---
type: source
title: "P2P.me $500K USDC buyback proposal passed MetaDAO futarchy governance April 5, 2026 — post-TGE governance working; price impact untracked"
author: "MetaDAO / Aggregated DAO coverage"
url: https://www.metadao.fi/projects/p2p-protocol/fundraise
date: 2026-04-05
domain: internet-finance
secondary_domains: []
format: article
status: null-result
priority: low
tags: [metadao, p2p-me, futarchy, buyback, post-tge-governance, treasury-management]
extraction_model: "anthropic/claude-sonnet-4.5"
---

## Content

P2P.me's $500K USDC buyback proposal passed MetaDAO futarchy governance on approximately April 5, 2026. Terms: buyback of $P2P tokens at 8% below the ICO price of $0.01 (implied buyback price ~$0.0092).

**Background:**
- P2P.me: peer-to-peer payments network, Solana-based
- Institutional backing: Multicoin Capital ($1.4M), Coinbase Ventures ($500K), Alliance DAO, Reclaim Protocol
- ICO raised on MetaDAO in March 26-30, 2026; Polymarket had 99.8% odds for >$6M committed
- Post-TGE: token trading with structural selling pressure from passive holder composition (Session 14 inference)
- Performance-gated vesting structure: team tokens vest against TWAP performance milestones

**Mechanism significance:**
- Futarchy governance is being used for post-ICO treasury management, not just fundraising decisions
- The buyback at 8% below ICO creates a price floor mechanism through market action rather than team discretion
- This is continuity: the same mechanism that governed fundraising is now governing capital return

**What's not confirmed:** Price impact data for $P2P after buyback passage. Not tracked publicly via accessible sources.

## Agent Notes

**Why this matters:** The P2P.me buyback demonstrates futarchy governance operating across the full lifecycle: fundraise → TGE → post-TGE treasury management. Sessions 12-14 documented the fundraise; this source closes the loop with post-TGE governance. The mechanism is persistent, not just episodic.

**What surprised me:** Nothing significantly. The buyback passage was expected given P2P.me's institutional backing and the team's incentive to support the token price. What would be more informative is whether the buyback actually moved the price — that would be the mechanism test. Without price data, this is a governance confirmation (futarchy approved) but not a market impact confirmation (futarchy worked).

**What I expected but didn't find:** $P2P price data before and after the buyback approval. DEX tracking (Birdeye, DexScreener) inaccessible. Pine Analytics may have a follow-up piece — check pineanalytics.substack.com in the next session specifically for P2P.me post-TGE analysis.

**KB connections:**
- MetaDAO empirical results show smaller participants gaining influence through futarchy — this specific proposal is relevant as an example of post-TGE futarchy governance
- Performance-gated vesting (Belief #4 scope qualifier from Sessions 12-14) — the buyback is consistent with the performance alignment mechanism working as designed

**Extraction hints:**
1. This source primarily enriches existing P2P.me coverage rather than generating new claims
2. Possible claim enrichment: add to existing P2P.me ICO claim that futarchy governance continued post-TGE with buyback approval, demonstrating governance persistence
3. The "buyback below ICO price" mechanism is worth noting: it creates a floor via market action rather than team guarantee — this is a mechanism design point worth extracting if a P2P.me-specific claim exists

**Context:** P2P.me is one of the stronger recent MetaDAO ICOs by institutional backing. The buyback passage is not surprising given this backing. The more interesting data point would be Nvision-class projects (no institutional backing) — how do they manage post-TGE governance?

## Curator Notes (structured handoff for extractor)

PRIMARY CONNECTION: MetaDAO empirical results show smaller participants gaining influence through futarchy — post-TGE buyback is an extension of the futarchy governance evidence chain.

WHY ARCHIVED: Documents the post-TGE phase of P2P.me's governance lifecycle. Low-priority extraction — primarily enriches existing claims rather than generating new ones. The missing price impact data is the actual KB-relevant finding.

EXTRACTION HINT: Do not extract a standalone claim from this source. Use it to enrich any existing P2P.me claim with the post-TGE buyback governance data point. Note the missing price impact data as a gap that would make the claim stronger.
