Founder of Backpack Calls for Rational Trading to Prevent Users from Losing Money by Boosting Rankings in Pre-season Games

Founder of Backpack Calls for Rational Trading to Prevent Users from Losing Money by Boosting Rankings in Pre-season Games

Founder of Backpack Calls for Rational Trading to Prevent Users from Losing Money by Boosting Rankings in Pre-season Games

Solana ecological trading platform Backpack announced on Sunday (18th) that its trading volume in the past 24 hours has exceeded $1 billion on the X platform. The exchange launched the preseason on February 14th, and user trading volume will be a key factor in its “Backpack Ranking.”

Backpack founder Armani Ferrante expressed on Monday that on the fifth day of the preseason, he deeply felt the enthusiasm from the users. At the same time, he also expressed concerns about the current situation and called on users to trade rationally. Ferrante wrote:

Regarding the recent sharing of some airdrop content circulating on the internet, Backpack’s Chinese X account also made a clarification that the purpose of trading activities is to reward genuine users and encourage more genuine users to experience their products. For malicious trading behaviors, Backpack will conduct strict monitoring and reserve the right to take corresponding measures.

Ferrante previously stated last week that “Backpack Rank” is the platform’s level system used to reward users. Various user activities such as deposits, withdrawals, transactions, referrals, events, exposure, and decentralized applications (DApps) will be converted into points to determine the user’s position on the leaderboard. In addition, according to the content implied by Ferrante, after the PYTH token airdrop, it is speculated that Backpack may conduct two additional unnamed token airdrops.

Backpack mainly provides trading pairs for various Solana ecosystem-related tokens and currently has 8 listed tokens. According to official data from Backpack, the 24-hour trading volume of the SOL/USDC spot trading pair exceeds $900 million, surpassing the total trading volume of the top two SOL trading pairs on Binance (SOL/USDT and SOL/FDUSD).

Related article: “What is Backpack? Get to know the security-focused Backpack exchange in five minutes.”