Crypto trading platform Backpack Exchange will allow stakers of its upcoming Backpack token to earn equity, with 20% of the company’s equity set aside for users who stake for at least a year. The tokens will be unlocked in stages as the company moves towards a potential IPO, with milestones to be met before unlocking additional tokens. Backpack aims to prioritize users with a unique tokenomics setup that anchors the token’s value to company equity. The company was founded in 2022 by CEO Armani Ferrante, who aims to invert the traditional model of token distribution to benefit retail users. Although the plan is not perfect, Backpack intends to progressively decentralize the token as the product evolves, emphasizing a long-term commitment to users.

Read more at Cointelegraph: Backpack Offers 20% Equity to Token Stakers Ahead of IPO