25% on day one. As we approach TGE, we'll be releasing our tokenomics, one step at a time. It's unclear if "token" will even be the right way to describe our TGE. It'll be a token in form, but everything about it will be different from the status quo. The distribution will be different. The utility will be different. Even the functionality will be different. In fact, it'll be so different that it probably warrants a new name, a topic for another day. Today, we only serve about ~48% of the world. Over the next year, we'll be opening up Backpack to the rest of the world, releasing new products, and expanding the community along the way. To be definitively clear with no exception: There has never been a sale of a single Backpack token, and the entire supply will go towards growing Backpack into one of the largest financial institutions in the world. We've come a long way, and we have an even longer way to go. LFG