Backpack 

BP Price

What is the Backpack (BP) exchange token?

Backpack is an all-in-one crypto platform built by Coral, the company behind the Solana Anchor framework and the Mad Lads NFT collection. The platform combines a centralized exchange regulated under Dubai's VARA framework, perpetual futures trading, a non-custodial wallet with 0% swap and bridge fees across 15+ chains, and a US stock brokerage. BP is the platform's exchange token, issued on Solana.

Is BP a coin or a token?

BP is a token, not a coin: the asset is an SPL token on the Solana blockchain rather than the native asset of its own chain. The contract address BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy is verifiable on Solscan. DropsTab classifies BP under its CEX category.

What is BP's total supply and tokenomics?

BP has a fixed maximum supply of 1,000,000,000 BP, per DropsTab data. Allocation is phase-based: 25% of supply was released at TGE, 37.5% is reserved for growth-triggered unlocks before a planned IPO, and 37.5% sits in the company treasury, fully locked until one year after an IPO. No BP went to founders, employees, or investors at TGE. Team and investor exposure runs through the treasury.

How does BP's allocation structure affect unlock risk?

The structure creates a supply overhang that holders cannot calendar. Together, the pre-IPO tranche and the treasury tranche hold 75% of total supply. The pre-IPO tranche unlocks through milestone triggers tied to platform growth, and Backpack has published no fixed dates for these events. Treasury tokens stay locked until one year after an IPO, and no IPO date has been announced. The milestone-based cadence makes the timing of new circulating supply unpredictable, which is the main emission risk for BP holders.

Who backed Backpack and how much did it raise?

Per DropsTab fundraising data, Backpack raised $37M across two rounds. A $20M strategic round announced on September 28, 2022 was co-led by FTX Ventures and Jump Crypto, with Multicoin Capital, K5 Global and Anagram participating; much of the FTX-linked portion was reportedly lost in the FTX collapse. A $17M Series A followed on February 28, 2024 at a $120M valuation, led by Placeholder.

What does Backpack's funding signal about project maturity?

The backer list mixes venture capital with trading infrastructure. Jump Crypto and Multicoin Capital are established crypto funds, while Series A participants Wintermute and Amber Group are professional market makers, a profile directly relevant to an exchange token's liquidity. Coral also raised roughly $1.4M through the Mad Lads NFT sale in April 2023. No single disclosed investor holds a dominant stake in the company.

Who qualified for the Backpack airdrop and what did it distribute?

Backpack distributed 250,000,000 BP at the TGE on March 23, 2026, equal to 25% of total supply. Exchange points holders received 24% (240M BP) and Mad Lads NFT holders received 1% (10M BP). Eligibility traced to Backpack's points campaigns: two trading seasons in 2025 awarded weekly points for activity across exchange products, and a qualification campaign ran from September 2022, before the token existed. No insider allocation accompanied the TGE.

Where can BP be traded?

Per DropsTab data, no third-party centralized-exchange spot market for BP is recorded: tracked third-party spot trading is DEX-only, through Solana pools on Raydium and Meteora, including BP/USDC, BP/SOL and BP/USDT pairs. The deepest BP spot market, BP/USD, operates on Backpack Exchange, the issuer's own venue. Outside the home exchange, centralized exposure comes from USDT-margined perpetual futures on multiple venues: Bybit, KuCoin Futures, Gate.io Futures and MEXC Futures.

What is the BP token used for?

BP is a utility token for the Backpack platform. Staking BP unlocks reduced trading fees, wire discounts, higher yields and free withdrawals on the exchange. The Equity Exchange program adds a distinctive use: holders who stake BP for at least one year can qualify to purchase up to 20% of Backpack's company equity, per Backpack documentation. This links the token directly to ownership economics of the company.

How is BP connected to Backpack Securities and the IPO plan?

Backpack Securities launched on June 2, 2026 as a compliant US brokerage offering real stocks and ETFs, with unified portfolio margin across crypto, perps and equities. Backpack's roadmap ties BP to a token-to-equity path: BP holders receive priority allocation in a future Backpack IPO, and BP remains a core ecosystem asset after the listing. The treasury tranche of BP unlocks one year after that IPO.