Backpack founder responds to FUD: Modern coins were not traded over-the-counter According to BlockBeats, on March 27th, Backpack founder Armani Ferrante responded to FUD on social media by stating, "Every TGE triggers emotional fluctuations because people are too focused on token prices. I would like to clarify the facts regarding several issues that have arisen in the past few days and share my views: ·OTC: We did not cash out our tokens through over-the-counter (OTC) trading, this is fake news. The real situation is that the buyer actively contacted me to seek OTC, and we helped them obtain more tokens. Due to the fact that other projects have historically used OTC cash out, the community misunderstood our behavior. ·Mad Ladies: Former TGE holders retain their Backpack VIP status, while new holders do not enjoy this treatment. The development of Mad Lads has always been synchronized with Backpack, focusing on long-term holders rather than short-term speculators at each stage. New holders may have different perceptions and conflicts, but we always adhere to a long-term vision to drive the development of Backpack. ·Sybills: Our goal is to protect retail users and prevent unfair advantages obtained through account splitting. Our execution was too simplistic and did not fully consider the complex perspectives of the community, which was our mistake. ·Price/FDV: Short term price or FDV (fully diluted valuation) after TGE is meaningless. The team focuses on long-term development of the Backpack and ensures long-term success through extreme token economy incentives. If the token price returns to zero and the company fails, we will gain nothing. Our rewards come only from genuine long-term success, not short-term price fluctuations