Backpack Founder: No OTC Cash-Out, Witch Cases Under Review

AirdropBlackHole · 2026-03-28T05:09:01+00:00

Armani Ferrante, founder of Backpack, addressed community concerns on Twitter, clarifying points about OTC trading, Mad Lads benefits, and the witch review. He emphasized long-term user incentives, the complexity of community dynamics, and the team's vested interest in token success.

AirdropBlackHole

2026-03-28 05:09:01

Abstract generation in progress

March 27th News: Backpack founder Armani Ferrante took to Twitter to address recent community FUD, clarifying topics such as OTC trading, Mad Lads benefits, witch review, and token prices. Armani stated that the team has not cashed out through OTC, and his previous remarks about OTC were solely to help buyers find tokens. Regarding Mad Lads, holders before the TGE will retain Backpack VIP status, while new holders will not. This design aims to incentivize users who have a long-term focus on the product.

Concerning the witch review, he admitted that the team’s previous approach was too mechanical (black and white) and did not fully consider the complexity of community dimensions. The team is currently re-examining relevant cases. Furthermore, Armani emphasized that short-term FDV is not a core metric, as the team’s interests are deeply tied to the success of the token. If the token price goes to zero, the team will not be able to profit. The team is currently continuing to advance the witch case review and return to development work.

MAD4.63%

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