Bag (BAG)

Backpack final chapter week 2 data released, opportunity!

1⃣ Total trading volume: 7779M-->6642M (down 14.6%)

2⃣ Total custodial funds: 3.6 hundred million-->3.8 hundred million (up 5.5%)

3⃣ Open interest total: 231M-->177M (down 23.3%)

4⃣ Total lending amount: 356M-->336M (down 5.6%)

This week, trading volume and open‑interest data have slipped to some extent, while custodial funds have increased. This may be Japanese users coming in to acquire chips in the final stage.

The TGE is approaching, and with witch risk, the community’s trading enthusiasm is low, a light‑position, waiting‑to‑eat‑state.

However, I am still doing futures‑spot hedging; last week’s funding rate was painful. I just turned the ship around yesterday, started borrowing coins to go long, hoping the rate won’t keep joking with me, otherwise the cost is unbearable.

The biggest event this week is Backpack releasing its tokenomics: an initial airdrop of 25%, and 37.5% of the team portion unlocks one year after the IPO. This fully reflects the character of a long‑termist.

The specific token use cases should be announced soon; rumor has it the token can be swapped for stocks, but the exact process and conditions await official clarification.

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📢 Project progress last week:

· Backpack token allocation announced: 25% of tokens unlock at TGE, and a complete allocation chart (including users, community, ecosystem, etc.) will be released, emphasizing utility soon.

· Token name voting: community vote between $BAG and $BP.

🗣️ Armani rambling:

· Detailed principles of Backpack tokenomics: emphasize insiders cannot profit from tokens before product IPO; teams/investors have no direct allocation, all 37.5% of tokens are locked in the company treasury until one year after IPO; 62.5% of tokens are reserved for users, driven by product milestones (e.g., new regions/product launches); goal is to build a crypto+TradFi full‑stack product serving globally.

· Token utility preview: the impact of the token should be understood together with its utility, details forthcoming.

· Community Q&A response: explain the necessity of KYC (for regulated products like fiat gateways, not needed for self‑custody wallets); thank long‑term supporters; clarify fairness (earn points through real trades, prevent witches).

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If you are participating in the Backpack final‑chapter trading competition and want more points, follow me. I will keep updating more Backpack data, hoping it helps your trading decisions.

@SolBagsX @GetMouve https://t.co/g0ILn1uEbQ