The equity offering builds on Backpack’s token announcement earlier this month, in which the first 62.5% of tokens will be distributed to users.
Crypto trading platform Backpack Exchange on Monday announced that stakers of its forthcoming Backpack token will be able to earn equity in the exchange, as the company moves toward a potential initial public offering.
“Users that stake the Backpack token for at least a year will have the opportunity to exchange those tokens for equity at a fixed ratio—20% of the company today,” said Backpack CEO and founder Armani Ferrante in a post to X on Monday.
20% of Backpack equity given to users who stake for a year.
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