KIP Protocol: LIBRA issuance and market making are entirely the responsibility of Kelsier, and the tokens will be transferred to a foundation

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ODAILY
02-16
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Odaily report: KIP Protocol released an announcement regarding LIBRA on X: "There is a lot of misinformation about the launch of LIBRA and the role of KIP. To clarify: the token launch and market making were fully handled by Kelsier (@KelsierVentures), represented by the project initiator Hayden Davis. These wallets do not belong to KIP or myself (referring to co-founder Julian). After the token launch, KIP was invited to manage/oversee the selection of funded technical projects and provide technical infrastructure for the AI plan. Therefore, all matters related to the launch and tokens should be directed to Kelsier, as they are handling this and plan to transfer the tokens to a foundation. When Argentine President Javier Milei posted about the project on X, it drew people's attention. At the time, KIP was not involved in the launch, as our role has always been after the token launch. KIP faced a lot of FUD that day, including threats against me and my employees, but we were not involved in the launch, we did not handle any tokens or SOL. KIP publicly acknowledged our role in the project (although not involved in the token issuance) because we were listed on the website and believe in the potential of the plan. As a technology company, our focus remains on innovation and infrastructure - we never focus on token issuance. After discussing with Kelsier, we learned the following steps: •All SOL issued that day will be re-injected into the LP/chart. •All market making fees will be transferred to a foundation in Argentina. •The foundation will continue to run this project as originally planned. All details about the tokens should be sent directly to Kelsier. We did not profit a single penny from today's activities. To reiterate, KIP is not involved in token issuance or market making. We remain committed to transparency and our role in promoting meaningful technology-driven initiatives."

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