Ranger ICO Launches on MetaDAO, Targets $6M Raise for Trading Terminal

Ranger's initial coin offering began Jan. 6 and runs through Jan. 10. The project seeks to raise a minimum of $6 million through the sale on MetaDAO.

Ranger positions itself as a full-stack trading terminal spanning Ranger Perps, Ranger Spot and Ranger Earn. The ICO makes available 39 percent of the total RNGR token supply.

Proceeds will be held in a treasury governed by token holders. The Ranger team will receive a fixed monthly stipend of $250,000 from those funds.

The ICO is the first on MetaDAO to feature a project with existing pre-ICO investors. ICO participants who receive an allocation hold 100 percent liquid tokens at the Token Generation Event. Pre-ICO investors face a 24-month linear unlock schedule with no cliff.

The team's allocation of up to 7.6 million RNGR—30 percent of total supply—is tied directly to price performance. Those tokens unlock across five milestone tranches triggered at 2x, 4x, 8x, 16x and 32x the ICO price, each milestone requiring a sustained three-month time-weighted average price. A minimum 18-month cliff applies before any team tokens can unlock.

MetaDAO's past six ICOs were significantly oversubscribed, with allocations settled pro rata—a mechanism that left participants receiving an average of roughly 5 percent of their desired exposure. Ranger addresses this by guaranteeing point holders access through a dedicated allocation bucket. Any unclaimed point-holder allocation rolls over and is distributed pro rata to public ICO buyers.

MetaDAO generates revenue through swap fees on its Futarchy AMM and its liquidity provider position on Meteora. The Futarchy AMM charges a 0.5 percent fee on trading volume. That fee was initially split evenly between MetaDAO and the project raising capital. On Dec. 28, following mutual agreement with participating teams, the full 0.5 percent fee was retroactively adjusted to accrue entirely to MetaDAO.

Since launching Oct. 10, 2024, the Futarchy AMM has generated about $2.4 million in revenue for MetaDAO, with roughly 60 percent of that total coming directly from the AMM's fee structure.

Ranger's initial coin offering began Jan. 6 and runs through Jan. 10. The project seeks to raise a minimum of $6 million through the sale on MetaDAO.

Ranger positions itself as a full-stack trading terminal spanning Ranger Perps, Ranger Spot and Ranger Earn. The ICO makes available 39 percent of the total RNGR token supply.

Proceeds will be held in a treasury governed by token holders. The Ranger team will receive a fixed monthly stipend of $250,000 from those funds.

Since launching Oct. 10, 2024, the Futarchy AMM has generated about $2.4 million in revenue for MetaDAO, with roughly 60 percent of that total coming directly from the AMM's fee structure.