AID and sAID: November 21st upgrade
AID and sAID, our synthetic dollar and yield bearing assets, have now been live for 2 weeks. We appreciate all the pre-depositors who migrated from AID Alpha as well as the new people minting AID for the first time.
Today we publish additional details to the upgrade that these products will have this Friday, November 21st, as initially communicated on our launch on October 31st.
Context
GAIB ran a pre-deposit campaign from May 2025, during which users received a receipt token, AID Alpha, from their stablecoin deposits. At the end of this pre-deposit campaign, on October 30th, we invited users to migrate to AID by redeeming their AID Alpha receipt tokens, and then staking AID to obtain sAID, our yield bearing asset, to get the best of the GAIB protocol by earning yield from AI & Robotics financing onchain. Users also had the option to withdraw their originally deposited stablecoins.
At launch, we communicated several features would be implemented on November 21st. In this blog post you can understand these features, as well as how they will work from this date
Proof of reserves
AID is a synthetic digital dollar, backed 1:1 by a reserve of US Treasury bills and stablecoin assets.
sAID is a yield bearing asset, and ERC-20 token representing an ERC-4626 vault. sAID is backed by a portfolio of AI & Robotics tokenized financing deals and a reserve of US Treasury bills & liquid stable assets for additional liquidity.
To ensure full transparency of the backings of both assets, on November 21st GAIB will implement:
- Onchain attestation: a combination of addresses on Ethereum mainnet holding widely accepted stablecoins like USDT and USDC will be displayed, together with US Treasury bills purchased onchain through OpenEden’s USDO. This will serve as the proof of reserves for AID and the part of sAID reserves that is held in US T-Bills and stablecoins.
- Offchain attestation: for the AI & Robotics financing, a combination of 3rd party attestation partners will issue reports on where the capital is deployed in.
The two will conform to GAIB's transparency efforts, following the standard onchain and offchain standards to ensure users of their capital’s safety.
AID > USDC redemption and secondary market liquidity
On November 21st, AID will be redeemable 1:1 instantly for USDC on Ethereum, as mainnet will be the base chain for the entire GAIB ecosystem. Users holding AID on other chains can bridge to Ethereum and redeem at any time if they wish to. Once this feature is available, GAIB will start supporting secondary markets for AID on widely used decentralized exchanges like Curve.
At the launch of AID and sAID, users had an informed choice between migrating from AID Alpha or recovering their originally deposited stablecoins. The liquidity commitments around the various assets were clearly disclosed, and the fact that secondary markets wouldn’t be supported until redemption was live was clearly mentioned, as it would effectively mean enabling redemption prematurely.
From November 21st, AID Alpha assets will only be redeemable for AID, and only from AID they will be able to redeem for stablecoins, culminating our product transition.
Unstaking sAID
sAID will be unstakable from November 21st, enabling users to unwind their positions with a 30 day cooldown period. Users will need to wait until this 30 days have passed to move from AID to stables if they wish to. Supporting secondary markets for sAID will be considered at a later stage of the protocol.
Why November 21st
As GAIB migrates from the AID Alpha phase into our final products AID and sAID, a transition period is taking place, starting with the launch of AID and sAID on October 31st and continuing with the opening of withdrawals from AID Alpha on November 7th.
As such, some capital is currently still in AID Alpha assets, some is available for withdrawals in stablecoins, some capital is on AID and/or sAID, and a small remaining part is still deployed in our business model, AI and Robotics financing deals.
The highly dynamic nature of these capital flows makes it complicated to produce a comprehensive proof of reserves that accounts for the entirety of these constantly moving positions.
Also for capital security issues, separating the stages of development was found to be the safest way to proceed, preventing possible attacks to our mechanisms
These are the reasons we decided to communicate these caveats well at launch, acknowledging the liquidity events and product features plans, and the order of events as they were intended.
To account for this transition period, several incentives were offered to users, including up to 2x Season 1 rewards, a 1.2x loyalty Spice multiplier in Season 2, 2x Spice during these two weeks from launch until November 21st, and 4x Spice for supplying liquidity.
Conclusions
GAIB continues to meet liquidity commitments to its users, and from November 21st, AID and sAID reserves will be continuously verifiable on and offchain, AID will be continuously redeemable for USDC and sAID unstaking will be available.
In the meantime, users who haven’t migrated yet can continue to withdraw from our reserves (available here), and users invested in AID and sAID just need to wait until November 21st for a full reserves backing and redemption.
We deeply thank our users for their trust and support through this transition period, and we hope to bring the AI infra and Robotics economies even more onchain for you all to generate real-world yield like crypto has never seen.
For any questions or concerns, don’t hesitate to reach out on our Discord community or X.