Backpack provides a platform for trading cryptocurrency, managing assets with a wallet, and engaging with NFTs on Solana. The Backpack Season 1 Points program is live, allowing users to earn possible airdrop rewards by staying active, trading on the exchange, and using the auto-lend feature for passive points. Here is our Backpack token airdrop guide.
Check out our step by step guide!
What is Backpack?
Backpack is a comprehensive cryptocurrency platform offering a regulated global exchange for trading, a self-custodial wallet for managing digital assets, and an NFT collection called Mad Lads on Solana. It supports users across 150+ countries, has facilitated over 500 million transactions, and provides features like futures trading and an auto-lend option for earning passive points.
So far they have raised US$37 million with a US$120 million valuation. Notable investors of Backpack include Placeholder Ventures, Wintermute, Jump Crypto and Amber group.
How to get the Backpack token airdrop?
Time needed: 15 minutes
Here is a guide on how to get the potential Backpack token airdrop
- Sign up
Go to Backpack Exchange and create an account. You will need to pass their KYC process using your government ID and to do a face scan. Note there may be restrictions on signing up or using the platform based on your jurisdiction.
- Deposit funds
Deposit some funds into your Backpack Wallet account. You can choose from USDT, USDC, SOL, ETH, or BTC. Please note that as the Backpack Wallet has already been launched, you will be depositing and using real funds.
- Enable auto-lend
Enable auto-lend on the platform. This allows you to earn Points passively on idle funds.
- Increase trading volume
To earn maximum points, focus on increasing your trading volume. Whether it’s spot or futures trading, keep your trading activity on Backpack Exchange high. Frequent small trades are better than one big trade. Note that you will not earn any points for simply holding funds without trading.
- Use trading strategies to maximise trading activity
Spot trading is a low risk and beginner friendly method to maximising trading activity. Simply trade SOL/USDC pairs repeatedly. For more advanced users, they can consider using low leverage trades (i.e. 1-2x) frequently.
- BONUS: Get 2 airdrops in 1!
We suggest using Backpack Wallet to farm any Solana airdrops so you can get 2 airdrops in 1!.
- Deposit and withdraw tokens
Depositing and withdrawing tokens on the platform keeps the exchange alive. It also allows you to earn Points.
- Check progress
Go to the “Rewards” tab to track your progress. Points are distributed every Friday at 2:00 PM UTC.
- Beware of bans
Backpack actively looks for and bans those who take shortcuts to get Points. For example, having multiple accounts or zero-fee trades and. Also, if you refer others, they must trade in order for you to earn Points.
