Backpack Exchange launches BP token on Solana with 1B supply, community airdrop, NFT rewards, and staking system linked to company equity benefits.
Backpack Exchange officially launched its BP token on Solana on March 23, 2026. The platform said the token bolsters its role in self-custody, trading, and the xNFT ecosystem. This launch is the result of several months of preparation as Backpack developed its exchange services. The release was described by the company as a community-first event and there was no initial allocation to team or investors.
Community Distribution Model and Token Airdrop Details
The total number of BP tokens in supply is limited to 1 billion tokens. Whereas during the Token Generation Event, 25% of supply was unlocked for users. This is equivalent to 250 million tokens distributed directly to the community. Backpack confirmed the allocation had a focus on active traders and loyal ecosystem participants.
Swap $BP with Backpack Wallet with zero fees. pic.twitter.com/wKMsIIQBrI
— Backpack 🎒 (@Backpack) March 23, 2026
On the other hand, most of the tokens went to Backpack Points holders. About 240 million tokens or 24% of the supply were given based on trading activity. Users with more engagement were allocated more with the points program. The system rewarded traders who supported the exchange since early testing phases.
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Another 1% of supply, which is 10 million tokens, went to Mad Lads NFT holders. These users were given tokens for free on connecting their wallets. Furthermore, Backpack said the NFT reward is a recognition of early supporters of the Solana ecosystem. The Mad Lads collection is one of the most active NFT projects on Solana.
Backpack also introduced the staking system, which was associated with company ownership. Users who stake BP tokens for at least 1 year are able to convert tokens into equity. The company was saving up to 20 percent of total equity for this program. This structure links token holders directly to the long-term growth of the company.
Staking Benefits, Equity Plan, and Future Unlock Schedule
Staking BP tokens also has immediate benefits on the exchange platform. Users with higher amounts of monetary stake get lower trading fees. In addition, the platform pays yield increases of up to 3% on USD collateral. These features are intended to help increase long-term Backpack ecosystem participation.
Stakers may also be given preference in the purchase of future products. Backpack confirmed early access to Backpack Card and new trading tools. Reduced fees on prediction markets would also be available to stakers. The company stated that these benefits reward users for keeping tokens locked for longer.
Meanwhile, Backpack was founded by ex-FTX and Alameda Research employees. The company came under scrutiny after the collapse of FTX in 2022. However, it eventually got the European end of the failed exchange. That business was relaunched as Backpack EU, for backing the trading expansion in a regulated manner.
The remaining 75% supply of BP will unlock in stages based on milestones. About 37.5% will delist ahead of a possible listing to the public. These tokens will be distributed to users based on reaching growth targets of the platform. Another 37.5% remains locked in treasury for at least 1 year after an IPO.
Backpack said the milestone-based release helps to protect users from sudden increases in supply. The company feels that the structure helps to support long-term stability and trust. With the BP token live on Solana, Backpack is looking to expand its exchange, wallet, and NFT ecosystem together.
