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Market Chill Plus Overvaluation: MetaDAO Sees First ICO Flop Project

2026.02.09 18:21:28

February 9th — The Solana ecosystem’s launchpad MetaDAO has logged its first ICO failure, with the Hurupay project. Launched on February 3, 2026, Hurupay set a minimum fundraising target of $3 million. It ultimately raised roughly $2,003,593 — about 67% of its required minimum. After failing to meet the threshold, MetaDAO announced the ICO’s collapse and will refund all funds to participants. Community feedback points to three key factors: the project’s overvaluation, unclear team background, and significant changes to fundraising terms.
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