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GAIB Initiates Official Buyback Plan in Response to External Token Dump Incident
BlockBeats News, November 20th, GAIB, the AI and Robotics Infrastructure Economic Layer project, today released an official statement regarding the external institutional early token sale incident that occurred on the TGE day and announced the launch of the GAIB Official Buyback Plan.
In the statement, GAIB emphasized that the approximately 5 wallets identified by the community, each selling about 1 million GAIB tokens, are not owned by the team, advisors, or any internal entity. All team and core contributor tokens are currently locked, and the GAIB team has not sold any tokens.
After an internal investigation, these wallets were found to belong to various external market institutions. According to their pre-TGE cooperation agreement, the tokens they received were only for post-listing community event incentives and were expressly prohibited from early sale. However, some institutions violated the agreement by selling the tokens on the TGE day, constituting a serious breach of contract.
GAIB has issued a formal notice to the relevant institutions, demanding a full buyback of all sold GAIB tokens, providing on-chain buyback proof, and bearing all consequences of the breach. However, the relevant institutions have not provided a clear response, so GAIB will immediately launch the official buyback plan, with the team directly repurchasing the tokens sold in violation on the market to ensure that the community's interests are not affected by any third-party actions.
GAIB stated in the declaration: "We will not let the community bear any consequences. The buyback plan is our commitment to responsibility and transparency." GAIB will announce the latest developments to the community as soon as further buyback execution details are obtained.
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