Backpack 公布完整代幣經濟學，強調「用戶優先、成長觸發、長期合規」，打造與團隊命運綁定的代幣設計。
（前情提要：Mad Lads官宣：不會發Backpack空投！但附上「瑞克搖」惡作劇，引起多方猜測）
（背景補充：Backpack CEO：Solana 走入「金融基礎建設」新階段，投機NFT 遊戲、迷因熱潮成過去）
本文目錄
- 代幣分配概覽：25% 立即釋放，其餘分階段解鎖
- Armani Ferrante 的三大核心原則
- 內部人士「傾銷散戶」不可能發生
- 流動性代幣專屬使用者，用以觸發成長
- 團隊與投資人激勵完全對齊
加密貨幣錢包與交易所平台 Backpack 於 2026 年 2 月 9 日在 X 平台發布代幣分配圖表，隨後創辦人兼 CEO Armani Ferrante 發文詳細闡述背後設計理念，強調這套機制旨在避免常見的「內部人士向散戶傾銷」問題，並將代幣價值與實際產品成長及長期監管合規深度綁定。
In the Backpack tokenomics, we have one guiding principle.
– Insiders “dumping on retail” should be impossible: no founder, executive, employee, or venture investor should receive wealth from the token until the product hits escape velocity.
Of course it begs the question, what… https://t.co/mltBgm5SPu
— Armani Ferrante (@armaniferrante) February 9, 2026
代幣分配概覽：25% 立即釋放，其餘分階段解鎖
Backpack 代幣總供應量為 10 億顆，分配結構如下：
- **25% 在 TGE（代幣生成事件）立即釋放：**共 2.5 億顆。其中 24%（2.4 億顆）分配給參與 points 計畫的用戶，1%（1,000 萬顆）專門空投給 MadLads NFT 持有者。
- **37.5% Pre-IPO（上市前）：**共 3.75 億顆，採用「成長觸發解鎖」機制。代幣將隨著關鍵里程碑逐步釋放，例如開拓新地區、推出新產品。
- **37.5% Post-IPO（上市後）：**同樣 3.75 億顆，放入公司金庫（Corporate Treasury），完全鎖定至 IPO 後至少 1 年。這部分作為長期戰略資產，由公司持有。
整體設計中，沒有任何直接分配給創辦人、團隊或風險投資人的流動性代幣，強調「所有流動性代幣完全給使用者」。
Armani Ferrante 的三大核心原則
Armani Ferrante 在回覆官方貼文的長文中，清楚列出三大指導原則：
內部人士「傾銷散戶」不可能發生
Ferrante 指出，沒有任何創辦人、高管、員工或 VC 能在產品達到「逃逸速度」（escape velocity）前從代幣直接獲利。對 Backpack 而言，「逃逸速度」的明確定義就是「在美國完成 IPO」。他坦言，這條路可能很快實現，也可能遙遙無期，甚至永遠不成，但團隊已下定決心朝此方向前進。
Ferrante 介紹，過去一年，Backpack 成長看似緩慢，因為他們像「背著降落傘跑步」，嚴格遵守監管要求，逐步成為受監管的金融機構。目前僅服務全球約 48% 地區，但這正是為了打下國際基礎，未來將擴及銀行管道、USD 帳戶、多幣種支付、證券產品等 TradFi 領域。
流動性代幣專屬使用者，用以觸發成長
所有可流動代幣僅分配給使用者，並與產品里程碑綁定。每次開新市場或推新功能，都會觸發代幣解鎖，吸引新用戶、擴大社群。Ferrante 比喻這就像過去 points 機制點燃 Seasons 1-4 的效果。
團隊與投資人激勵完全對齊
團隊零直接代幣分配，所有「團隊份額」置於公司金庫，鎖定至 IPO 後至少 1 年。團隊僅透過持有公司股權間接獲益，公司則持有大量代幣。只有公司成功上市、完成所有監管與產品挑戰，團隊才能分享價值。Ferrante 以一句話總結：「We either go big, or we go home.」（要嘛做大，要嘛回家。）
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