PANews reported on February 16 that KIP Protocol issued a clarification announcement on the release of $LIBRA and the role of KIP, stating that the token release and market making are entirely the responsibility of KelsierVentures, represented by the project's initiator Hayden Davis, and no wallet belongs to KIP or himself. KIP was invited to manage/supervise the selection of funded technology projects after the release and provide technical infrastructure for AI programs. All matters related to the issuance and tokens should be directed to Kelsier as they are handling the matter and plan to transfer the tokens to the foundation.

The project gained attention when President Miley tweeted about it. At the time, KIP was not involved in the launch, as KIP Protocol’s role is always after the launch. KIP has endured a lot of FUD today, including threats to individuals and employees, but was not involved in the launch and did not handle any tokens or SOL. All SOL earned today will be re-injected into LPs. All market making fees will be transferred to a foundation in Argentina. The foundation will continue to run the program as originally planned. All details regarding the tokens should be sent directly to Kelsier. KIP Protocol did not receive a penny of profit from today’s activities. KIP is not in the business of issuing tokens or making markets.