TechFlow news — On March 11, GoPlus Security officially announced a series of remedial measures in response to recent price volatility of the GPS token.
First, upon completion of regulatory procedures, the team will take control of the 4.34 million USDT market-making funds frozen on Binance and use them for a 90-day token buyback program, followed by permanent burning of the repurchased tokens.
Second, an additional $2 million will be allocated to directly compensate users who had a net purchase of $GPS on Binance between March 4, 21:00:00 and March 5, 17:55:59 (UTC+8). Compensation will be distributed in USDC within 30 days.
In addition, GoPlus will conduct a snapshot on March 13 at 10:00 UTC to record staking duration and amounts across all staking addresses. These users will receive extra GPS token rewards in the next season's airdrop. Reward ratios will be determined based on staking duration and amount, and Soulbound Tokens (SBTs) will be airdropped to all eligible wallet addresses as on-chain credentials.
