BlockBeats message, March 27: The P2P Protocol team responded to the FUD triggered by large predictions made by the account named “P2PTeam” on Polymarket: it does not confirm or deny whether the account belongs to the team or its affiliates. Only 10 days after the announcement on IC0, the account used $20,000 worth of USDC to buy a large amount of “Yes” shares with a total public offering commitment that would exceed $6 million, $8 million, $10 million, and so on. However, most of the team’s VC pre-commitments were only finalized 4–5 days ago, and the VCs have all publicly announced their involvement, with information being transparent.
The P2P Protocol team pointed out that using $20,000 to make predictions in a high-volume market yields potential returns of only about $30,000; this is not market manipulation or insider trading, but merely an early “belief” bet for entertainment. Naming the account “P2P Team” may be deliberate, intended to toy with users’ short-term thinking.
MetaDAO launched the IC0 for P2Pdotme on March 26, with a minimum funding target of $6 million. It has currently raised $5.3 million and will end on March 30. According to monitoring by PolyBeats, on the prediction market Polymarket, the probability that P2P Protocol’s public offering commitment total will exceed $6 million is already 100%, and the probability that it will exceed $8 million is currently 97%.
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