How to Claim Your $BP Allocation on Backpack Exchange

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If you've been part of the Backpack ecosystem, you may have a $BP allocation waiting for you. Here's everything you need to know about checking your eligibility, claiming your tokens, and understanding what comes next.

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Step 1: Check Your BP Allocation

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Log in to your Backpack account on desktop web, then visit backpack.exchange/bp-claim to see if you have any $BP allocated to your account.
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If you haven't already, connect your MadLad to receive 1,000 $BP allocation per Lad. The MadLad must be linked by the wallet that held it at the time of snapshot.

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What Happens After You Claim

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Once you claim your BP, you'll see a message explaining the staking mechanics:
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Your initial BP allocation is automatically staked. If you want to unstake, you have a one-week window after launch to do so instantly. After that first week, unstaking requires a 7-day waiting period.

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This design rewards long-term participants while still giving everyone flexibility to access their tokens if needed.

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Understanding the BP Staking Dashboard

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After claiming, click View Staked Tokens to access your dashboard at backpack.exchange/bp.
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The interface displays your current position across three categories: available BP balance, staked balance, and any tokens pending unstake. It also shows your share of the reserved equity pool, which is fully allocated for participants who stake. Without staking, you won't have access to this pool.

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Benefits of Staking BP

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The Backpack Participant Program operates as a tiered incentive system. The more BP you stake and the longer you hold, the more benefits you unlock.

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Active benefits include:

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• Reduced trading fees that improve as you move up tiers
  
  
• Discounted or free wire transfers for fiat on/off ramping
  
  
• Equity exchange access, allowing you to use staked BP toward purchasing Backpack equity
  
  
• Enhanced yield on USD collateral (coming soon)
  
  

Upcoming benefits:

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• Early access to the Backpack card
  
  
• Lower fees on prediction markets
  
  
• Priority access to IPOs before public trading
  
  
• Enhanced wallet benefits for self-custody users
  
  

The Backpack Participant Program is designed to reward active users across trading, payments, equity participation, and future product launches. Staking your BP positions you to access reduced costs and exclusive opportunities as the ecosystem expands.

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Frequently Asked Questions

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How do I check if I have a BP allocation?

Log in to your Backpack account on desktop and visit backpack.exchange/bp-claim. Your allocation, if any, will be displayed there.

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I hold MadLads — how do I claim my BP?

Connect the wallet that held your MadLad at the time of the snapshot to your Backpack account on the bp-claim page. Each MadLad entitles you to 1,000 $BP. The Madlads must be linked by the wallet that held it at the time of snapshot — transferring after the snapshot does not transfer the allocation.

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Is my BP automatically staked after claiming?

Yes. Your initial BP allocation is automatically staked when you claim. You have a one-week window after launch to unstake instantly. After that, unstaking requires a 7-day waiting period.

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What happens if I unstake my BP?

Unstaking resets the equity purchase eligibility for that stake.

If you only want to unstake part of it, use split. This creates two positions with the same start date and progress, so you can unstake one portion without affecting the other.

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Where can I see my staked BP and equity share?

After claiming, visit backpack.exchange/bp to view your staking dashboard, including available balance, staked balance, pending unstake, and your equity pool share.

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Can I stake more BP after the initial claim?

Yes. Any BP you acquire through trading or other means can be staked on the same dashboard to increase your tier and equity share.

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Do I need to do anything to earn staking benefits?

No. Benefits like reduced trading fees and equity access are applied automatically based on your staked balance and tier. Just stake and trade as normal.

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Disclaimer: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Backpack is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice.