The Token Tumble: Backpack’s Grand Giveaway and Other Peculiarities

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Key Highlights

  • In a daring move, Backpack will unleash 25% of its tokens during the great TGE, granting a generous 24% to those illustrious Points users and a mere 1% to the esteemed holders of Mad Lads NFTs-an exclusive club indeed!
  • Fear not, for there shall be no token sales or presales; distribution is reserved solely for the brave souls who participate in this grand venture.
  • The remaining 75% of tokens, like a well-guarded treasure, will serve to puff up the platform’s growth, reach pre-IPO milestones, and then sit pretty in the post-IPO treasury.

Oh, the illustrious Backpack, hailing from the sun-kissed lands of Dubai, has made quite the announcement regarding its token release at the fabled Token Generation Event (TGE). What a spectacle it shall be!

In a burst of excitement on X-a platform where brevity reigns supreme-the exchange proclaimed that a dazzling 25% of its total token supply would soon be set free, marking the inaugural moment Backpack tokens find their way into the eager hands of actual users and holders. This grand event is but a piece of a masterfully crafted token distribution plot, aimed at nourishing both the current cohort of participants and the future expansion of Backpack’s ambitious global financial empire.

25% on TGE

Behold the magnificent token distribution

Utility arriving shortly 🎒

– Backpack 🎒 (@Backpack) February 9, 2026

From the magical stash of 1 billion tokens, 250 million are destined for the TGE spectacle. Of these, a staggering 240 million tokens (that’s 24% for those counting) will grace the accounts of users who have garnered those coveted Backpack Points, earned through the noble art of trading. The true champions of activity and engagement shall be rewarded!

Meanwhile, a paltry 10 million tokens (a modest 1%) are earmarked for the distinguished owners of Mad Lads NFTs-those peculiar digital baubles associated with Backpack. This allocation is meant to sprinkle a bit of joy for both the active traders and the NFT aficionados amongst us.

NFT and Token Distribution Details

However, dear readers, do brace yourselves! Backpack has yet to unveil any promises of further token allocations beyond the tantalizing 1% at TGE. The exchange ominously warns that any claims of guaranteed future tokens are mere shadows dancing in the minds of wishful thinkers.

In its blog post, the exchange was as clear as a summer’s day: no token has been sold yet! No secretive private sales or clandestine presales-oh no! All tokens are to be distributed through participation and contribution, rather than through the jingle of coins. Any whispers of early access or presales are simply the fabrications of those with too much time on their hands.

How Tokens Will Be Released

Ah, the grand design of Backpack’s token distribution unfolds in three splendid phases:

  • The initial phase is the TGE release of 25%, a veritable feast for the eyes.
  • The second phase, pre-IPO, shall gradually unlock 37.5% of tokens as Backpack achieves its lofty growth milestones-like a proud peacock strutting its feathers!
  • The final phase, post-IPO, will see another 37.5% of tokens held securely in the company treasury, locked away for a year like a precious heirloom.

Additionally, Backpack has introduced a Points program where users can earn points through the noble endeavors of trading in both spot and futures markets. These points, updated weekly, are segmented into six glorious tiers: Bronze, Silver, Gold, Platinum, Diamond, and the illustrious Challenger. Presently, we find ourselves in Season 4. Yet, alas! The exchange has been tight-lipped regarding how these points might magically transform into token rewards, leaving us all in a state of delightful suspense.

Broader Context

Backpack’s grand token launch takes a path less traveled compared to its crypto compatriots. Instead of diving headfirst into early token sales, the exchange has bided its time, waiting patiently until its product is fully operational and bustling with activity.

With an unwavering focus on building its product and attracting a multitude of users, Backpack has even secured the necessary licenses before unfurling its token banner. According to its blog post, it boasts licenses in regions including VARA in Dubai and MiFID II in Europe. Moreover, they gallantly returned funds to former FTX EU customers before embarking on this new adventure.

As a feather in its cap, the exchange has processed over $160 billion in trading volume, served users across more than 150 countries, and plans to dive into the enticing waters of tokenized stocks and lending before long.

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2026-02-09 20:36