed in Q11. MetaDAO's economics are limited to the trading fee, not the principal. (4) No other arrangements: MetaDAO LLC receives no share of Ordr protocol revenue (taker fees flow to the DAO treasury governed by futarchy), holds no retainer or service fee arrangement, has no equity interest in any Ordr entity, and has no economic rights over the treasury or token administration beyond the trading-fee arrangement described here and the governance authorities already disclosed in 6b.

(a) Post-TGE employee lock as % of total supply

No post-TGE token compensation plans exist. The current total amount of tokens locked attributable to post-TGE employees is 0 ORDR, equal to 0% of total supply. The only locked insider allocation is the founding team's Performance Package of 12.9 million ORDR, equal to 50% of total supply, which was established at launch for the four pre-TGE founders and is not post-TGE employee compensation. No tokens have been granted or reserved for employees or contributors hired after TGE.

(b) Typical post-TGE vesting schedule

No post-TGE token compensation plans exist, so there is no standard post-TGE grant vesting schedule: no cliff length, no vesting frequency, and no total duration apply, because no such grants have been made or reserved. For context, the only locked insider allocation is the pre-TGE founding team's Performance Package, which has an 18-month cliff from TGE and price-based vesting in five 20% tranches at 2x, 4x, 8x, 16x, and 32x of the $0.015 ICO price measured by 3-month TWAP; it is not frequency-based and has no fixed total duration, since unlock timing depends on market price. Any future token compensation for post-TGE employees would require a passing futarchy governance proposal, and none has been proposed or adopted to date.

(a) Existence

No token-based payments or advisory commitments exist. The project has never paid tokens to any advisor, and no advisory agreements involving token compensation have been entered into or promised. All token distribution to date occurred through the permissionless ICO mechanism and the allocations disclosed in Section 6 (initial float, Performance Package, and protocol-owned liquidity). Any future token-based payment would require a passing futarchy governance proposal, and none has been proposed or adopted.

(b) Total token allocation

No token-based advisory compensation exists. There are no token-based advisors, and the aggregate token allocation across all token-based advisory services is 0 ORDR, equal to 0% of total supply. No tokens have been paid, allocated, reserved, or promised for advisory services by the DAO treasury, the Cayman Islands SPC, or any other party, and any future token-based advisory arrangement would require a passing futarchy governance proposal.

(c) Payer entity

No token-based advisory compensation exists, so there is no payer entity to identify. For completeness: no Foundation or DevCo entity exists, and neither the DAO treasury nor the Cayman Islands SPC has paid or committed tokens to any advisor.

(d) Description of advisory/services

No token-based advisory compensation exists and there are no token-based advisors, so there are no advisory services to describe. No legal, growth, business development, security, or other advisory arrangement has been compensated or promised compensation in ORDR tokens

(a) Existence & scope

No KOL engagements exist and no KOLs receive tokens for payment. The project has never engaged any key opinion leader, influencer, or marketing partner, and no tokens have been paid, allocated, reserved, or promised for KOL or marketing activities by the DAO treasury, the Cayman Islands SPC, or any other party. The B-1 filing's statement that no market maker agreements, token loans, OTC deals, or airdrops exist remains accurate. Any future token-compensated marketing engagement would require a passing futarchy governance proposal, and none has been proposed or adopted.

(b) Usernames & roles

No KOLs receive or have received token-based compensation, so there are no usernames, handles, platforms, or activities to list. No key opinion leader, influencer, or content creator on any platform has been paid, allocated, or promised ORDR tokens for marketing, promotion, or any other activity.

(c) Token allocation & vesting/locks

No KOL engagements receiving tokens for payment are disclosed in this filing.

(a) Token repurchases or secondary-market accumulations (if any)

No token repurchases or secondary-market accumulations are disclosed in this filing.

(b) Protocol-owned liquidity (POL) (if any)

Protocol-owned liquidity is deployed in two disclosed allocations: (1) the Futarchy AMM allocation, which is 7.8% of supply and 2,000,000 ORDR, paired with $30,000 of ICO proceeds at an implied $0.015 per ORDR; and (2) the Meteora LP allocation, which is 3.5% of supply and 900,000 ORDR, deployed as protocol-owned single-sided liquidity on Meteora at $0.015 per ORDR, with $13,500 notional value. The disclosed aggregate trading-liquidity token allocation is 2,900,000 ORDR, or 11.2% of supply. POL strategy is controlled through onchain governance: treasury allocation decisions and powers over protocol-controlled resources are governed by the MetaDAO futarchy framework, and no centralized entity has unilateral authority over these functions. No fixed unwind or exit policy is disclosed; changes to treasury allocation or protocol-controlled resources would be made through onchain governance proposals

(c) Liquidity deals / purchased TVL (if any)

There are no liquidity deals, market maker agreements, token loans, OTC deals, or designated market maker arrangements. Liquidity is provided through the Accelerated launch mechanism’s built-in liquidity pool, which receives 20% of funds raised. The token trades onchain on Solana DEXs. Protocol-owned liquidity includes the Futarchy AMM pool, which pairs 2,000,000 ORDR with $30,000 of the $150,000 raise, and a Meteora LP deployment of 900,000 ORDR as single-sided liquidity at $0.015/token, with $13,500 notional value.

(d) Token-secured loans/lines (incl. against unissued tokens) (if any)

No token loans are in place. Accordingly, there is no principal amount, gross position size, collateral, counterparty, or unwind/exit policy to disclose for token loans.

(a) Entity existence

No foundation entity exists. No separate Lab/DevCo entity exists. A DAO exists: $ORDR is used for decision-making through a Futarchy-based DAO powered by MetaDAO, and the SPC is governed by the DAO

(b) Material sources of funding or economic inflows

Foundation: No foundation entity exists.

Lab/DevCo: No separate DevCo entity exists. The protocol is developed by a four-person founding team operating independently without a formal corporate entity.

DAO: All ICO proceeds flow into a single on-chain treasury governed by decision markets. The ICO raised $150,000, of which $120,000 went to the treasury and $30,000 went to trading liquidity. The DAO treasury funds development directly. Taker fees flow to the protocol treasury and are governed by the MetaDAO futarchy framework. Revenue distribution and treasury allocation decisions are made via onchain governance proposals. The treasury contains $96,058 and is 100.0% cash.

(c) Operational use of resources

No foundation entity exists. No separate DevCo entity exists. The DAO treasury funds development directly. Ongoing operations are funded by the $150,000 ICO raise, with 60% allocated to operating runway—described as $15,000 per month covering four engineers, market-making operations, and infrastructure—20% allocated to a security audit, and 20% allocated to protocol-owned liquidity. Taker fees flow to the protocol treasury and are governed by the MetaDAO futarchy framework; revenue distribution and treasury allocation decisions are made through onchain governance proposals.

(d) Onchain Resource Usage

Foundation: no foundation entity exists. Labs/DevCo: no separate DevCo entity exists. DAO: the DAO treasury funds development directly; revenue distribution and treasury allocation decisions are made via onchain governance proposals, and taker fees flow to the protocol treasury governed by the MetaDAO futarchy framework. The following public resources cover the DAO's on-chain financial activity:

1. DAO Treasury on Solscan (https://solscan.io/account/6C8SUhNgaJz3UPUn7rXAxLeApWVLu3nfE7kYJs2eCX19): real-time view of the treasury vault that holds ICO proceeds and the ORDR mint authority, showing all inflows, outflows, taker fee receipts, and spending-limit draws.

2. MetaDAO project page for Ordr (https://metadao.fi/projects/ordr): governance dashboard showing all futarchy proposals, decision markets, and their outcomes, which is where treasury actions and protocol decisions are initiated and resolved.

3. Backable raise page (https://www.backable.biz/raises/HwvxqXHcRNKikH8RsqRRaV6NCpzxg1g5tHgnMfsdaaEj): permanent record of the ICO, including amount raised, backer claims, token allocations, team lock terms, and funding use including the $15,000 monthly spending limit.

4. Trading and liquidity dashboards on Dexscreener: futarchy AMM pool (https://dexscreener.com/solana/8mzxyimv29ivabhdzln3xa39jmrgteahwe3rnpkcekpa) and Meteora DLMM pool
(https://dexscreener.com/solana/3bjvehzhbytugx2ftdpxbnu7ekjqxktktngscj7ca9f7), showing the protocol-owned liquidity positions, prices, and volumes.

5. Blockworks Token Transparency filing (https://blockworks.com/token-transparency/filing/ordr-trade): the finalized B-1 disclosure covering supply, allocations, vesting, and governance, which this filing updates.

No separate token holder relations reports are published beyond these; all treasury and fee activity is natively visible on-chain through the links above.

(a) Date & component affected

No prior exploits or incidents are disclosed as of 2026-10-21; accordingly, no incident date or affected chain/component is applicable

(b) Exploit vector summary

No exploit vector is disclosed: no exploits or incidents had occurred as of 2026-10-21.

(c) Quantified impact

No exploits or incidents have occurred as of 2026-10-21; accordingly, no assets or tokens were affected by a prior token-related incident.

(d) Remediation/response taken

No remediation or response is applicable; no exploits or incidents have occurred as of 2026-10-21.

(e) Current status

No exploits or incidents have occurred as of 2026-10-21; there is no current incident status to report.

(f) References

No post-mortem, advisory, or PR references are applicable because no exploits or incidents have occurred as of 2026-10-21.