Backpack Prepares for TGE: CEO Armani Ferrante Reveals Details on Tokenomics and Epilogue Updates

In the world of cryptocurrencies, active preparations are underway for one of the most anticipated events of 2026 – the Token Generation Event (TGE) from the crypto exchange Backpack. Founded by former FTX employees, the platform, which has already achieved "unicorn" status with a $1 billion valuation, plans to launch its utility token with a focus on protecting retail investors from insider dumps. CEO Armani Ferrante recently shared key updates in the community's Discord, emphasizing a focus on long-term growth and product integration.

Epilogue Updates and TGE Timeline

According to Ferrante, the current "Epilogue" stage is the final phase of point distribution before TGE, which has been ongoing for four weeks. However, the team has decided to extend it by another two weeks, making the total duration six weeks. This will allow for system optimization and the distribution of about 10 million points weekly (with possible adjustments). After the completion of the sixth week (approximately the end of March), Backpack will announce a detailed TGE plan, including liquidity provision events.

Ferrante emphasized that TGE is a priority, but parallel work is being done on three major stages that will start immediately after the token launch.

"We're not rushing the launch in the current market conditions to offer a complete product with real value," noted the CEO.

Work on Vault and Unified Balance

Significant attention is being paid to the development of "Vault" - a universal storage that will serve as a common balance for all Backpack products, including spot trading, perpetuals, prediction markets, and more. This will allow deposits to be used as collateral for margin trading, unifying spot, margin, perpetuals, lending, and prediction into a single system with cross-margin. Ferrante stressed that this infrastructure makes Backpack not just another exchange, but an efficient platform for professional traders and institutions, with a focus on capital efficiency.

Tokenomics

Backpack has already revealed the tokenomics structure: total supply - 1 billion tokens. At TGE, 25% (250 million) will be distributed, of which 240 million will go to point holders, and 10 million – to Mad Lads NFT owners. The remaining 75% is divided into pre- and post-IPO tranches (37.5% each), with gradual unlocking based on achievements such as regulatory approvals, new product launches, and geographic expansion (EU, Japan, USA).

Ferrante's team will not receive tokens directly – only equity in the company, which is realized after IPO.

"Insiders won't be able to 'dump on retail' – it's impossible under our model," stated the CEO.

This sets Backpack apart from traditional projects where unlocks are time-based rather than tied to real growth metrics. The company has already raised $50 million in a funding round and plans global expansion, including a launch in the USA with a focus on spot trading.

Repeat KYC and Verification

To participate in TGE and claim tokens, users must undergo verification. Ferrante urged to complete the repeat KYC as soon as possible.This is the first step to eligibility for claiming, and without it, access to tokens will be restricted.

Why is this important?

Backpack is not just launching a token – the platform is building an ecosystem with a focus on compliance, regulation, and real utility. With trading volume exceeding $60 billion in 2024 and presence in 150+ countries, the company aims to become a bridge between TradFi and crypto, integrating real stocks alongside crypto assets. Analysts predict that TGE could occur by the end of March, with growth potential after IPO. For the Mad Lads community and point participants, this is a chance for significant rewards, but with a focus on long-term value.