Next steps for AID and sAID
On October 31st, AID and sAID went live. Thank you to the many users who have migrated their AID Alpha assets! We invite those who’re yet to migrate to do so at aidalpha.gaib.ai/migrate.
In this post we share some updates and next steps for GAIB, AID & sAID.
Season 1 Spice Wrap Up
You can now check your wrap up for the Season 1 Spice program, showing your ranking after audited points and eligibility for the migration bonus as of now.
Check it at aidalpha.gaib.ai/spice
Fremen Essence NFT holders will be eligible for rewards in the context of the Season 1 program!
We have extended the Season 1 rewards migration bonus period for 24 extra hours since the publishing of this announcement on Friday 7th at 3PM UTC.
Users can be eligible for 1.25x if migrating to AID and 2x if staking their AID into sAID. The checker will be updated after you migrate.
For other potentially eligible users, please wait until further announcements.
Withdrawals
Withdrawals are available for all users; they can go to aidalpha.gaib.ai/migrate and withdraw their assets if they wish to, otherwise migrate to AID and, to get the best of the GAIB protocol, stake it and obtain sAID.
This will be available until November 21st. After this point, AID Alpha assets will only be redeemable for AID.
November 21st Upgrade
On November 21st, a significant upgrade will be made to the AID and sAID functionalities. We will do this to incorporate several features into the protocol as initially communicated, and only done at this time for sufficient security, testing and to avoid excessive contract upgrades.
AID Proof of Reserves: We will implement a proof of reserves mechanism, where AID is automatically backed by publicly verifiable onchain T-Bills and stable assets. The final transparency portal for this will be available by the upgrade.
Until then, AID backings will be deployed onchain in US Treasury bills through partners like OpenEden onchain and offchain via other partners for which assurance reports will be issued. We appreciate some patience on this during the initial transition period between the AID Alpha phase, withdrawal and staking.
AID > USDC redemption: We will enable a permissionless mechanism for redemption of AID to USDC on Ethereum mainnet. Other redemption assets and chains will be supported at a later upgrade.
Secondary markets: once redemption is enabled, we’ll support secondary markets on decentralized exchanges for AID, making the asset more liquid.
Cross-chain sAID: sAID will be deployed outside of Ethereum, enabling non-Ethereum AID holders to earn from AI&Robotics yield directly on their chain.
sAID deployment transparency: as the AID Alpha > AID/sAID transition period progresses into maturity and assets are more consolidated, we will share initial capital deployment of sAID funds. We expect this to happen by the end of November.
Spice boost
From November 7th to November 21st, all already migrated, new migrators and new depositors will receive double the Spice, meaning 2x for AID and 6x for sAID holders, to reward users who engage with AID, sAID and GAIB during this transition period.
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We thank our users for their commitment and participation so far. Stay tuned for more updates as we bring the AI & Robotics infra economies onchain.