Umbra, a privacy-focused project on Solana, has seen its initial coin offering (ICO) oversubscribed by 1169%, surpassing its $750 million target. The ICO was conducted on MetaDAO's 'Unruggable ICO' futarchy launchpad, which employs market-based governance to guide project decisions. This platform requires founding teams to adhere to a fixed budget and place their treasury and intellectual property under a DAO LLC in the Marshall Islands, managed by MetaDAO. This structure is designed to align the interests of founders and tokenholders while preventing rug pulls. The effectiveness of this governance model was previously demonstrated when the mtnCapital fund, also launched on the platform, was dissolved by tokenholders due to underperformance. This highlights the platform's ability to empower tokenholders in decision-making processes.