The TGE date and opening valuation of the Backpack project have always been the most sought-after information by players involved in derivatives trading.

According to the latest market prediction from Polymarket, there is a relatively unified consensus on the valuation. The FDV is widely expected to be in the range of $1 billion to $1.5 billion, with the probability of stabilizing at $1 billion accounting for more than half. If considering the median, the consensus position is around $1.29 billion.

So when exactly will the tokens be issued? That still depends on the latest progress from founder Armani Ferrante. Whether they will launch first and then raise funds, or raise funds first and then start the TGE, there is no clear timetable yet. The market is waiting for this official signal.