GoPlus Security has just announced a recovery and improvement plan aimed at stabilizing the price of the GPS token following recent fluctuations. According to the official announcement on platform X, the company will implement two key measures:
1. Commitment to GPS Token Buyback
Binance has frozen the USDT obtained from GPS transactions in the initial market maker's account, with a current balance of 4.34 million USDT. After completing the necessary legal procedures, GoPlus Security will take over these funds and use the entire amount to buy back GPS over the next 90 days, in compliance with legal and market regulations.
Objectives of the buyback program:
- Enhance market liquidity and mitigate the impact of previous market-making activities.
- Restore investor confidence through a transparent, regulatory-compliant process with regular community updates.
- Buy back GPS on Binance by placing limit orders in the GPS/USDT trading pair, executing multiple small purchases daily to avoid significant price fluctuations.
- Permanently burn all repurchased tokens to ensure no future market impact.
2. Compensation Plan for GPS Investors on Binance
GoPlus Security will allocate 2 million USDC to directly compensate users who traded GPS on Binance.
Eligibility for compensation:
- Users with a net positive GPS purchase volume (total GPS bought minus total GPS sold) during the period from 20:00 on March 4 to 16:55 on March 5 (Vietnam time).
- Applies to both spot and margin trading.
- Compensation distribution method: Binance will directly distribute the 2 million USDC to eligible accounts.
With these measures, GoPlus Security aims to ensure the sustainable development of the GPS token and strengthen investor confidence in the community.