Backpack is a Web3 company focused on crypto infrastructure, founded by Solana ecosystem developer Armani Ferrante and former FTX head of legal Can Sun, among others. The project initially started with a multi-chain self-custody wallet and gradually expanded into a comprehensive platform that includes Backpack Wallet, Backpack Exchange, and the Mad Lads NFT ecosystem. Backpack Wallet supports multi-chain asset management, NFT management, and DeFi interactions, and introduced the concept of xNFT (Executable NFT), allowing applications to run directly within the wallet. At the same time, the team launched the regulated crypto exchange Backpack Exchange, offering spot and derivatives trading services and obtaining a virtual asset service provider license in Dubai. The project has raised approximately $37 million in funding and is positioned as an integrated crypto platform connecting wallets, exchanges, and application ecosystems, aiming to create a Web3 user entry point that combines asset management, trading, and application distribution.
1. Clear market positioning, belonging to the next-generation trading platform infrastructure. Backpack Exchange is positioned as a comprehensive platform of "Wallet - Exchange - xNFT Application Ecosystem," focusing on an integrated Web3 account system combining trading, asset management, and applications. The project originally emerged from the Solana ecosystem, has a solid community foundation, and is gradually expanding to multi-chain asset management and trading.
2. Capital and ecosystem backing: A total of $37 million has been raised, with investors including leading institutions such as Jump Crypto, Delphi Digital, Amber Group, and others. The project has strong financial strength and high capitalization attention.
3. Regulatory compliance and licensing advantages: It has obtained a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority (VARA) and is advancing European derivative licenses and MiFID II-related compliance. In the current tightening regulatory environment, compliance capabilities are favorable for long-term development.
4. Strong team background, with core members possessing experience in leading exchanges and infrastructure. Founder Armani Ferrante is one of Solana’s core developers and has developed key infrastructure such as the Anchor framework. Co-founder Tristan Yver previously worked at FTX, with experience in exchange products and operations.
1. User incentives and airdrop rewards. These are used to reward Backpack platform users (such as trading users and Points program participants). At the time of the TGE, 25% of the tokens will be allocated to Points users and Mad Lads NFT holders.
2. Platform ecosystem incentives and growth binding. A further 37.5% of the tokens will be gradually released before the IPO according to platform growth milestones (such as product launch, regulatory approval, etc.), continuing to be distributed to users to promote the development of the platform ecosystem.
3. Staking to obtain company equity (core mechanism). If users stake tokens for at least 1 year, they can exchange them for company equity at a fixed ratio, corresponding to up to approximately 20% of company shares, directly binding token holders to the long-term value of the platform.
The total supply of BP tokens is 1,000,000,000 BP, 1 billion coins, with about 25% in circulation at launch. The specific allocation is as follows:
1. TGE User Allocation: 25% (250 million), fully released at TGE
(1) Points Plan Users: 240 million, 24%
(2) Mad Lads NFT Holders: 10 million, 1%
2. Pre-IPO User Release: 37.5% (375 million), gradually released according to growth milestones.
3. Post-IPO Company Treasury: 37.5% (375 million), locked for at least 1 year after IPO, and can be used according to company development plans thereafter.
There have been two rounds of financing, totaling 37 million USD. In February 2024, a Series A round of 17 million USD was completed, with investors including Hashed, Robot Ventures, Amber Group, Wintermute, Selini Capital, Delphi Digital, and others. In September 2022, a strategic round of 20 million USD was completed, with investors including Jump Crypto, Multicoin Capital, FTX Ventures, K5 Global, Anagram, and others.
The partial release of Backpack tokens is linked to milestones such as future IPOs and regulatory approvals. This model is relatively uncommon in the crypto industry, and there is considerable uncertainty regarding the actual implementation progress and timing. In the centralized exchange sector, several leading platforms already occupy the main market share, making it difficult for new exchanges to acquire liquidity and users.
Project Name：Backpack
Token: BP
Total token issuance：10亿
Token issuance time：2026/3/23
Total Circulation of Shidai Coin：约25%
Sector：CEX
Project Official Website：https://backpack.exchange/
Contract Address (Explorer)：https://solscan.io/token/BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy
Social media：
Twitter：https://x.com/Backpack，315.4K Followers
Discord: https://discord.com/invite/backpack ，62,847 members
Backpack is a Web3 company focused on crypto infrastructure, founded by Solana ecosystem developer Armani Ferrante and former FTX head of legal Can Sun, among others. The project initially started with a multi-chain self-custody wallet and gradually expanded into a comprehensive platform that includes Backpack Wallet, Backpack Exchange, and the Mad Lads NFT ecosystem. Backpack Wallet supports multi-chain asset management, NFT management, and DeFi interactions, and introduced the concept of xNFT (Executable NFT), allowing applications to run directly within the wallet. At the same time, the team launched the regulated crypto exchange Backpack Exchange, offering spot and derivatives trading services and obtaining a virtual asset service provider license in Dubai. The project has raised approximately $37 million in funding and is positioned as an integrated crypto platform connecting wallets, exchanges, and application ecosystems, aiming to create a Web3 user entry point that combines asset management, trading, and application distribution.
1. Clear market positioning, belonging to the next-generation trading platform infrastructure. Backpack Exchange is positioned as a comprehensive platform of "Wallet - Exchange - xNFT Application Ecosystem," focusing on an integrated Web3 account system combining trading, asset management, and applications. The project originally emerged from the Solana ecosystem, has a solid community foundation, and is gradually expanding to multi-chain asset management and trading.
2. Capital and ecosystem backing: A total of $37 million has been raised, with investors including leading institutions such as Jump Crypto, Delphi Digital, Amber Group, and others. The project has strong financial strength and high capitalization attention.
3. Regulatory compliance and licensing advantages: It has obtained a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority (VARA) and is advancing European derivative licenses and MiFID II-related compliance. In the current tightening regulatory environment, compliance capabilities are favorable for long-term development.
4. Strong team background, with core members possessing experience in leading exchanges and infrastructure. Founder Armani Ferrante is one of Solana’s core developers and has developed key infrastructure such as the Anchor framework. Co-founder Tristan Yver previously worked at FTX, with experience in exchange products and operations.
1. User incentives and airdrop rewards. These are used to reward Backpack platform users (such as trading users and Points program participants). At the time of the TGE, 25% of the tokens will be allocated to Points users and Mad Lads NFT holders.
2. Platform ecosystem incentives and growth binding. A further 37.5% of the tokens will be gradually released before the IPO according to platform growth milestones (such as product launch, regulatory approval, etc.), continuing to be distributed to users to promote the development of the platform ecosystem.
3. Staking to obtain company equity (core mechanism). If users stake tokens for at least 1 year, they can exchange them for company equity at a fixed ratio, corresponding to up to approximately 20% of company shares, directly binding token holders to the long-term value of the platform.
The total supply of BP tokens is 1,000,000,000 BP, 1 billion coins, with about 25% in circulation at launch. The specific allocation is as follows:
1. TGE User Allocation: 25% (250 million), fully released at TGE
(1) Points Plan Users: 240 million, 24%
(2) Mad Lads NFT Holders: 10 million, 1%
2. Pre-IPO User Release: 37.5% (375 million), gradually released according to growth milestones.
3. Post-IPO Company Treasury: 37.5% (375 million), locked for at least 1 year after IPO, and can be used according to company development plans thereafter.
There have been two rounds of financing, totaling 37 million USD. In February 2024, a Series A round of 17 million USD was completed, with investors including Hashed, Robot Ventures, Amber Group, Wintermute, Selini Capital, Delphi Digital, and others. In September 2022, a strategic round of 20 million USD was completed, with investors including Jump Crypto, Multicoin Capital, FTX Ventures, K5 Global, Anagram, and others.
The partial release of Backpack tokens is linked to milestones such as future IPOs and regulatory approvals. This model is relatively uncommon in the crypto industry, and there is considerable uncertainty regarding the actual implementation progress and timing. In the centralized exchange sector, several leading platforms already occupy the main market share, making it difficult for new exchanges to acquire liquidity and users.
Project Name：Backpack
Token: BP
Total token issuance：10亿
Token issuance time：2026/3/23
Total Circulation of Shidai Coin：约25%
Sector：CEX
Project Official Website：https://backpack.exchange/
Contract Address (Explorer)：https://solscan.io/token/BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy
Social media：
Twitter：https://x.com/Backpack，315.4K Followers
Discord: https://discord.com/invite/backpack ，62,847 members