Who Will Be Eligible for Backpack Airdrop?

Backpack has quickly become one of the fastest-growing centralized exchanges (CEXs) in the Solana ecosystem. With cumulative trading volume exceeding $400B and users across more than 150 countries, questions around a native token launch and a large-scale community airdrop were almost inevitable.

So when the Backpack token goes live, who will actually be eligible for the airdrop? The following sections break this down in detail.

Backpack Overview

Backpack is a comprehensive crypto ecosystem founded in 2022 by Armani Ferrante, a well-known developer in the Solana community and the creator of the Anchor framework. The Backpack ecosystem consists of three core products.

• Backpack Wallet: A multi-chain, self-custodial wallet supporting Solana, Ethereum, Optimism, and several other blockchains.
• Backpack Exchange: A regulated CEX holding a VASP license from Dubai VARA. It has been operating since early 2024 and, as of February 2026, has processed over $400B in cumulative trading volume, serving users in more than 150 countries. The platform offers spot trading, perpetual futures, and lending, with tokenized equities planned for the future.
• Mad Lads: A blue-chip NFT collection of 10,000 NFTs on Solana, which reached a peak floor price of 218 SOL in late 2023.

One notable aspect of Backpack is its team background. The core team includes former members of FTX and Alameda Research who lived through the collapse of FTX and lost up to 88% of their operating capital, approximately $14.5M. Despite this, the team continued building and expanding the project.

Why a Token launch is necessary

Backpack does not fit the mold of a typical exchange. It is a rare triple threat in crypto, combining a self-custodial wallet, a regulated CEX, and a blue-chip NFT collection. A native token serves as the glue that connects all three components into a single, unified ecosystem.

• Turning points into real value: Hundreds of thousands of users have accumulated Points across four consecutive Seasons. A token converts that long-term activity into tangible value and provides continued incentives to use the platform. Without a token, the Points program remains an open-ended promise.

• Strengthening the Unique xNFT Ecosystemz: Backpack pioneered the xNFT (executable NFT) standard, which allows NFTs to run code and function as mini-apps directly inside the wallet. A native token can act as fuel for interacting with these xNFTs, creating use cases that no other exchange currently offers.
• Completing the regulated CEX business model: Major exchanges (such as Binance (BNB), Bitget (BGB), and OKX (OKB)...) rely on native tokens to reduce trading fees, access launchpads, and participate in staking programs. Backpack operates under VARA Dubai and MiFID II EU licenses, and a token allows it to compete directly with these incumbents on utility.
• Rewarding early supporters: The Backpack team lost 88% of its capital during the FTX collapse but continued building. Mad Lads holders and early users stayed through the hardest period. A token is a way to reward that loyalty. CEO Armani Ferrante publicly confirmed this direction with the statement “First product. Then token.” in December 2024.

Backpack Token Distribution Details

Backpack has confirmed that 25% of the total token supply will be distributed at TGE.

• 24% will be allocated to participants in the Points program.
• 1% will be allocated to Mad Lads NFT holders.

The remaining 75% is reserved for long-term ecosystem development, product expansion, and global growth. These are the officially confirmed details so far, with additional information expected closer to TGE.

Unlike many crypto projects, Backpack has stated clearly that it has never sold tokens and will not do so in any form. There has been no private sale, no public sale, and no presale. Token distribution is based on participation and contribution, not capital raising.

The decision to delay publishing full tokenomics is intentional, ensuring that token design reflects real usage and real growth rather than speculative assumptions.

Who will be eligible for the Backpack Airdrop?

Backpack is a centralized exchange built around a Points system, so the airdrop model focuses on rewarding real trading activity, liquidity contribution, and long-term engagement. The following groups are likely to be prioritized.

Read more: How to Get the Backpack Airdrop

Mad Lads NFT holders

As mentioned earlier, this group is confirmed to receive airdrop allocation. Mad Lads holders will receive 1% of the total token supply. 

Additional benefits include automatic VIP Tier 1 status on the exchange with reduced maker and taker fees, priority access to trading competitions and community events, and a history of receiving airdrops from projects such as Wormhole (W), Tensor (TNSR), and io.net ($IO).

Active traders on Backpack Exchange

Traders who consistently trade over weeks or months are likely to be favored. Exchanges thrive on continuous liquidity, so users who generate stable, repeatable value are typically prioritized.

Potential factors include:

• Cumulative trading volume across spot and futures.
• Number of active trading days per week or month.
• Participation across multiple markets and trading pairs.
• Ratio of active trading versus passive holding.
• Referral contribution. Users ranked Gold or higher can earn 2%-5% of Points from referred accounts, which may increase total Points and support airdrop allocation as a secondary factor.

Backpack Points are updated weekly based on trading activity, with Points distributed every Friday at 2:00 PM UTC. The platform also encourages activity across both markets. Perpetual futures account for roughly 94% of daily trading volume, highlighting their importance.

Important notes include avoiding exclusive trading on stablecoin pairs such as USDT/USDC, as volume may not be fully counted, and enabling Auto-Lend to earn additional yield and activity Points.

Early and Long-term users

Backpack has been operating since February 2024 and recorded a snapshot of over 475,000 contributing users during the pre-season and public beta on March 20, 2025.

Points Program phases include 

• Legacy Drop: Snapshot for historical users dating back to late 2023.
• Bonus Drop: 10M Points distributed to active users between Season 1 and Season 2.
• Seasons 1-4: Seasonal Points programs, each lasting approximately 10 weeks.

Backpack Wallet users

Backpack Wallet was the first product in the ecosystem, launching in April 2022 before the Exchange and Mad Lads NFTs. 

Wallet users may be considered for the airdrop due to proven ecosystem recognition and meaningful engagement. Historically, Backpack Wallet users qualified for major Solana airdrops such as Pyth Network in 2023, Wormhole (W), Tensor (TNSR), and Monad in 2025. 

The wallet uniquely supports xNFTs and seamless Exchange integration, enabling on-chain interaction, asset management, and activity that may contribute to overall engagement scoring.

Conclusion

Backpack has not announced an official TGE date yet, but the Points model and platform activity already indicate which groups are likely to be prioritized. Active traders, early users, Mad Lads holders, and contributors to the broader ecosystem all have a strong chance of receiving allocation.

For those aiming to position well for the airdrop, the most effective approach is authentic platform usage. Consistent weekly trading, diversified activity across spot and futures, and long-term engagement tend to be rewarded. Airdrops favor real adoption, so steady and genuine participation remains the most reliable strategy.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Whales Market is not responsible for any investment decisions.

FAQs

Q1. What is the native token of Backpack?

Backpack has not officially announced the token name. Some community members refer to it as $BACK, but this has not been confirmed by the team.

Q2. What is the pre-market price of the Backpack token?

The token has not launched yet, so there is no official price. However, pre-market tracking and trading may be available on platforms such as Whales Market once listings appear.

Q3. Do Mad Lads holders receive an airdrop?

Yes. Backpack has confirmed that 1% of the total token supply will be allocated to Mad Lads holders, in addition to any Points they accumulate through regular platform usage.

Q4. Does short-term high-volume trading provide an advantage?

Not necessarily. Backpack prioritizes sustainable, repeat activity. Consistent trading across weeks, diversified spot and futures usage, and stable participation generally carry more weight than short-term volume spikes.

Q5. Can users who only use Backpack Wallet qualify without trading?

There is a possibility, but no guarantee. Wallet usage, especially xNFT interaction and Exchange integration, may be counted as engagement. However, trading activity remains the core factor in the Points program.

Q6. Does referral activity significantly affect airdrop allocation?

Referrals can increase Points indirectly, particularly for higher-ranked users. However, this is a supplementary factor. Allocation is still primarily based on direct trading activity and individual contribution levels.