Talking about my Backpack journey

1. I have been optimistic about Backpack since it launched at the end of 2023, believing that what BP is doing is the next generation financial platform. All of my accounts are among the first batch registered, and I have been continuously engaging in normal trading, saving, market making, and lending.

2. I am also a longtime member of the Madlads community, and during the peak at 150-200, I bought nearly ten lads.

3. Since the initial rough page of Backpack only had spot trading and the liquidity was extremely poor, I have been participating in market making for Backpack, providing liquidity to the team free of charge and contributing to trading volume. Over 95% of my trading volume is from limit orders, being the one that gets filled; anyone with a bit of trading knowledge knows what this means for an exchange.

4. During the wave on October 11 last year, I had some accounts liquidated due to market making, which turned into losing money while market making. I initially thought I could recover some losses after receiving the airdrop through points, but in the end, all my accounts had zero, yes, all zeros.

5. After inquiring with staff member Abao @Abao_backpack, he informed me that all my accounts were banned due to account association violations. This is very absurd; since I started market making, I had chats with Backpack insiders and asked if there was a market maker support plan. The reason for my multiple accounts is that I needed one account for market making for one cryptocurrency to cope with API rate limit restrictions and better observe the trading volume and profit/loss for different cryptocurrencies. It was a completely reasonable market making behavior, and the points themselves are proportional to trading volume and fees, so having multiple accounts did not bring any profit. I simply cannot understand the Backpack team's unprofessional and unreasonable blanket approach.

6. All my accounts were registered with my and my family's identity information. I have never purchased KYC, rented NFTs, or engaged in any self-trading or score manipulation activities.

7. Looking at my past messages, you can see that I have always been optimistic about what Backpack is doing; the vision is very beautiful, but the team is truly not professional and too outrageous. A real user who has supported since day zero and has contributed with real money and practical actions to the trading experience of Backpack has become what they call a banned account, and after waiting more than a thousand days for the TGE, I ended up with nothing and became a fool.

This is exactly what this ridiculous exchange does; I don’t care whether these tokens can be retrieved. I will criticize BP every time I see them; it’s disgusting and outrageous.

@Backpack @Backpack_CN @armaniferrante @CZ101010

#Backpack

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