Why you should be farming the @Backpack Exchange (Perps products) Raised 37M, valued at 120M (although lost 14M in the FTX crash) Beta phase recently finished, S1 started March 21st and will last 10 weeks Bought out FTX EU for 32.7M = They are now the only MiFID II-licensed Exchange, offering derivatives to the Europe Union, also refunding European FTX clients Other exchanges are forced out of EU Madlads are still top NFT on Solana Earn points by trading, lending, or add liquidity 10M points distributed to all users weekly, how points are allocated specifically is blackbox / constantly changing = HL playbook = gud 50M retroactive points was given to ~475k users = around ~105 points/user on average = easier to get points now there are only ~20k users Points are Updated / reset every Friday ------------------------------ How to maximize points According to data aggregated from users by @cryptokings08 https://x.com/cryptokings08/status/1907454453763936311 Borrowing is a good way to earn points currently: Lending (supply): ~1 point per 100. Borrowing (borrow): ~16 points per 100 For trading: Futures: Positions held for more than 1 hour = 2x more points as "short term trades" Spot: for spot volume you'll earn roughly 20% less points if you had that same amount of volume on futures Up to 30% more points if your profitable on your trades Up to 200 points / week for daily activity Balance holding: simply keeping funds in the account yields about 0.2 points/ 100 ------------------------------- What the Strategy TLDR Mix borrowing (1-2k) using stablecoins with SPOT trading (50,000+ in trades volume) This strategy netted 2,000 points in a single week, costing only 1. You can use the follow ref code to save on trading fees: insightful