Gate News reports that on March 27, Backpack founder Armani Ferrante posted on social media in response to recent community concerns regarding OTC trading, Mad Lads holders’ rights, witch hunts, and token prices. Armani stated that the team had not cashed out through OTC methods, and previous comments about OTC were merely to assist buyers in finding tokens. Regarding the rights of Mad Lads holders, previous holders before TGE will retain Backpack VIP status, while new holders will not have this right, a design intended to incentivize users who focus on the product long-term. In response to the witch hunt issue, Armani admitted that the team’s previous handling was too mechanical and did not sufficiently consider the complexities at the community level, and the team is currently re-evaluating related cases. Additionally, he emphasized that short-term FDV is not a core metric, and the team’s interests are deeply tied to token performance; if the token price goes to zero, the team will not be able to earn any revenue. The team is currently continuing to advance the witch case review and return to product development.
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