Backpack pledges 20% equity to token stakers amid IPO plans

CoinTelegraph

by Brayden Lindrea

February 24, 2026

AI-Generated Deep Dive Summary

Backpack Exchange, a cryptocurrency trading platform, has announced that users who stake its upcoming Backpack token for at least one year will be eligible to receive 20% equity in the company. This offering comes as Backpack prepares for a potential initial public offering (IPO). The initiative builds on the company’s earlier announcement this month, which outlined plans to distribute the first 62.5% of its tokens directly to users. By allowing token stakers to convert their holdings into equity at a fixed ratio, Backpack aims to incentivize long-term engagement and participation in its ecosystem. The announcement was made by Armani Ferrante, Backpack’s CEO and founder, who emphasized the importance of giving users a stake in the platform’s success. Staking the Backpack token for a year provides holders with a unique opportunity to own a portion of the company, aligning their interests with those of the exchange. This approach not only rewards loyal users but also underscores Backpack’s commitment to fostering a decentralized and user-centric community. For crypto enthusiasts, this move highlights the growing trend of platforms offering ownership stakes through token-based mechanisms. By allowing users to earn equity, Backpack is setting itself apart from traditional exchanges that typically operate as centralized entities. This model could attract a broader audience seeking both financial returns and a sense of ownership in the companies they support. The decision to allocate 20% of the company’s equity to stakers also reflects Backpack’s strategy to build trust and transparency with its user base. By distributing significant portions of its token supply and equity, the platform aims to create a more inclusive and democratic approach to cryptocurrency trading. This could potentially enhance liquidity, increase user retention, and drive long-term growth for the exchange. Ultimately, Backpack’s equity offering to token stakers represents a forward-thinking approach in the competitive world of crypto trading platforms. By prioritizing user incentives and fostering a sense of ownership, the company is positioning itself as a leader in the decentralized finance (DeFi) space. This move not only benefits its users but also sets a precedent for other platforms looking to innovate and attract a loyal customer base.

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Originally published on CoinTelegraph on 2/24/2026