Backpack founder: Team token distribution will only be unlocked after the company goes public on the US stock market, eliminating the dumping of tokens to retail investors BlockBeats news, on February 9th, Backpack founder Armani Ferrante posted on social media stating: In the token economy model of Backpack, it follows a core principle of eliminating "insider dumping into retail investors". Before the product achieves' escape velocity ', no founder, executive, employee, or venture capitalist should acquire wealth through tokens. For Backpack, the answer to 'escape velocity' is very clear. Backpack hopes to conduct an initial public offering (IPO) in the United States. Listing may be quick, it may not be so fast, and it may not even happen in the end. But regardless, the team is working hard towards it. Whenever Backpack expands into a new region and launches a new product, it is always an opportunity for growth. Opening up the European Union, opening up Japan, opening up the United States, launching predictive markets, launching stock trading, and launching card services will all achieve growth. Tokens are like adding fuel to a fire, their function is to continuously ignite new markets, just like the points system did in previous seasons. To run successfully, there is a clear goal constraint, which is that "the growth value brought by the release of new tokens must always be greater than the dilution effect caused by the release For this reason, no founder, executive, team member, or venture capitalist will be directly allocated tokens. The entire 'team allocation' section is stored in the 'company treasury', which is recorded on Backpack's balance sheet - with a lock up period lasting at least one year after the IPO. The team holds equity in the company, while the company holds a significant portion of the total token supply. The team can only gain any wealth from this project after the company goes public (or other types of equity exit events occur). Either achieve great things or have nothing, "Armani Ferrante said.