Project Research Dossier — Tapir Protocol (planned $TPR)

Pre-TGE. Core V1 exists. TPR not deployed. No active ICO/TGE in primary sources. Figures below are proposed, not on-chain.

What it builds Tapir splits a base asset 1 → 0.5 DP + 0.5 YB. DP gets more collateral if the oracle records a qualifying depeg; YB absorbs the loss. Settlement is formula-based after resolution, not a discretionary claim.

Sources https://docs.tapir.money/ https://docs.tapir.money/readme/how-it-works https://doc.tapir.money/tokenomics https://github.com/tapir-protocol/public-tapir-core-v1 https://github.com/tapir-protocol/public-tapir-core-v1/blob/main/docs/tapir_access_control.md https://doc.tapir.money/resources/security-and-audits

Live vs proposed Live: pools, oracles, factory, router, fees to treasury. Not live: TPR, DAO, points distributor, buyback. Do not model the 50/50 fee split as current behavior.

Tokenomics (proposed) 1B TPR. FDV N/A. Circulating = 0. Pre-Seed 8% — 5m cliff, 12m linear, 10% TGE Seed 10% — 5m cliff, 16m linear, 8% TGE Public/Series A 10% — 1m cliff, 4m linear, 20% TGE Team 33% — 12m cliff, 24m linear, 0% TGE Partners 10% — 6m cliff, 16m linear, 50% TGE LI 15% — 120m points 1:1 + 30m reserve; 0% TGE Advisors 4% / Treasury 10% — 0% TGE

Unlock / dilution Proposed TGE float 8.6% (86m) = 8+8+20+50. Day 0: partners + public. Months 1–5: public vest ends. Month 12: team 33% starts. 30m reserve is overhang. $10m TVL is an announcement trigger, not an auto-unlock.

Team / control Verified: docs, GitHub, Quantstamp + Hashlock. Not verified: named cap table, token contracts, DAO control. Admin/operator still govern fees, pauses, oracles.

Risks Oracle/admin paths. Token layer unbuilt. High team share + short investor cliffs. Possible future public sale. Audits don’t cover TPR/DAO/burn.

Call Product is sourceable. TPR is not investable yet. Option on a protocol, not a valuation.

Disclosure No position. No TPR. No Tapir incentive. Checked 25 Sep 2026.

Weak point: 8.6% TGE float is a table, not a contract.