The Solana-based launchpad MetaDAO has announced the initial coin offering (ICO) for P2P.me, scheduled for March 26, with a minimum funding target of $6 million. P2P.me is an application that facilitates cryptocurrency-to-fiat exchanges, having previously raised $2 million in a seed round in April 2025 from Multicoin Capital and Coinbase Ventures.
MetaDAO and P2P.me Background
MetaDAO operates as an issuance platform within the Solana ecosystem, helping projects launch their tokens. P2P.me aims to simplify the conversion of crypto to fiat through peer-to-peer trading, lowering barriers for users to enter and exit the crypto market. The seed funding from top venture capitalists provided strong validation. Proceeds from the ICO will be used for product development, market expansion, and compliance efforts.
Previous Setback with Hurupay
The upcoming ICO comes after MetaDAO's earlier project Hurupay failed to reach its $3 million fundraising goal, casting doubt on the platform's ability to deliver successful launches. However, P2P.me is seen as a stronger candidate due to its proven team and investor backing.
Market Reaction and Outlook
Following the announcement, MetaDAO's native token META dropped 0.79%, while the P2P.me-related token P2PS edged up 0.04%. Solana (SOL) fell 0.91%. Analysts believe a successful P2P.me ICO could restore confidence in MetaDAO and highlight Solana's potential in real-world asset and payment use cases. As demand for compliant on/off ramps grows, P2P.me could serve as a critical bridge between crypto and traditional finance.
The ICO will be conducted on-chain, requiring participants to use Solana wallets. MetaDAO emphasized strict KYC/AML compliance. Investors should monitor the official details released on March 26.