The Backpack Airdrop went live today, March 23, and honestly, the reactions have been all over the place.
Some people are hyped. Some are furious. And quite a few users logged in just to check, and found money they forgot they even had sitting in their accounts. That last group is probably the happiest today.
Here’s everything you need to know to check your allocation and actually claim it.
Also Read: The Ultimate Guide To Successfully Hunt Airdrops In 2026
Step-by-Step: How to Claim the Backpack Airdrop
The process is clean. No complicated steps, no gas headaches.
Step 1: Go to backpack.exchange/bp and connect your wallet or log into your existing Backpack account.
Step 2: Check your $BP allocation. You’ll need to click “agree” before the number shows up.
Step 3: Head to backpack.exchange/bp-claim to initiate the actual claim.
Step 4: Decide what you’re doing – stake or withdraw. This decision matters more than it sounds, which I’ll get to in a moment.
One thing worth noting: KYC was mandatory for the points program. Backpack required eligible airdrop recipients to undergo a second manual verification before March 15, 2026, to filter out bot accounts. If you skipped that step back then, your allocation may not be there.
The Staking Window
This is the part most people are skimming past, and they shouldn’t.
Users can unstake at any time within the first 7 days; after that, there is a 7-day waiting period before unstaking can be completed.
So if you claim today and decide two weeks from now that you want to sell, you’re waiting. Plan accordingly before you lock anything in.
The staking mechanic also has a longer play baked in. Users who stake BP for at least one year can convert it into company equity at a fixed ratio, with 20% of Backpack’s company shares allocated to eligible stakers. That’s genuinely unusual for a crypto project and worth keeping in mind if you’re not purely here for a quick flip.
Also Read: Thailand Becomes Global Crypto Tax Haven With Zero Tax on Bitcoin
$BP Tokenomics
Total supply is 1 billion $BP. 250 million tokens (25%) went to the community, split as 240 million for Season 4 points holders and 10 million for Mad Lads NFT holders.
The contract address if you want to verify: BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy
One thing that sets this Backpack Airdrop apart from most: Backpack has never sold a single token. The project raised $37 million through traditional equity funding from investors including Placeholder VC, Hashed, and Delphi Digital. No insider token dumps at TGE. That’s rarer than it should be in this space.
Mad Lads NFT Holders: The Brutal Math
Here’s where the mood sours a bit. Web3 analyst caominh.eth put it bluntly on X: if you held a Mad Lads NFT without selling near its all-time high around $40,000, your cut of the Backpack Airdrop is roughly 1,000 $BP – worth about $298 at current prices.
The NFT itself is sitting at around 11 SOL, approximately $935.
Two years of holding, gas fees, opportunity cost, and the airdrop reward came out to $298. It’s a rough outcome, and the community isn’t being quiet about it.
This is a pattern that keeps repeating in Web3. NFT projects hint at future token rewards as a reason to hold long-term. The actual numbers at distribution rarely justify the wait, especially when the broader market is down. Bitcoin is currently fluctuating around $70,000, and this Backpack Airdrop dropped right into a bear market, not a bull run.
Why Backpack Launched Now, in a Bear Market
Timing seems off, right? Backpack had faced repeated community calls to launch a token, but delays driven by hacks, system failures, and related compensation obligations ultimately pushed the team to proceed under unfavorable market conditions.
They didn’t pick the ideal moment. They launched when they were ready.
On the exchange side, the numbers are real. Backpack currently has $137 million in open contracts, approximately $350 million in assets under custody, and $330 million in total lending. This isn’t a paper project. The Backpack Airdrop rewards users of something that was actually running.
Also Read: Top 7 Crypto Coins to Buy During the 2026 Bear Market
Who Qualified for the Backpack Airdrop?
Based on community reports and official information:
- Active traders on Backpack Exchange (points accumulated via volume, referrals, holding duration)
- Mad Lads NFT holders (automatic allocation, no action required beyond KYC)
- Users with existing account balances, even dormant ones
That last point is key. Several people on X reported they hadn’t touched their accounts in months, saw the Backpack Airdrop announcement, logged in, found funds, and got a small allocation on top. Unintentional farming, but it worked.
Where do I claim the Backpack Airdrop?
Go to backpack.exchange/bp-claim. Connect your Backpack account or compatible wallet.
How many $BP tokens are being distributed?
250 million at TGE – 25% of the total 1 billion supply.
Can I unstake right after claiming?
Yes, but only in the first 7 days. After that, a 7-day lock applies before tokens are released.
I didn’t actively farm. Do I still qualify?
Possibly. Check backpack.exchange/bp – users with past trading activity or account balances have qualified without intentional farming.
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Disclaimer:
Look, we’re just journalists reporting the news here, not your financial advisors. Everything you read above is for information purposes only. Crypto is wild, unpredictable, and can absolutely wreck your savings if you’re not careful. Never invest money you can’t afford to lose. Seriously, we mean it. Do your own research, talk to actual licensed financial professionals, and remember that past performance means absolutely nothing when it comes to future results. The crypto market can turn on a dime, and what’s hot today might be toast tomorrow. We’re not responsible for your investment decisions, good or bad. Trade smart, stay safe, and don’t bet the farm on anything you read on the internet, including this article.
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