Backpack (BP)
Unlock Schedule
Backpack (BP) Token Unlock & Vesting Schedule
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Supply and distribution
BP has a total supply of one billion tokens. Backpack divided that supply into three phases: (learn.backpack.exchange)
- 25% at launch: 240 million BP went to Backpack Points participants, and 10 million went to Mad Lads holders.
- 37.5% before a possible IPO: 375 million BP is set aside for releases tied to platform growth milestones, with each released portion allocated to users.
- 37.5% after a possible IPO: 375 million BP is assigned to a corporate treasury and locked until one year after an IPO. (learn.backpack.exchange)
The planned pre-IPO releases are tied to progress such as new products, regulatory steps, and broader access, rather than a simple calendar. Backpack lists no direct BP allocation for founders, employees, or investors. Investors’ connection to the project comes through company ownership, while the token plan directs pre-IPO releases to users. (learn.backpack.exchange)
BP’s practical uses include access to lower spot and futures trading fees and discounts on eligible bank transfers. Backpack also describes wallet swap-fee benefits and additional USD lending yield for qualifying tiers. The Participant Program offers certain users priority access to new products and distributions. The size of a stake, how long it remains staked, a user’s location, and the rules for each benefit all shape what a participant can access. (backpack.exchange)
A distinctive part of the program concerns company equity. After at least one year of staking, an eligible participant can build a right under a separate program to exchange BP for Backpack shares at an IPO or acquisition. Backpack says the reserved share pool equaled 20% of company equity when the program was announced and the token launched; the pool is fixed in shares, so its percentage can change if more shares are issued. The equity program has its own eligibility and participation terms. (support.backpack.exchange)
Assumptions
BP has a fixed supply of 1 billion tokens, launched on Solana on 23 March 2026. 250 million (25%) were airdropped at launch to Backpack Points holders (240 million) and Mad Lads NFT holders (10 million), and there are no allocations to the team or investors. Another 375 million are to be unlocked for users in steps when unpublished regulatory, product and market milestones are met, and 375 million sit in a corporate treasury locked until one year after a possible IPO; neither has a date, so they are listed but not charted. The chart shows only the launch-day creation and airdrop unlock, which are directly sourced; the launch date for the full supply is based on official supply figures rather than an inspected mint transaction.
- Pre-IPO growth-triggered unlocks (users): Releases depend on recipients claiming tokens or on grants being awarded.
- Post-IPO corporate treasury: The sources give the amount but no release dates.
- 1. https://backpack.exchange/bp
- 2. https://learn.backpack.exchange/blog/backpack-tokenomics
- 3. https://learn.backpack.exchange/blog/backpack-token-tge-overview
- 4. https://learn.backpack.exchange/blog/backpack-token-ticker-bp
- 5. https://learn.backpack.exchange/articles/what-is-bp-backpack-token
- 6. https://www.coindesk.com/business/2026/03/23/backpack-launches-bp-token-on-solana-with-25-airdrop-no-insider-allocation
- 7. https://tokenomist.ai/backpack
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 750,000,000 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.