GAIB launches official buyback plan in response to external institutions' early token sale events

AI and Robotics Infrastructure Economic Layer Project GAIB today released an official statement regarding the incident of external organizations prematurely selling tokens on the day of the TGE, 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 from the team, advisors, or any internal entities. All tokens held by the team and core contributors are currently locked, and the GAIB team has not sold any tokens.

After an internal investigation, it was found that these wallets belong to external market institutions from multiple regions. According to their cooperation agreements prior to the TGE, the tokens they received were only to be used for community activity incentives after the launch and were explicitly prohibited from being sold prematurely. However, some institutions violated the agreement and sold tokens on the day of the TGE, constituting a serious breach.

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 did not provide a clear response, and GAIB will immediately initiate the official buyback plan, with the team directly starting to buy back the tokens that were sold in violation on the market, ensuring that the community's interests are not affected by any third-party actions.

GAIB stated in the announcement:

"We will not let the community bear any consequences. The buyback plan is our commitment to responsibility and transparency."

GAIB will announce the latest progress to the community as soon as further details of the buyback execution are obtained.