Backpack CEO Says Company Has Never Sold Token Warrants
Photo: TokenPost
Ferrante’s denial of warrant sales adds a financing point to Backpack’s token design, which distributes tokens among users, milestone releases and a company treasury. “And we’ve never sold a token warrant—not once,” Ferrante said in an Oct. 1 interview. Backpack’s token plan sets the supply at one billion tokens. It made 250 million available at the token generation event: 240 million for Backpack Points participants and 10 million for Mad Lads holders. The plan allocates another 375 million BP, or 37.5% of supply, for progressive releases to users after predefined growth milestones.
Source: TokenPost
