Backpack CEO: All team tokens are held in the company vault, and token release will be entirely linked to product growth.

Backpack CEO Armani Ferrante stated in an article on the X platform that the core principle of Backpack's token economic model is to avoid "insider dumping on retail investors." By design, founders, executives, employees, and venture capitalists should not receive wealth returns through tokens before the product achieves key growth milestones. Backpack currently defines "achieving escape velocity" as achieving its US IPO goal. The IPO may be achieved quickly, slowly, or even impossible, but it will remain a long-term strategic direction. Regarding growth strategy, Backpack Exchange currently only covers approximately 48% of the global market. The company chooses to gradually open up regional markets with a compliance-first approach, including building global banking channels, US dollar customer funding accounts, localized Euro and Japanese Yen funding systems, and expanding its securities and traditional financial product capabilities, aiming to serve both retail users and compliant institutional clients. Regarding the token distribution mechanism, Backpack stated that circulating tokens will be primarily allocated to users and linked to key product and market expansion milestones, such as opening new regions and launching new products, to drive user growth and ecosystem expansion. The company emphasizes that the growth value generated by newly released tokens must consistently outweigh the potential dilution effect. Furthermore, Backpack stated that it has not directly distributed tokens to the team or investors. The team's share will be held in the company's corporate treasury and locked up for at least one year after the IPO. The team is primarily incentivized through holding company equity, while the company holds a significant proportion of the token supply. Its long-term goal is to build a comprehensive financial platform integrating crypto and traditional finance globally.