🟢 Backpack Founder Armani Releases Lengthy Statement
1️⃣ Regarding OTC
- The claim that Backpack is secretly selling via OTC to cash out is not true.
- External buyers had inquired about OTC, and mentioning this on Discord caused a misunderstanding.
2️⃣ Regarding Mad Lads
- Existing Mad Lads holders who have held them since before the TGE will retain their Backpack VIP status.
- However, holders who purchased them after the TGE will not receive the same benefits immediately.
- While the backlash is understandable, Backpack has always designed its rewards around Backpack product users rather than the NFTs themselves.
- From the beginning, the structure—including whitelisting, reveal, xNFT, airdrops, VIP points, and BP tokens—has been designed to elevate users of Backpack products to the next level.
- New NFT buyers may have complaints, but the team has determined that this is economically sound.
- Also, there are users who have not yet been able to use the service due to KYC and regional restrictions; once those regions open up later, we will allow them to catch up through drops and campaigns. Scheduled
3️⃣ Regarding Civil
- The purpose of preventing Civil itself is to "protect regular users from whales/skilled users who split points across multiple accounts."
- However, we acknowledge that the problem was that the judgment process was too black-and-white.
- The team believed that clear standards were maintained, but the community felt there were many more nuanced cases, and we reflect on the fact that we failed to adequately consider that aspect.
- In other words, there were mistakes in responding to Civil, and we will review the relevant cases again.
4️⃣ Regarding Price/FDV
- It is meaningless to evaluate the entire project based on FDV within 24 hours, or even just one week, immediately after the TGE.
- It is more important to make Backpack successful in the long term than short-term price.
- The structure is such that the team faces the most severe penalties if the token price collapses; it is not a system where the team becomes rich solely through company revenue.
- Going forward, we will focus on the build and long-term value creation rather than discussing price.
5️⃣ Conclusion
- While this is a quite difficult phase for Backpack, a project cannot exist without a community.
- Especially regarding the Civil-related issues, we will address them again. I will review it.
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