Backpack Offers 20% Equity to Token Stakers Ahead of IPO

Backpack Exchange announced that stakers of its forthcoming Backpack token can earn equity in the company. Users who stake the token for at least a year will be able to exchange those tokens for equity at a fixed ratio — 20% of the company today, CEO and founder Armani Ferrante posted to X.

The tokenomics tie the token to company equity. Backpack plans a 1 million-token supply with 25% unlocked at the Token Generation Event and a further 37.5% released before a potential U.S. IPO if Backpack reaches milestones such as regulatory approvals and new product launches.

In total, 62.5% of tokens will be distributed to users, with the remaining allocation unlocked post-IPO for team members and investors. Ferrante framed the offer as an alternative to past token launches built on "false promises," and said he wanted a token structure that shows long-term commitment.

United States

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