Statement.
has been a series of mismanagement, wrong (& unfortunate) timings, and above all poor communication from the team. Today we’re taking responsibility and promising a path forward to make investors whole.
For the record, we have previously developed projects , and the funds raised from investors went fully into development. Also, at the same time the team has barely sold any of the team token from these projects - all provable on chain. We even had instances where we took the money out of our own pockets to refund the seed investors when a failed project was shutting down. If you have been one of our past investors, I hope you at least have the courtesy to confirm this.
Above are not excuses for the disappointment of but simply a glimpse into our past actions, and to enforce the truth that we never intended to rugpull anyone.
Now, regarding the team, or the founder, has not cashed out, or “exit-scammed” any of the presale money apart from the funds used to develop the project.
To better address this, we plan to move the rest of the presale money to a public wallet some time this as soon as we start the compensation process.
The presale was conducted back in March, admittedly when the presale hype was at its peak which was a double-edged sword. Right as the presale concluded, we got right to building & in a span of 5 months the team tried again and again to deliver on our promises - which is an AI project and potentially and ecosystem of products on SOL. We had built
@anotherus_ai, then
@intent_trade and then
@gmdotfun, and the core gm model that powers it all.
Needless to say, none of these products has found PMF, which is one of the reasons why we kept delaying the token launch. The pressure to deliver something great was too much and we faltered. The token launch was a shit show. However, to say that we took the money and do nothing with it is a false accusation.
Investors compensation plan
Moving forward, we believe there are options to at least make it up partially for $GM investors. We’ll be sharing the full details this Friday.