Backpack CEO: The team did not cash out short-term FDV through OTC, which had no practical significance

Backpack founder Armani Ferrante issued a post in response to recent community FUD, explaining topics such as OTC transactions, MadLads rights, witch censorship and token prices.<br /> Armani said the team would not cash in by selling its own tokens through OTC, and its previous remarks about OTC were only to help buyers find tokens. All users who held MadLads tokens before TGE will retain their Backpack VIP status, while new users will not have this status.<br /> In addition, Armani emphasized that the FDV value 24 hours or one week after TGE has no practical significance. The short-term FDV is not a core measurement indicator. The team's interests are deeply bound to the success of the token. If the token price returns to zero, the team will not be able to gain benefits.<br /> Regarding the witch review, it admitted that the team's previous handling method was too mechanical and did not fully consider the complexity of the community dimension. The team is currently reviewing relevant cases. Currently, the team is continuing to advance the review of witch cases and returning to development work.