Backpack signaled on Monday that its yet-to-be-released token will allow people to earn equity in the exchange, potentially turning users into owners amid its U.S. expansion.

Those that stake the company’s token for at least a year will have the opportunity to exchange their holdings for Backpack equity at a fixed ratio, CEO Armani Ferrante said on X. The company has currently set aside 20% of its equity for the initiative, he added.

Ferrante said the move is aimed at improving on existing models, considering that many projects fall short of promises to support tokens that derive their value purely from their utility. There’s also nothing forcing most projects to decentralize over time, he added.

The company hasn’t…