Backpack Releases Token Distribution Plan: TGE to Release 25% of Tokens

Odaily News Backpack has announced its token distribution plan. The total token supply is 1 billion, with a pre-IPO total supply of 625 million tokens (accounting for 62.5%), divided into three phases. The TGE will release 25% of the total token supply, amounting to 250 million tokens. Of these, 240 million (24%) are allocated to points holders, and 10 million (1%) are allocated to Mad Lads holders.

The second phase of token distribution is pre-IPO, accounting for 37.5%, or 375 million tokens. These will be unlocked as "growth triggers," released gradually based on the achievement of key milestones. The third phase is post-IPO, also accounting for 37.5%. These tokens will be deposited into the company treasury with a one-year lock-up period following the IPO.