KIP Protocol Clarifies Role in LIBRA Token Issuance

KelsierVentures, a venture capital firm, has been at the forefront of the cryptocurrency scene, recently issuing and providing liquidity for the LIBRA token. However, KIP Protocol, a decentralized platform, has clarified its role in the process, stating that it did not receive a share of the profits generated from the token's issuance.

In a statement posted on a social media platform, KIP Protocol explained that the release and liquidity provision of the LIBRA token were entirely handled by KelsierVentures and its founder, Hayden Davis. KIP Protocol's role is to selectively manage and oversee funded technical projects after their release and provide technical infrastructure for AI initiatives. The platform emphasized that it was not involved in the release of the LIBRA token, nor did it handle any tokens or SOL. Furthermore, KIP Protocol stated that it did not profit from the LIBRA token issuance and is not involved in liquidity provision activities.

KIP Protocol's clarification comes amidst a wave of Fear, Uncertainty, and Doubt (FUD) surrounding the project, including threats against individuals and employees. The platform has faced criticism and speculation regarding its involvement in the LIBRA token issuance, which it has consistently denied. KIP Protocol's role has always been to come into play post-release, focusing on managing and overseeing funded technical projects and providing technical infrastructure for AI initiatives.

The issuance of the LIBRA token has sparked interest and debate within the cryptocurrency community. While some have praised the project's potential, others have raised concerns about its regulatory implications and the potential for market manipulation. As the cryptocurrency landscape continues to evolve, projects like KIP Protocol and KelsierVentures will play a crucial role in shaping the future of decentralized finance and AI initiatives.