Backpack token, Backpack Exchange, Backpack token staking, Backpack equity offer, and Backpack IPO plans moved into focus after the exchange said long term stakers can swap tokens for company equity.
Crypto trading platform Backpack Exchange said on Monday that users who stake the forthcoming Backpack token for at least one year can exchange those tokens for equity.
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Armani Ferrante, the CEO and founder, said the swap would use a fixed ratio tied to “20% of the company today,” according to his post on X.
Ferrante described the structure as a response to token launches he said relied on “false promises” of utility.
He wrote, “I’m just tired of false promises.” He also said the equity offer would “anchor the token’s value to company equity.”
Backpack said it first announced its Backpack token plan earlier this month. The company said the token supply totals 1 million and will unlock in stages tied to the exchange’s IPO plans.
Backpack equity offer ties Backpack token staking to 20% equity
Backpack said the equity path depends on Backpack token staking for at least a year. After that period, eligible users can exchange staked tokens for equity under the fixed ratio Ferrante described.
Ferrante framed the Backpack equity offer as an alternative to token structures that promised utility without delivering it. In the same message, he wrote,
“I came into crypto because I believe it’s going to change the world … But somewhere along the way, amidst the booms, the busts, the moonshots, the decentralization theater, and the straight up scams, we lost our way.”
He also criticized what he called rising centralization in the sector. He wrote,
“We live in the most centralized era crypto has ever experienced,”
and added,
“The more centralized something is, the less meaningful a token is.”
Backpack tokenomics set 1 million supply and 62.5% user distribution before IPO
Backpack said its Backpack tokenomics design allocates the first 62.5% of tokens entirely to users.
The company said the remaining tokens will unlock post IPO for Backpack team members and investors.
Backpack said 25% of the 1 million token supply will unlock at the Token Generation Event (TGE). However, the company has not set a TGE date.
Backpack said the remaining 37.5% of tokens will be released before the IPO only if it reaches certain milestones. It listed regulatory approvals and the launch of new products among those milestones.
Backpack IPO plans follow Superstate partnership on tokenized stocks
Backpack linked its staged unlock schedule to progress toward a potential U.S. IPO. The company said the token plan will continue to unfold as those Backpack IPO plans advance.
The token equity update also followed Backpack’s October partnership with Superstate, which the company described as a Securities and Exchange Commission registered transfer agent. Backpack said the partnership aimed to bring tokenized stocks onchain.
Backpack was founded in 2022, according to the report. Ferrante previously worked at Alameda Research before Alameda and FTX collapsed in November 2022.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: February 24, 2026 • 🕓 Last updated: February 24, 2026
