The market has cooled down and combined with high valuations, MetaDAO faces its first failed ICO project

The Solana ecosystem issuance platform MetaDAO has encountered its first failed ICO project, Hurupay. The project launched on February 3, 2026, with a minimum fundraising goal of $3 million. Ultimately, only about $2,003,593 was raised (approximately 67% of the minimum target). Due to not reaching the stipulated minimum financing threshold, MetaDAO announced the failure of this ICO, and all participant funds will be refunded.

Community feedback indicates that the project's overvaluation, unclear team background, and significant changes to the financing terms were factors contributing to the failure of this ICO.