Backpack CEO Armani Ferrante announced the initiative on February 23, 2026, as the exchange prepares for a potential initial public offering (IPO) in the United States. Under the new program, users who stake the forthcoming Backpack token for at least one year will qualify to redeem their holdings for company equity at a fixed ratio. The tokenomics strategy allocates 62.5% of the 1 billion total supply to users, with the first 250 million tokens set for release during the initial distribution event.
The move aims to replace traditional “utility” tokens with a structure that anchors digital asset value to actual company ownership. Backpack, a crypto exchange founded by former FTX employees, is currently seeking to raise $50 million at a $1 billion pre-money valuation while expanding its regulatory footprint across more than a dozen U.S. states. This “Stablecoin 2.0” approach to equity intends to prevent the retail dilution typically associated with insider-heavy token launches.
“I’m just tired of false promises… this is the best we can do to show our long term commitment to our users,” says Armani Ferrante, CEO and founder of Backpack.
🧭 FAQs
• What percentage of company equity is reserved for token stakers? Backpack has allocated 20% of its total company equity for users who participate in the program.
• How long must tokens be staked to qualify for equity redemption? Participants are required to stake their Backpack tokens for a minimum period of one year.
• What is the current reported valuation of the Backpack exchange? The company is reportedly in discussions to raise funding at a $1 billion pre-money valuation.
• How many total tokens will be released in the initial distribution? Approximately 250 million tokens, or 25% of the total supply, will be released at the debut.
