Crypto buying and selling platform Backpack Trade on Monday introduced that stakers of its forthcoming Backpack token will be capable of earn fairness within the change, as the corporate strikes towards a possible preliminary public providing.
“Customers that stake the Backpack token for not less than a 12 months could have the chance to change these tokens for fairness at a set ratio — 20% of the corporate right now,” mentioned Backpack CEO and founder Armani Ferrante in a publish to X on Monday.
20% of Backpack fairness given to customers who stake for a 12 months.
Do not simply use the following huge factor.
Personal it. 🎒 pic.twitter.com/whdGUQ0XyH
— Backpack 🎒 (@Backpack) February 23, 2026
Talking in regards to the fairness providing, Ferrante mentioned many previous token launches had been constructed on “false guarantees” of utility — a pitfall he needed to keep away from. As a substitute, he mentioned he needed to supply customers another token construction exhibiting long-term dedication.
“I got here into crypto as a result of I consider it’ll change the world … However someplace alongside the best way, amidst the booms, the busts, the moonshots, the decentralization theater, and the straight up scams, we misplaced our method. I do not learn about you, however I am simply uninterested in false guarantees.”
Backpack’s supply would anchor the token’s worth to firm fairness.
Backpack prioritizes customers with tokenomics setup
Backpack first introduced its plan to launch the Backpack token in a publish on X earlier this month.
The tokens are supposed to be unlocked in phases as the corporate strikes towards a possible US IPO.
Backpack mentioned 25% of the 1 million-token provide might be unlocked on the Token Technology Occasion, with the remaining 37.5% launched earlier than the IPO, offered Backpack reaches sure milestones, reminiscent of regulatory approvals and the launch of recent merchandise.
The primary 62.5% of Backpack tokens might be distributed totally to customers, whereas the remaining tokens might be unlocked post-IPO for Backpack’s workforce members and traders.
Backpack mentioned the tokenomics setup goals to invert a mannequin that normally sees insiders receiving giant allocations early, with time-based vesting creating predictable promote strain on retail customers who are sometimes left holding the bag.
Backpack was based in 2022 by Ferrante, who beforehand labored on the FTX-linked Alameda Analysis earlier than the 2 entities collapsed in November of that 12 months.
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Whereas the Backpack TGE date has not been set, the token-equity announcement comes as Backpack partnered with Securities and Trade Fee-registered switch agent Superstate to deliver tokenized shares onchain in October.
Backpack acknowledges its plan isn’t excellent
Ferrante slammed the present state of crypto, stating: “We reside in probably the most centralized period crypto has ever skilled,” and including: “The extra centralized one thing is, the much less significant a token is.”
On the identical time, Ferrante acknowledged that the token-equity providing would begin out comparatively centralized however added that plans are in place to progressively decentralize the token because the product evolves.
“I anticipate the token to characterize greater than something a single firm has to supply, however within the brief run, it is the perfect we will do to indicate our long run dedication to our customers.”
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