"CEO Armani Ferrante of Backpack Exchange announces opportunity for stakeholders of upcoming Backpack token to exchange for 20% equity. Stake a year, own a
**International News Style:**
**Backpack Exchange Offers Equity to Stakers of Upcoming Token Amidst Potential IPO**
*Feb. 23, 2026 | Global Finance Desk*
- Armani Ferrante, CEO and founder of crypto trading platform Backpack Exchange, announced on Monday that stakers of the forthcoming Backpack token would have the opportunity to exchange those tokens for equity at a fixed ratio – 20% of the company today.
- In a post to X, Ferrante stated, "Users who stake the Backpack token for at least a year will have the opportunity to exchange those tokens for equity." He added, "Don't just use the next big thing. Own it."
- Ferrante expressed concerns about past token launches built on "false promises" of utility, aiming to offer users an alternative token structure demonstrating long-term commitment.
**Tokenomics Setup and Token Distribution**
- Backpack first announced its plan to launch the Backpack token earlier this month. The tokens will be unlocked in stages as the company moves toward a potential US IPO.
- 25% of the 1 million-token supply will be unlocked at the Token Generation Event, with the remaining 37.5% released before the IPO, provided Backpack reaches certain milestones such as regulatory approvals and the launch of new products.
- The first 62.5% of Backpack tokens will be distributed entirely to users, while the remaining tokens will be unlocked post-IPO for Backpack’s team members and investors.
**Aiming to Invert Centralized Token Model**
- Backpack's tokenomics setup aims to invert a model that usually sees insiders receiving large allocations early, with time-based vesting creating predictable sell pressure on retail users who are often left holding the bag.
- Ferrante slammed the current state of crypto, stating, "We live in the most centralized era crypto has ever experienced."
- Despite starting out relatively centralized, plans are in place to progressively decentralize the token as the product evolves.
**Background and Partnerships**
- Backpack was founded by Ferrante in 2022, who previously worked at the FTX-linked Alameda Research before the two entities collapsed in November of that year.
- The company has partnered with Securities and Exchange Commission-registered transfer agent Superstate to bring tokenized stocks onchain in October.
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