PANews April 18 news, RaveDAO responded to recent rumors of market manipulation surrounding the RAVE token on platform X, clearly stating that the team is not involved and does not take responsibility for the recent price fluctuations.

RaveDAO stated that in the future, they will explore token lock-up mechanisms based on price or performance triggers to bind team incentives with ecological growth. At the same time, the team plans to sell a portion of unlocked tokens at an appropriate time according to the established TRS mechanism for expenses related to operations, recruitment, marketing, and strategic investments.

RaveDAO emphasized that the long-term goal of the project is to promote large-scale adoption of Web3 through offline activities and committed to using a portion of the proceeds for charitable purposes, having already allocated 20% of the event profits to charity. They also stated that they will continue to focus on product, community, and compliance building, promoting the integration of on-chain entertainment with the real world.

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