RaveDAO denies manipulating RAVE price: Plans to introduce a lock-up mechanism and sell tokens as planned for operational purposes.

On April 18th, CoinFeed reported that RaveDAO responded to recent rumors of market manipulation surrounding the RAVE token in a statement on the X platform, clarifying that the team was neither involved nor responsible for recent price fluctuations. RaveDAO stated that it will explore token lock-up mechanisms based on price or performance to align team incentives with ecosystem growth. Simultaneously, the team plans to sell a portion of unlocked tokens at an appropriate time according to the established TRS mechanism, using the proceeds for operational, recruitment, marketing, and strategic investment expenditures. RaveDAO emphasized that the project's long-term goal is to promote the large-scale adoption of Web3 through offline activities and pledged to use a portion of the proceeds for charitable purposes. Currently, 20% of the activity profits have been donated to charity. The project also stated that it will continue to focus on product, community, and compliance development, promoting the integration of on-chain entertainment with the real world.