Recently went back and reviewed @Backpack's updates over the past few months, and suddenly it clicked why BP launching is just the beginning. For many platforms, the story basically ends after they issue a token. But for Backpack, it’s the opposite—after launching BP, they’ve been going crazy building out products: Exchange, Wallet, real U.S. stocks, ETFs, Perps, Lending, Tokenized Stocks… Now even stocks can share the same capital system with crypto. Stocks can be traded, used as collateral, and USD can generate yield. Looking at BP again, the official design now is that after staking BP for at least 1 year, you’ll have the right to convert BP into Backpack equity during an IPO or acquisition. The token supply release is also tied to real milestones like product development, regulation, and market growth. So now I’m more inclined to see Backpack as a fast-growing fintech company. What you see today is an exchange and brokerage. As they keep moving forward, it could evolve into Wallet, Securities, DeFi, and global market access all merging into one. To put it simply, what Backpack is trying to solve is becoming clearer: Whatever you want to buy, however you want to trade, it all gets done in one account. The real thing worth watching about BP is just how big this company can become.