Backpack to offer equity swap option for token stakers

Cryptocurrency exchange Backpack will provide users who stake its upcoming native token with an option to acquire equity in the company, Cointelegraph reported. Users who stake Backpack tokens for a minimum of one year will have the opportunity to exchange them for company shares at a fixed ratio. The total equity allocated to staking participants is capped at 20%. Backpack recently unveiled its token generation event (TGE) plan and tokenomics, announcing that 25% of the total supply will be unlocked at the TGE. This initial unlock will be allocated to point holders (24%) and NFT holders (1%).