Backpack founder outlines extreme tokenomics with no insider allocation

Backpack founder and CEO Armani Ferrante has a pitch most crypto founders would never make: the team gets no tokens. Not a reduced share. Not a long vesting schedule. None. Ferrante calls the exchange’s tokenomics the most extreme ever. He also criticized the token warrants that usually hand founders and investors a large slice of supply. How the Backpack token is split Backpack disclosed the framework on February 9, 2026. The token has a total supply of 1 billion. A quarter of that supply, or 250 million tokens, was allocated at the Token Generation Event (TGE). Of those 250 million, 240 million went to points participants. Those are users who earned rewards by using the platform. The other 10 million went to holders of Mad Lads, the NFT collection linked to the Backpack ecosystem. The remaining 75% is divided into two tranches of 37.5% each. The first is a pre-IPO tranche of 375 million tokens. These unlock gradually as the company hits growth milestones, such as regulatory progress and new product launches. The second tranche is tied to a potential US IPO. Those tokens sit in the corporate treasury and stay locked for at least one year after any such listing. The token itself la...