The whale who holds 16% of the supply of ai16z claims to plan on donating 11% of the total token amount to support project development

PANews reported on October 29th that whale Elijah Madonia, who holds 16% of ai16z's supply, stated on platform X that he had purchased 17% of ai16z's supply with 80 SOL. He then sent some tokens to Shaw, the founder of ai16z, and another team member because "they didn't even have a chance to buy". Later, Elijah distributed some tokens to his friends at a discounted price in hopes of sharing profits. Elijah further pointed out that he still holds 16% of the ai16z supply and plans to reduce his position to 5%, donating the remaining 11% to ai16z's lock-up plan. This plan aims to support promising developers and creators and solve liquidity problems through feasible OTC transactions. These transactions are beneficial for the development of the ai16z DAO and bring in new partners.