According to Foresight News, Elijah Madonia, a significant holder of the Meme coin ai16z, currently possesses 16% of its supply. Initially, Madonia purchased 17% of the ai16z supply with 80 SOL. He later sent some tokens to ai16z founder Shaw and another team member, as they did not have the opportunity to buy them themselves. Additionally, Madonia distributed some tokens at a discounted rate to friends, aiming to share the profits.
Madonia now plans to reduce his holdings to 5% and donate the remaining 11% to the ai16z lock-up plan. This initiative is designed to support promising developers and creators and to address liquidity issues through over-the-counter (OTC) transactions. These efforts are expected to benefit the development of the ai16z DAO and attract new partners.
