Backpack will allocate 20% of the company's equity to users who have staked tokens for at least one year

BlockBeats News, February 23rd, Backpack CEO Armani Ferrante posted a message stating, "Users who stake Backpack tokens for at least one year will have the opportunity to convert their held tokens into company equity at a fixed ratio — currently 20% of the company's equity. More practical features will also be launched and shared continuously in the coming weeks, months, and even within a year. As the Backpack community continues to grow, the decentralization of the token will be gradually promoted, introducing new equity arrangements — some of which will be in centralized forms (such as our equity conversion plan), while others will become more decentralized as the product evolves.

In the long run, I hope the value represented by this token can surpass what any single company can provide; but in the short term, this is the best way we can demonstrate our commitment to users in the long run."