Backpack, the Solana‑focused exchange and wallet, will allow long‑term token stakers to claim 20% of the company’s equity. CEO Armani Ferrante announced that users who stake the platform’s token for at least one year can later swap those tokens for shares at a fixed ratio.
How Backpack’s Equity-for-Staking Program Works
Ferrante explained that users must lock their Backpack tokens for at least 12 months to qualify for the equity offer. After that period, eligible stakers can choose to exchange their tokens for equity representing 20% of the company’s current ownership, allocated to all program participants.
The exact swap ratio and legal structure will depend on jurisdictional rules, but the company frames it as an equity redemption option rather than automatic share delivery. Backpack says it will share more details on mechanics, eligibility, and documentation over the coming weeks as it lines up regulatory and corporate steps.
This program fits within a broader token design in which users, not insiders, hold most of the circulating supply. Backpack’s tokenomics released 25% of the 1 billion total supply at TGE, with around 24% going to point earners and Mad Lads NFT holders, while all team tokens are held in a company treasury and remain locked for at least 1 year after a future IPO or similar exit.
Why Backpack Is Tying Tokens to Company Equity
Ferrante says he entered crypto to build real ownership structures, not just fee‑discount tokens, and sees the equity program as a way to align the company with users who stick around. By giving long‑term stakers a path to equity, Backpack wants its token to reflect the growth of the underlying business rather than just exchange volume or buyback schemes.
The move also supports Backpack’s “IPO narrative,” in which the company aims to list shares in the United States and tie token value to public‑market milestones. In this model, insiders mainly hold equity; the company treasury holds most tokens; and community members receive liquid tokens and potential equity upside if Backpack reaches a public listing or another exit.
The 20% equity offer is unusual in crypto, where most exchange tokens focus on trading discounts, burns, or simple revenue sharing. Supporters argue that letting users “graduate” from tokens into actual shares could deepen loyalty, while critics warn that the structure adds legal complexity and could face securities scrutiny in some markets.
READ MORE: CoreWeave Stock Faces Tailwinds and Risks Into Earnings
