TechFlow news, November 20 — Today, GAIB, a project focused on the economic layer of AI and robotics infrastructure, released an official statement regarding external entities selling tokens prematurely on TGE day, and announced the launch of the official GAIB buyback program.
In the statement, GAIB emphasized that approximately five wallets identified by the community, each selling around one million GAIB tokens, are not affiliated with the team, advisors, or any internal entity. All tokens belonging to the team and core contributors are currently locked, and the GAIB team has not sold any tokens.
According to internal investigations, these wallets belong to external market institutions across multiple regions. Under their pre-TGE cooperation agreements, the tokens they received were strictly designated for post-launch community incentive activities and were explicitly prohibited from early sales. However, certain institutions violated this agreement by selling tokens on TGE day, constituting a serious breach of contract.
GAIB has issued formal notices to the involved institutions, demanding full repurchase of all sold GAIB tokens, submission of on-chain buyback proof,
and acceptance of all consequences resulting from the breach. As the relevant institutions have not provided clear responses, GAIB will immediately initiate its official buyback program, with the team directly commencing market purchases of the improperly sold tokens to ensure community interests remain unaffected by third-party actions.
GAIB stated in the announcement:
"We will not let the community bear any consequences. The buyback program reflects our commitment to responsibility and transparency."
GAIB will promptly disclose the latest updates to the community once further details on the buyback execution are available.
