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Backpack unveils equity-for-stake plan, allocating 20% via one-year token lock
Crypto exchange Backpack said it will allocate 20% of its equity to users who stake its token for at least one year. The plan offers a fixed token-to-equity swap ratio and seeks to address incentive misalignment, according to founder Armani Ferrante. The exchange flagged the initiative in an X post on Monday.