Backpack Announces Token Allocation Plan, 25% to Be Released at TGE

Backpack announced its token allocation plan, which is divided into three phases. At the TGE, 25% of the token supply will be released, totaling 250 million tokens, of which 240 million (24%) will be allocated to point holders and 10 million (1%) to Mad Lads holders. The second phase of the token allocation, before the IPO, accounts for 37.5%, or 375 million tokens, which will be released as "growth-triggered unlocks" based on the achievement of key milestones. The third phase is after the IPO, also accounting for 37.5%, and these tokens will be placed into the company's treasury with a lock-up period of one year after the IPO. The total token supply is 1 billion, and the total supply before the IPO is 625 million (62.5%). Backpack stated that the tokens in the company's treasury will serve as a strategic digital asset reserve for long-term value creation, and team members and investors will gain token exposure through the company's treasury.