BlockBeats news, on March 27, Backpack founder Armani Ferrante posted on social media in response to FUD, stating: "Every TGE triggers emotional fluctuations because people are too focused on token prices. I want to clarify some issues that have arisen in the past few days and share my perspective:
· OTC: We did not cash out our tokens through over-the-counter (OTC) trading; this is fake news. The truth is that buyers actively contacted me seeking OTC, and we helped them acquire more tokens. Due to other projects historically cashing out through OTC, the community misunderstood our actions.
· Mad Lads: Holders before the TGE retain their Backpack VIP status, while new holders do not enjoy this privilege. The development of Mad Lads has been synchronized with Backpack, focusing on long-term holders rather than short-term speculators at every stage. New holders may have different perceptions, leading to conflicts, but we remain committed to our long-term vision to drive Backpack’s growth.
· Sybills: Our goal is to protect retail users from gaining unfair advantages through account splitting. Our execution was overly simplistic and did not fully consider the complex perspectives of the community, which is our mistake.
· Price/FDV: Short-term price or FDV (Fully Diluted Valuation) after TGE is meaningless. The team is focused on building Backpack for the long term and ensuring long-term success through an extremely designed token economy incentive. If the token price goes to zero, the company fails, and we gain nothing. Our rewards come solely from true long-term success, not short-term price fluctuations."
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