[Backpack: Users who stake Backpack tokens for at least one year can exchange them for 20% equity in the company at a fixed ratio] BlockBeats news, February 23, Backpack CEO Armani Ferrante stated, 'Users who stake Backpack tokens for at least one year will have the opportunity to exchange their tokens for company equity at a fixed ratio—equivalent to 20% of the company's current equity. More practical features will also be introduced, and updates will be shared gradually over the coming weeks, months, and even the next year. As the Backpack community continues to grow, we will progressively decentralize the token and roll out new rights arrangements—some of which will be centralized (such as our equity exchange plan), while others will become more decentralized as the product evolves. In the long term, I hope the value represented by the token can surpass what any single company can offer; but in the short term, this is the best way we can demonstrate our long-term commitment to users.'