Odaily Planet News: Backpack posted on X, stating that 25% of the tokens will be distributed on the TGE day, with 24% allocated to points users and 1% to the MadLads community.
Armani Ferrante, CEO of Backpack, added in a post on X: "As we approach the Token Generation Event (TGE), we will gradually disclose our token economic model. At this point, it's still uncertain whether the term 'token' is appropriate to describe our TGE. It will take the form of a token, but its core will be entirely different from existing models — the distribution mechanism will be different, the use cases will be different, and even the functional design will be different. In fact, the differences may be so significant that it might require a completely new name — but let's discuss that topic another day."