[Backpack CEO: All Team Tokens Are Stored in the Company Treasury, Token Release Will Be Fully Tied to Product Growth] Odaily Planet Daily News – Backpack CEO Armani Ferrante posted on the X platform, stating that the core principle of Backpack's tokenomics model is to avoid 'insiders dumping on retail investors.' By design, founders, executives, employees, and venture capitalists should not gain financial rewards through tokens before the product achieves key growth milestones. Backpack currently defines 'reaching escape velocity' as achieving the goal of a U.S. IPO. The IPO may happen quickly, slowly, or may not happen at all, but it remains the long-term strategic direction. In terms of growth strategy, Backpack Exchange currently covers only about 48% of the global market. The company has chosen a compliance-first approach to gradually open regional markets, including building global banking channels, U.S. dollar client fund accounts, localized funding systems for euros and yen, and expanding capabilities in securities and traditional financial products. The goal is to serve both retail users and compliant institutional clients. Regarding the token distribution mechanism, Backpack stated that circulating tokens will primarily be allocated to users and tied to key product and market expansion milestones, such as opening new regions or launching new products, to drive user growth and ecosystem expansion. The company emphasized that the growth value brought by the release of new tokens must consistently outweigh the potential dilution impact. Additionally, Backpack stated that no tokens have been directly allocated to the team or investors. Team-related shares will be stored in the company treasury and locked for at least one year after the IPO. The team’s long-term incentives will primarily come from holding company equity. At the company level, a significant proportion of token supply is held, with the long-term goal of building a comprehensive financial platform that integrates crypto and traditional finance on a global scale.