m3taversal
ea5a859032
- 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>
107 lines
5.1 KiB
Markdown
107 lines
5.1 KiB
Markdown
---
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type: entity
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entity_type: company
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name: "P2P.me"
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domain: internet-finance
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handles: []
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website: https://p2p.me
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status: active
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tracked_by: rio
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created: 2026-03-20
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last_updated: 2026-04-02
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parent: "[[metadao]]"
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launch_platform: metadao-curated
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launch_order: 10
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category: "Non-custodial fiat-to-stablecoin on/off ramp"
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stage: growth
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token_symbol: "$P2P"
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token_mint: "P2PXup1ZvMpCDkJn3PQxtBYgxeCSfH39SFeurGSmeta"
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founded: 2024
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headquarters: India
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built_on: ["Base", "Solana"]
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tags: [metadao-curated-launch, ownership-coin, payments, on-off-ramp, emerging-markets]
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competitors: ["MoonPay", "Transak", "Local Bitcoins successors"]
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source_archive: "inbox/archive/2026-01-01-futardio-launch-p2p-protocol.md"
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---
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# P2P.me
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## Overview
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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).
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## Investment Rationale (from raise)
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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.
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## ICO Details
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- **Platform:** MetaDAO curated launchpad (10th launch — most recent)
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- **Date:** March 26-30, 2026
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- **Target:** $6M at $15.5M FDV ($0.60/token, later adjusted to $0.01/token)
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- **Total bids:** $7.15M (above target)
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- **Final raise:** $5.2M
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- **Total supply:** 25.8M tokens
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- **Liquid at launch:** 50% (highest in MetaDAO history)
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- **Team tokens (30%):** 12-month cliff, performance-based unlocks at 2x/4x/8x/16x/32x ICO price
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- **Investor tokens (20%):** 12-month full lockup, then 5 equal unlocks over 12 months
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## Current State (as of March 2026)
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**Product metrics:**
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- **Users:** 23,000+ registered
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- **Geography:** India (78%), Brazil (15%), Argentina, Indonesia
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- **Volume:** Peaked $3.95M monthly (February 2026)
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- **Weekly actives:** 2,000-2,500 (~10-11% of base)
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- **Revenue:** ~$578K annualized (2-6% spread on transactions)
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- **Gross profit:** $4.5K-$13.3K/month (inconsistent)
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- **NPS:** 80; 65% would be "very disappointed" without the product
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- **Fraud rate:** <1 in 1,000 transactions (Proof-of-Credibility)
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**Financial reality:**
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- Monthly burn: $175K ($75K salaries, $50K marketing, $35K legal, $15K infrastructure)
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- Runway: ~34 months at current burn
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- Self-sustainability threshold: ~$875K/month revenue (currently ~$48K/month)
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- Targeting $500M monthly volume over next 18 months
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**Prior funding:**
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- Multicoin Capital: $1.4M (Jan 2025, 9.33% supply)
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- Coinbase Ventures: $500K (Feb 2025, 2.56% supply)
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- Alliance DAO: $350K (2024, 4.66% supply)
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- Reclaim Protocol: $80K angel (2023, 3.45% supply)
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## The Polymarket Incident
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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.
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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).
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## Analyst Concerns
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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.
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## Roadmap
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- Q2 2026: B2B SDK launch, treasury allocation, multi-currency expansion
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- Q3 2026: Solana deployment, governance Phase 1 (insurance/disputes)
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- Q4 2026: Phase 2 governance (token-holder voting for non-critical parameters)
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- Q1 2027: Operating profitability target
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## Timeline
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- **2024** — Founded, initial angel round from Reclaim Protocol
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- **2025-01** — Multicoin Capital $1.4M
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- **2025-02** — Coinbase Ventures $500K
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- **2026-01-01** — MetaDAO ICO initialized
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- **2026-03-16** — Polymarket incident (team bets on own ICO)
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- **2026-03-26** — MetaDAO curated ICO goes live
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- **2026-03-30** — ICO closes. $5.2M raised.
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---
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Relevant Notes:
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- [[metadao]] — launch platform (curated ICO #10, most recent)
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- [[omnipair]] — earlier MetaDAO launch with different token structure
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Topics:
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- [[internet finance and decision markets]]
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