Rogue Platapi: an advert that pays you, if you were watching

Full memo

Posted Mar 30, 2026

Terms

Coupon

12.00%

Term

18 months

Drawn in

BSV

Coupon paid in

MNEE

Payments

monthly

Structure

amortising

Seniority

senior

Term start

May 1, 2026

Maturity

Nov 1, 2027

Minimum position

0.50 BSV

Next due

Oct 1, 2026 · 32.22 BSV + 166.46 MNEE

Schedule

Rogue Platapi

Rogue Platapi Media Ltd · Advertising · Austin, Texas · founded 2025

Full profile

A pay-to-view advertising network that pays the viewer, provided they answer a question about what they just watched. Shown at Austin. The question is the product: it is what lets an advertiser buy attention rather than impressions, and what stops the network paying a script.

Loans taken

1

Repaid in full

0

Instalments on time

88%

Borrowed to date

580 BSV

Who runs it

• Marta Zielinska

  Founder

What could go wrong

• Paying people attracts people who want paying

  high risk

  Answer-farming is the obvious attack and it is a permanent operating cost rather than a solved problem. 21% of this loan goes to fraud detection for that reason.

• The float grows with success

  high risk

  Every new advertiser widens the gap between paying viewers and being paid. Growth consumes working capital here rather than generating it.

• Advertiser concentration

  medium risk

  Three of the eleven are 64% of billings.

What secures it

Collateral

Charge over the advertiser receivables and the network fee stream.

Collateral coverage

2.96×

$22,300 of security against $7,527 still outstanding. The line is one times.

How it was marked. Advertiser receivables at 80% under 60 days and nil beyond it. Fee stream at 18 months of trailing average, discounted 35%. Marked Apr 3, 2026 by Abhi Sridharan.

A mark on a date, not a valuation and not a promise. Nothing here can be sold at 3am: enforcing a charge over stock or receivables takes months, costs money, and recovers less than the figure above.

This loan is drawn in BSV. Move the price.

Rogue Platapi owes BSV and earns in ordinary money. You hold a claim on BSV and think in dollars. The same move helps one of you and hurts the other.

Change in the price of BSV

−60%0% BSV+100%

Your principal

$7,527

unchanged from today

What it costs them to repay

as agreed

the schedule as written

The coupon is not on either side of this: it was fixed in dollars at drawdown and a move in the price does not touch it. Arithmetic on a figure you chose, not a forecast.

Recourse

Full recourse to Rogue Platapi Media Ltd.

1. Aug 22, 2026

   Caught-rate is holding at about 3.1% of sessions

   Three point one per cent of sessions flagged and refused payment this quarter, roughly flat on last. The pattern that works best against us is still a human answering honestly on behalf of a farm of devices, which the question cannot detect on its own and which the device fingerprinting does.

   
2. May 6, 2026

   Funded, and the eleventh advertiser signed

   580 BSV. The eleventh signed the week after close, which takes the top three from 71% of billings to 64%. Still concentrated and moving the right way.

Some updates on this loan are visible only to lenders holding a position. They are withheld on the server, not hidden in your browser.

What the borrower answered before the listing went up, and everything asked since. Anyone can read this; anyone with a wallet connected can ask.

Answered in advance

What stops somebody automating the answers?

Nothing on its own, which the listing says plainly. The question raises the cost of the attack and device fingerprinting catches the rest. Current caught-rate is about 3.1% of sessions and it is reported to lenders quarterly.

Why does growth need more capital?

Viewers are paid on completion and advertisers pay in arrears, so every additional advertiser widens the float before it narrows it. It is the central risk on this loan.

Asked on this page