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Final Statement on @MacnBTC & SAVM
SAVM was a massive IDO. It’s unfortunate that a notable competing launchpad spread misinformation and created a dispute.
We met the SAVM team yesterday and they recognized they were presented false sources, especially via DMs from the team of a specific competitor. In addition:
- SAVM team showed clear evidence they did not snipe LP + did not sell tokens
- Mac is not the SAVM founder and did not sell any SAVM
- Mac was an investor in ROOM, did not have anything else to do with it
We applaud the team for trying to run a pure on-chain launch. It has many challenges and that opened them to criticism, allowing both our and their competitors to attack.
Statements we’ve made against Mac were taken out of context. He has committed with pure intentions to advising SAVM with marketing. Similarly, SAVM team has true intentions to build a roll-up on BTC. While the technology may be challenging to execute, the critics are competitors of SAVM.
Moving ahead. It’s clear the SAVM team is genuinely committed to building this and Mac as advisor was always acting with good intentions. Mac was celebrating IDO success and not liquidations in the screenshot, that was a miscommunication on our side.
Unfortunately, our pure growth focus led us to outsource a lot of the dev management. This was a clear mistake, as our outsourced dev house took advantage of our trust. We sold 0 SAVM tokens from our fee and in fact handed them without questions to SAVM team.
Mac and the SAVM team have been presented with evidence that the Ape Terminal core team did not exploit the IDO but rather the outsourced dev house. We are exploring action against them, with Mac.
We clear all accusations against @Macnbtc and the SatoshiVM team.
Moving ahead, all dev elements will be internalized. We recognize this is critically important. Also, we have a technical overhaul coming up, implementing the highest bar of transparency measures in the industry. Details revealed later today.
This will prevent any competitors from capitalizing on our reputation for their benefit. Details on these initiatives in a separate post.