PANews reported on March 11 that in response to the price fluctuations of GPS tokens, GoPlus Security released a remediation and improvement plan on the X platform: 1. Market maker fund repurchase commitment, Binance has frozen the USDT assets generated by GPS transactions in the original market maker account (the current balance is 4.34 million USDT). Once the regulatory procedures are completed, these funds will be transferred to our control. We promise: within 90 days, in accordance with laws, regulations and market rules, use these funds to repurchase GPS tokens to support healthy market development; optimize market liquidity through this repurchase plan, reduce the impact of previous market making activities, and rebuild market confidence; ensure that the repurchase process is transparent and compliant, regularly update the community, and maintain close communication with relevant parties. Repurchase principles: set limit orders on Binance's GPS/USDT trading pair; make multiple small purchases every day to avoid causing market fluctuations; all repurchased tokens will be permanently destroyed to prevent future market impacts.
2. Additional Compensation Plan: The team has allocated $2 million in additional funds to compensate users directly. This compensation will be distributed directly through Binance to users who made net purchases on the Binance platform between 21:00:00 on March 4 and 17:55:59 on March 5 (UTC+8). Eligible users will receive a corresponding share of the $2 million USDC. Net buyer definition: The total amount of GPS tokens purchased minus the total amount of GPS tokens sold during the qualification period must be a positive number. Note: This compensation plan includes spot and leverage users.
In addition, GoPlus Security also released several improvement plans, including a pledge user incentive plan, enhanced token practicality, and optimized liquidity management. Among them, the user incentive plan is to take a snapshot of all pledge wallets at 10:00 UTC on March 13 to record the duration and amount of pledges; these loyal pledgers will receive additional GPS token allocations in the next quarter's airdrop.
