[Backpack CEO: Team tokens are stored in the company treasury, locked for one year post-IPO] Backpack CEO Armani Ferrante stated in a post that within Backpack's tokenomics, there is a guiding principle: it is impossible for insiders to 'sell off to retail investors.' No founder, executive, employee, or venture capitalist should profit from tokens before the product reaches 'escape velocity.' For Backpack, 'escape velocity' means going public in the U.S. The listing could happen soon, or it might take longer, or it might never happen at all. Regardless, the team will give it their all. All 'team allocations' are stored in the 'company treasury,' which is essentially on Backpack's balance sheet—and they are locked for at least one year post-IPO. The team holds equity in the company, while the company holds the majority of the token supply. Only after the company goes public (or in the event of another type of equity exit) can the team derive any benefits from the project. Previously, it was reported that Backpack disclosed its tokenomics: 25% of tokens will be released at TGE, with 24% allocated to point holders.