Solana ecological trading platform Backpack announced on Sunday (18th) that its trading volume in the past 24 hours has exceeded 1 billion US dollars on the X platform. The exchange launched the pre-season on February 14th, and user trading volume will be a key factor in their “Backpack Ranking.”
Backpack founder Armani Ferrante expressed on Monday that he deeply felt the enthusiasm from users on the fifth day of the pre-season. 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 certain airdrop content on the Internet, Backpack’s Chinese X account also clarified that the purpose of trading activities is to reward real users and encourage more real users to experience their products. For malicious brushing behavior, Backpack will strictly monitor and reserve the power 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 ecological-related tokens and currently has listed 8 tokens. According to official data from Backpack, the trading volume of the SOL/USDC spot trading pair exceeded 900 million US dollars in the past 24 hours, 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.”
