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Backpack TGE Distribution: 24% to Points Participants, 1% to Mad Lads
Backpack will distribute 25% of its total token supply on TGE day. Of that allocation, 24% is allocated to Backpack points participants and 1% is allocated to Mad Lads NFT holders. The remaining 75% of the supply is structured to support long-term platform growth and global expansion.
This article serves as the official record of what Backpack has confirmed about the Token Generation Event and what remains to be announced. Information here reflects what has been publicly shared to date and will be updated as additional details are confirmed.
25% Token Distribution Breakdown
One element of Backpack’s Token Generation Event has been confirmed in advance.
On TGE day, 25% of the total token supply will be distributed.
This initial allocation is structured as follows:
- 24% to Backpack points participants, reflecting sustained engagement with the platform
- 1% to Mad Lads NFT holders, recognizing their role within the broader Backpack ecosystem
The remaining 75% of the token supply is designed to support ecosystem development, product expansion, and geographic growth over the long term. Additional details around future allocations will be shared progressively, with full clarity provided at the Token Generation Event.
No Token Sales: A Different Approach
To eliminate any ambiguity:
Backpack has never sold a single token.
There was no private sale. There is no public sale. There will be no presale.
The entire token supply is designed to support the long-term growth of Backpack as a global financial platform. Distribution happens through participation and contribution, not through capital raises.
Any claims of token presales or early access opportunities should be considered fraudulent.
Why Full Tokenomics Aren't Released Yet
Most token launches publish complete allocation breakdowns months before distribution. Backpack has chosen a more deliberate path.
Tokenomics will be shared in stages as the Token Generation Event approaches. This ensures that information is accurate, actionable, and aligned with the actual state of the platform, not assumptions made months in advance.
This approach maintains flexibility as Backpack evolves. Token design should reflect real usage, real participation, and real growth.
Details related to eligibility criteria, conversion rates, and individual allocations will be finalized and communicated at TGE. Until then, any interpretations outside official Backpack channels should be considered speculative.
The Backpack Points Program
Backpack operates a Points program that rewards platform activity. Here's how it works:
- Points are earned through trading. Users accumulate Points based on their spot and perpetual futures trading volume on Backpack Exchange. Points are calculated and rankings are updated weekly.
- The ranking system has six tiers. Users are placed into Bronze, Silver, Gold, Platinum, Diamond, or Challenger tiers based on their relative Points standing.
- The program operates in seasons. As of January 2026, the Points program is in Season 4. Previous seasons have included snapshots of user activity.
- The relationship between Points and the upcoming token has not been officially detailed. Users should not assume any specific conversion rate or guaranteed allocation based on Points earned.
About Backpack Exchange
Backpack is a regulated cryptocurrency exchange that has been operational since February 2024. Key facts about the platform:
- Trading volume. The platform has processed over $160 billion in cumulative trading volume since launch.
- Global reach. Backpack currently serves users in over 150 countries and regions, representing approximately 48% of the global market. The team has stated plans to expand access over the next year.
- Regulatory licenses. Backpack holds a Virtual Asset Service Provider (VASP) license from VARA in Dubai. In January 2025, Backpack acquired FTX EU and its MiFID II license from the Cyprus Securities and Exchange Commission (CySEC), enabling regulated derivatives trading in the European Union.
- Products. The platform offers spot trading, perpetual futures, and lending services. A partnership with Superstate will bring SEC-registered tokenized equities to the platform, with supported assets and launch timing to be announced.
Mad Lads and the Backpack Ecosystem
Mad Lads is a collection of 10,000 NFTs on the Solana blockchain, created by Coral—the same team behind Backpack. The collection launched on April 20, 2023.
- What Mad Lads holders receive today. Holding a Mad Lad NFT grants automatic VIP 1 status on Backpack Exchange, which provides reduced trading fees.
- Past ecosystem distributions. Mad Lads holders have historically been included in airdrops from other Solana ecosystem projects, including Wormhole, Tensor, and io.net. These were decisions made by those respective projects.
- No confirmed token allocation for Mad Lads. Backpack has not announced any specific token allocation for Mad Lads holders related to the upcoming TGE. Any claims about guaranteed allocations are speculation.
Backpack's Approach
The team has emphasized several principles guiding the token launch:
- Product before token. CEO Armani Ferrante has stated:
"First product. Then token."
The exchange operated for nearly two years before announcing token plans. - No token sales. Unlike most crypto projects, Backpack raised capital through traditional equity funding rounds rather than token sales. The company has raised $37 million from investors including Placeholder VC, Hashed, Delphi Digital, and others.
- Regulatory compliance. Backpack has pursued licenses in multiple jurisdictions rather than operating in regulatory gray areas. This includes completing the return of funds to former FTX EU customers before launching any EU products.
What Happens at TGE
The Token Generation Event will provide clarity on questions that cannot be finalized today.
At TGE, users will be able to see:
- How their participation translates into specific allocations
- How the token functions within the Backpack ecosystem
- Technical documentation and implementation details
- Official documentation and guidance on next steps
Until then, Backpack remains focused on building reliable infrastructure, expanding global access, and delivering products designed for long-term use.
Conclusion
Backpack’s Token Generation Event represents an important step in the platform’s long-term development.
With 25% of the token supply distributed on TGE day, including allocations to points participants and Mad Lads NFT holders, the focus is on meaningful community participation rather than short-term dynamics.
Further details will be shared at the Token Generation Event itself. Until then, Backpack remains focused on building reliable infrastructure, expanding global access, and supporting a growing ecosystem designed for long-term use.
How to Stay Informed
For official updates on the Backpack token and TGE:
- Follow Backpack on X (Twitter): @Backpack
- Visit the official website: backpack.exchange
- Check the Backpack blog for announcements
- Be cautious of unofficial sources claiming insider information about allocations, dates, or tokenomics. Official information will only come from verified Backpack channels.
Important Notice: This article reflects information that has been publicly announced by the Backpack team as of the publication date. Token distribution details, timelines, and features are subject to change. Nothing in this article should be interpreted as a guarantee of token allocation or financial return. Participation in the Points program or ownership of Mad Lads NFTs does not guarantee any specific benefit related to the TGE. Always verify information through official sources before making decisions.