TechFlow News, February 9: According to Armani Ferrante, CEO of Backpack, Backpack’s tokenomics will adhere to two core principles: insiders cannot “dump tokens on retail investors,” and all liquid tokens will be allocated to users. Ferrante stated that founders, executives, employees, and venture investors have not received direct token allocations; all team tokens are held in the company treasury and locked for at least one year post-IPO. Team members hold only equity in the company and can profit from the project only after a successful public listing. Backpack plans to go public in the U.S.; meanwhile, its exchange is progressively expanding into additional regions and launching more products—including traditional financial services and securities products—unlocking tokens for users in a predictable manner with each new regional launch or product rollout, thereby driving platform growth.
Earlier news: Backpack unveiled its token distribution plan, with 25% of tokens released at the Token Generation Event (TGE), of which 24% are allocated to points holders.
