# P2P NAV Buyback Program

P2P Protocol's proposal "P2P NAV Buyback Program" has not started trading yet. $0 traded across 0 trades by 0 traders.

A P2P Protocol governance proposal decided by a futarchy decision market, as analysed on 01Resolved. Data as of 2026-10-24 23:35 UTC.

- [Proposal page](https://www.01resolved.com/p2p-protocol/proposals/CU2bZp1Bop1FW62Ec1hsZmTbGXoLjRrNDDYmDxTA3nCA): charts, comparables, and every trade.
- [P2P Protocol summary](https://www.01resolved.com/ai/projects/p2p-protocol.md) and [all proposals](https://www.01resolved.com/p2p-protocol/proposals).

## Outcome

| Metric | Value |
| --- | --- |
| Status | Initiated |
| Result | – |
| Start (UTC) | 2026-07-13 19:02 |
| End (UTC) | 2026-07-16 19:02 |
| TWAP window starts (UTC) | 2026-07-14 19:02 |
| Staked | 0% |
| Pass threshold | 3% |
| Approved TWAP | $0.00 |
| Rejected TWAP | $0.00 |

The proposal passes when the approved (pass) TWAP beats the rejected (fail) TWAP by more than the threshold. A live proposal's standing can still change.

## Market overview

| Metric | Value |
| --- | --- |
| Pass pool TVL | $0 |
| Fail pool TVL | $0 |
| Net volume tilt (toward pass) | 0% |
| Net trader tilt (toward pass) | 0% |
| Total trades | 0 |
| Total volume | $0 |

## Outcome strength

| Metric | Value |
| --- | --- |
| Traders, pass-aligned | 0.00% (0) |
| Traders, fail-aligned | 100.00% (0) |
| Volume, pass-aligned | 0.00% ($0) |
| Volume, fail-aligned | 100.00% ($0) |
| Late conviction | Low |

Net pass-aligned volume accumulated before the TWAP window: $0; during it: $0.

Pass-aligned means buying pass or selling fail; fail-aligned is the reverse. Strong participation alone does not show that a decision was economically correct.

## Trade activity

| Metric | Value |
| --- | --- |
| Unique traders | 0 |
| Repeat traders (across P2P Protocol decision markets) | 0% |
| Largest single trade | – |
| Average trade value | $0 |

## Proposal text

As submitted by the proposer; not written or verified by 01Resolved.

Type: Operations Direct Action
Author(s): Community Members

#### Summary
If passed, up to 1,000,000 USDC of treasury funds will be used to purchase P2P tokens at prices up to the current net asset value (NAV) per P2P, as calculated below, over a period of 7 days.
All acquired P2P will be transferred to the project treasury.

#### Motivation
P2P is currently trading below net asset value. This creates a gap between the market price of P2P and the liquid USDC value backing each externally circulating token.
When an ownership token trades below NAV, the treasury can buy back tokens at accretive prices. This gives sellers a path to exit near treasury value while increasing the NAV per remaining externally held P2P token.

This buyback serves three purposes:
1. Reduce the incentive for NAV arbitrage or liquidation pressure.
2. Provide liquidity to holders who prefer to exit.
3. Concentrate ownership among holders who want P2P to continue building.
The proposal does not authorize purchases above NAV. Any unspent funds will remain under DAO control.

#### NAV Calculation
For NAV purposes, DAO-owned P2P is not treated as a treasury asset. Instead, DAO-owned P2P is removed from effective supply.
This avoids circularly valuing the DAO's own token as treasury value, especially where P2P is held inside a DAO-owned LP position.
P2P in the meteora pool won't be used in calculation as irrelevant for nav purposes of an asset trading under nav
NAV is calculated as:
NAV =
(USDC in treasury - July 2026 operating spend + USDC in DAO-owned LP)
/
(total P2P supply - DAO-owned P2P - P2P in DAO-owned LP)

Current DAO-owned LP balances:
P2P in LP:                 2,324,825.82 P2P
USDC in LP:                1,032,335.42 USDC

Using the above methodology:
DAO owned assets =
3,810,178.89036 (USDC owned by the DAO)
- 175,000.00 (July max allowance)
+ 1032335.42 (USDC in DAO owned LP)
Effective supply =
12,000,000 (total p2p supply)
- 940795.468 (DAO-owned P2P outside LP)
- 2,324,825.82 (DAO-owned P2P in LP)

NAV = DAO owned assets / effective supply = 0.53438
The maximum buyback price shall be set to the resulting NAV per P2P at the time of proposal execution.

#### Logistics
Up to 1,000,000 USDC of treasury funds will be used to purchase `P2PXup1ZvMpCDkJn3PQxtBYgxeCSfH39SFeurGSmeta` (P2P) tokens with a maximum price of $0.53438 per token.

Orders will be placed via Jupiter recurring orders every five minutes over a period of 7 days, for a total of 2,016 orders.

#### Specifications
| Parameter | Value |
| --- | --- | 
| Amount | 1,000,000 USDC |
| Order Type | Recurring |
| Order Quantity | 2,016 |
| Order Frequency | Every 5 minutes |
| Effective Time Horizon | 7 days |
| Maximum Order Price | 0.53438 |
| Estimated P2P Purchased | 1,871,327.51 , assuming full use at max price |

#### Acquired Token Disposition
All P2P tokens acquired through this program will be transferred to the project treasury: `9Rykf7i9fxUaXD8iD6GSGpRaoWQQP51Uiq1oxSE9oDzx`.
Acquired tokens may be used for:
- Future ecosystem incentive programs (subject to governance approval)
- Strategic partnership allocations (subject to governance approval)
- Token burns (subject to governance approval)
Acquired tokens shall not be:
- Sold back into the market
- Allocated to insiders or affiliates on preferential terms
- Used as market making inventory

#### Process
This proposal includes instructions to execute a Jupiter recurring order as stated above.
NOTE:
Any funds remaining in the order (should it fail to complete its total number of orders in quantity) will remain in the DCA account until there is a subsequent proposal to redirect or cancel the order.
All P2P tokens acquired will be transferred to the project treasury.

## Citing this data

Source: 01Resolved, "P2P NAV Buyback Program" (P2P Protocol decision market), data as of 2026-10-24 23:35 UTC. https://www.01resolved.com/p2p-protocol/proposals/CU2bZp1Bop1FW62Ec1hsZmTbGXoLjRrNDDYmDxTA3nCA.