m3taversal ea5a859032 rio: upgrade 7 ownership coin entity files with research + correct attribution

- What: Rewrote mtnCapital, Avici, Loyal, ZKLSOL, Paystream, Solomon, P2P.me entities
- Why: Entities had wrong parent (futardio instead of metadao), missing investment
  rationales, no governance activity, stale/thin content. Bot couldn't answer basic
  questions about MetaDAO launches.
- Changes per entity:
  - Corrected parent: [[metadao]] (curated launches, not futardio permissionless)
  - Added launch_platform, launch_order fields for proper sequencing
  - Added investment rationale from original raise pitches
  - Added governance activity tables (buybacks, restructuring, team packages)
  - Added open questions and competitive context
  - Removed hardcoded prices (live tool handles this)
- Sources: X research, decision records, source archives, web search

Pentagon-Agent: Rio <244ba05f-3aa3-4079-8c59-6d68a77c76fe>

2026-04-02 10:50:49 +00:00

5.1 KiB

Raw Blame History

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P2P.me

Overview

Non-custodial peer-to-peer USDC-to-fiat on/off ramp targeting emerging markets. Users convert between stablecoins and local fiat currencies without centralized custody. Live for 2 years on Base, expanding to Solana. Uses a Proof-of-Credibility system with zk-KYC to prevent fraud (<1 in 1,000 transactions).

Investment Rationale (from raise)

The most recent MetaDAO curated launch and the first with a live, revenue-generating product and institutional backing. The bull case: P2P.me solves a real problem in emerging markets (India, Brazil, Argentina, Indonesia) where traditional on/off ramps are expensive, slow, or blocked by banking infrastructure. In India specifically, zk-KYC addresses the bank-freeze problem that plagues centralized crypto services. VC backing from Multicoin Capital ($1.4M), Coinbase Ventures ($500K), and Alliance DAO ($350K) provides validation and distribution.

ICO Details

Platform: MetaDAO curated launchpad (10th launch — most recent)
Date: March 26-30, 2026
Target: $6M at $15.5M FDV ($0.60/token, later adjusted to $0.01/token)
Total bids: $7.15M (above target)
Final raise: $5.2M
Total supply: 25.8M tokens
Liquid at launch: 50% (highest in MetaDAO history)
Team tokens (30%): 12-month cliff, performance-based unlocks at 2x/4x/8x/16x/32x ICO price
Investor tokens (20%): 12-month full lockup, then 5 equal unlocks over 12 months

Current State (as of March 2026)

Product metrics:

Users: 23,000+ registered
Geography: India (78%), Brazil (15%), Argentina, Indonesia
Volume: Peaked $3.95M monthly (February 2026)
Weekly actives: 2,000-2,500 (~10-11% of base)
Revenue: ~$578K annualized (2-6% spread on transactions)
Gross profit: $4.5K-$13.3K/month (inconsistent)
NPS: 80; 65% would be "very disappointed" without the product
Fraud rate: <1 in 1,000 transactions (Proof-of-Credibility)

Financial reality:

Monthly burn: $175K ($75K salaries, $50K marketing, $35K legal, $15K infrastructure)
Runway: ~34 months at current burn
Self-sustainability threshold: ~$875K/month revenue (currently ~$48K/month)
Targeting $500M monthly volume over next 18 months

Prior funding:

Multicoin Capital: $1.4M (Jan 2025, 9.33% supply)
Coinbase Ventures: $500K (Feb 2025, 2.56% supply)
Alliance DAO: $350K (2024, 4.66% supply)
Reclaim Protocol: $80K angel (2023, 3.45% supply)

The Polymarket Incident

In March 2026, the P2P.me team placed bets on Polymarket that their own ICO would reach the $6M target, using the pseudonym "P2PTeam." They had a verbal $3M commitment from Multicoin at the time. They netted ~$14,700 in profit. The team publicly apologized, sent profits to the MetaDAO treasury, and adopted a formal policy against future prediction market trades on their own activities. Covered by CoinTelegraph, BeInCrypto, Unchained.

This incident is noteworthy because it highlights the tension between prediction market participation and insider information — the same issue that recurs in futarchy design (see MetaDAO decision market analysis).

Analyst Concerns

Pine Analytics characterized the valuation as "stretched relative to fundamentals" — the ~182x price-to-gross-profit multiple requires significant growth acceleration that recent data does not support. User growth has stalled for ~6 months with weekly actives plateauing. Delphi Digital found 30-40% of MetaDAO ICO participants are passives/flippers, creating structural post-TGE selling pressure independent of project quality.

Roadmap

Q2 2026: B2B SDK launch, treasury allocation, multi-currency expansion
Q3 2026: Solana deployment, governance Phase 1 (insurance/disputes)
Q4 2026: Phase 2 governance (token-holder voting for non-critical parameters)
Q1 2027: Operating profitability target

Timeline

2024 — Founded, initial angel round from Reclaim Protocol
2025-01 — Multicoin Capital $1.4M
2025-02 — Coinbase Ventures $500K
2026-01-01 — MetaDAO ICO initialized
2026-03-16 — Polymarket incident (team bets on own ICO)
2026-03-26 — MetaDAO curated ICO goes live
2026-03-30 — ICO closes. $5.2M raised.

Relevant Notes:

metadao — launch platform (curated ICO #10, most recent)
omnipair — earlier MetaDAO launch with different token structure

Topics:

internet finance and decision markets

5.1 KiB Raw Blame History