MetaDAO’s [deal terms](https://www.metadao.fi/projects/credible/fundraise) imply a roughly $4.5M-$9.1M initial FDV, or 1.3x-2.6x Credible’s stated revenue run rate of $3.5M/year. Credible’s advertised [16% LP yield](https://credible.finance/) pays for warehousing receivables risk between T+0 merchant settlement and T+3 acquirer clearing; its scale budget for acquirer deposits and first-loss capital is $180,000/month.

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