KIP Protocol: The situation with LIBRA is a result of market forces, and any acquired SOL will be used to support Argentine businesses.

BlockBeats News, February 15th, KIP Protocol co-founder Julian posted on social media that, according to President Milei's original tweet a few hours ago, Project Libertad aims to promote the Argentine economy by funding small projects and local businesses, supporting those seeking to develop businesses and contribute to the country's development.

Currently, this funding remains on-chain and will not move any SOL. KIP Protocol's main role in this project is to help allocate funds to Argentine companies, not in terms of tokens, let alone as a liquidity provider. It is important to note that LIBRA did not have a presale, and all tokens were sold through a one-sided liquidity pool.

KIP Protocol will develop a plan to operate Project Libertad based on the initial objectives. Besides the purpose of running Project Viva La Libertad, no SOL will be used. More details will be announced in the future.

Source

Correction/Report

RelatedRecommended

Promote the real use cases of DeAI and focus on the underlying protocol of decentralized AI, KIP Protocol, to bring millions of Web2 AI users into Web3

VanEck: Why did we apply for the SOL ETF?

SOL may reach $3,211 per coin in 2030

Opinion: Why is a SOL ETF so Hard to Come By?

Given SOL's current market cap and circulation, it's probably going to be tough for these institutions to make money.

From Leading to Lagging: Why SOL Struggles to Keep Up with ETH's Momentum

The True Reasons for SOL Lagging Behind ETH: Treasury Strategy, ETF, and Narrative Gap

What's the Background of the 18 SOL Treasury Companies?

18 companies have participated in the Solana ecosystem by establishing a Solana Treasury, staking SOL tokens, launching Solana-based financial strategies, among other means. Some companies have seen a significant increase in their stock price through these strategies.

On-Chain Activity