Ranger Finance is winding down and I will be moving on. People who worked with us, built with us, and trusted us are not being made whole, and I want to be direct about what happened. Ranger took on more than it could sustain. As cash ran low, the founders put in as much personal capital that could be beared to keep the lights on while we worked toward a raise on MetaDAO. The raise was delayed, bills accumulated, and some of the team stayed on knowing they wouldn't be paid until capital came in. When the raise closed, we had two months of runway before the funds were returned. We used that window to pay people and vendors as equitably as we could, but it wasn't enough to cover everything. The liquidation of treasury was unanticipated and deeply impacted the budgeting decisions made for employees, vendors and growth. Then the Drift exploit hit hard, and it took out remaining momentum and personal capital to keep things moving. In hindsight, Ranger should have shut the doors earlier. When you're inside it and you can see a path, it's hard to make that call, that's not a defense, just personal honesty about wanting to make things work as a cofounder. The outcome is that people went unpaid. Vault users affected by the Drift exploit will receive Drift recovery tokens when the Drift team disperses them. To everyone who worked on Ranger and let us delay payment: I'm sorry. This isn't the ending any of us wanted. @ranger_finance will tweet more on the wind down process