umbra raised $3m against $155m in commitments. 51x oversubscribed ico now trading at $20m fdv. solana processes $500b weekly stablecoin volume with zero privacy infrastructure. western union building remittances on solana, paypal settling onchain. they need private transactions. umbra is the only native solution and trading at 0.06% of solana's tvl ...

Fundraising & Investment - Cypherpunks are publicly raising funds for privacy protocols on Solana using futarchy, DAOs, and internet capital markets [1] - Umbra's ICO on MetaDAO was oversubscribed by more than 10425%, exceeding $78 million in committed capital [1] Technology & Platform - Solana is being used as a platform for raising capital and developing privacy protocols [1]

Project Overview - Umbra aims to bring private transactions to Solana DeFi, enabling users to send and swap tokens without exposing wallet details or amounts [1] - The project is built on Arcium's encrypted compute, preserving Solana's speed and composability while keeping data private [1] - Umbra's dual revenue model includes protocol fees and SDK monetization, aiming for sustainability [3] Funding and Tokenomics - The project raised over $8.3 million, exceeding its target of $750 thousand by 1109% [4] - The token sale allocated 10 million tokens for ICO, 5 million for liquidity (2 million paired with 20% of funds), and 13.5 million for the team and backers with performance-based unlocks [4] - Governance will be DAO-first, with all liquidity, funds, and mint authority transferring to the DAO after the sale [4] Development and Milestones - The team plans to ship core features within six months after the ICO, focusing on tangible delivery [2] - Upcoming milestones include confidential swaps and transfers, a developer SDK, and a compliance-ready design [2] - Future roadmap items include private swaps within the Umbra app, an Umbra SDK for on-chain privacy, and a Zcash–Solana bridge [2]