Backpack’s BP Token Trades at $0.31 in Pre-Market, Implying $310 Million FDV
Backpack launched BP token trading and confirmed Mad Lads holders will receive an airdrop worth 1% of total supply, while the collection’s floor price fell 25.36% to 11.1 SOL.
SOL
Fact Check
The claim is fully corroborated by specific data points from multiple news reports. BlockBeats (https://m.theblockbeats.info/flash/337577) confirms the $0.31 pre-market price and $310M FDV. Another report (https://m.theblockbeats.info/flash/337626) confirms the 1% airdrop to Mad Lads holders and the subsequent 25.36% drop in the collection's floor price to 11.1 SOL.
Summary
Backpack’s BP token began trading after earlier pre-market activity indicated a $0.31 price and a fully diluted valuation of $310 million. Backpack had already launched its token claim and staking page, and it said Mad Lads holders will receive an airdrop equal to 1% of total BP supply. Around the launch, Mad Lads’ floor price dropped 25.36% to 11.1 SOL. Backpack also stated that users can unstake immediately during the first seven days, after which unstaking is subject to a seven-day delay.
Terms & Concepts
- FDV: Fully diluted valuation, which estimates a token project’s total value using the current token price and the token’s total eventual supply.
- Staking: Locking tokens in a platform or network to earn rewards or participate in ecosystem functions.
- Airdrop: A distribution of tokens to eligible users or holders, often used to reward communities or bootstrap adoption.