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- Source: inbox/queue/2026-03-25-pine-analytics-p2p-me-ico-analysis.md - Domain: internet-finance - Claims: 1, Entities: 4 - Enrichments: 3 - Extracted by: pipeline ingest (OpenRouter anthropic/claude-sonnet-4.5) Pentagon-Agent: Rio <PIPELINE>
2.7 KiB
2.7 KiB
| type | entity_type | name | domain | status | founded | headquarters | website |
|---|---|---|---|---|---|---|---|
| entity | company | P2P.me | internet-finance | active | 2024 | Unknown | https://p2p.me |
P2P.me
Overview
Non-custodial USDC-to-fiat on/off-ramp built on Base. Uses zk-KYC (zero-knowledge identity verification) with on-chain settlement. Operates local payment rails: UPI (India), PIX (Brazil), QRIS (Indonesia), ARS (Argentina).
Product
- Architecture: Non-custodial, Base-native
- KYC: Zero-knowledge identity verification
- Settlement: On-chain
- Payment Rails: UPI (India), PIX (Brazil), QRIS (Indonesia), ARS (Argentina)
- Countries: Live in 4 countries (India, Brazil, Indonesia, Argentina)
Traction (as of March 2026)
- Registered Users: 23,000+
- 78% India (18,071 users)
- 15% Brazil
- Weekly Active Users: 2,000-2,500 (10-11% of registered base)
- Monthly Volume: Peaked at $3.95M (February 2026)
- Cumulative Revenue: $327.4K through mid-March 2026
- Monthly Revenue: $34K-$47K
- Annual Gross Profit: ~$82K
- Volume Growth: 27% average MoM over 16 months
Funding
- Seed Round: $2M (April 2025)
- Multicoin Capital
- Coinbase Ventures
- Alliance DAO
- ICO Target: $6M (March 26, 2026)
- Total Target: $8.33M
ICO Structure (March 26, 2026)
- Total Supply: 25.8M tokens
- ICO Price: $0.60/token
- Tokens for Sale: 10M ($6M target)
- FDV: ~$15.5M
- Float at TGE: 50% (highest in MetaDAO ICO history)
Token Distribution
- Team: 30% (7.74M tokens)
- Performance-gated: Zero benefit below 2x ICO price
- Five tranches at 2x/4x/8x/16x/32x ICO price (3-month TWAP)
- Investors: 20% allocation
- 12-month lock
- Five equal tranches post-lock
- ICO: 10M tokens (38.8%)
Operations
- Team Size: 25 staff
- Burn Rate: $175K/month
- Salaries: $75K
- Growth/Marketing: $50K
- Legal/Operations: $35K
- Infrastructure: $15K
- Runway: ~34 months (from $6M raise)
Roadmap
- B2B SDK: Launching June 2026
- Circles of Trust: Local operators stake tokens to onboard merchants
- Expansion: 20+ countries planned
Risk Factors
- Valuation: 182x multiple on annual gross profit
- User Acquisition: Stalled for six months
- Team Transparency: No publicly available founder backgrounds
- Geographic Focus: Expansion may dilute India/Brazil penetration
Analysis
Pine Analytics verdict: CAUTIOUS. "Real product, on-chain verifiable traction, but valuation appears stretched."
Timeline
- 2024 — Founded
- April 2025 — Raised $2M seed from Multicoin Capital, Coinbase Ventures, Alliance DAO
- March 26, 2026 — p2p-me-ico ICO launch ($6M target, $0.60/token, 50% float at TGE)