Morning! @Backpack's S3 Week 3 results are out. This week, 14 million trading volume only got me 7,800+ points. Last week, it was still 1,500 trading volume per point. The week before that, it was 800 trading volume per point. In the previous S2 season, it was even 500 or 300 trading volume per point. I didn’t participate in S1, but anyway, we’re now at the most competitive stage in history. All perp users are going all out. Right now, it’s 1,783 trading volume per point. I have a mad NFT, and for non-standard trades purely for farming points, the cost per point is 1,783 * 0.026% = 0.46 in fees, minus the 45% rebate, which comes out to 0.25u/point. Then Backpack occasionally drops an airdrop or something, bringing the cost down to around 0.1u/point—totally acceptable. Opening and closing trades instantly causes some slippage, so I usually wait a few seconds before closing. After enough trades, the profit and loss basically balance out. There are 7 weeks left. Next week, I’ll quickly add another 30 million trading volume, and I’ll hit the 50% rebate tier—the highest level. If S3 ends with a token launch and there’s a total of 300 million points, no matter how you look at it, it should be 1u per point, right? Perp isn’t giving us much time! If you haven’t linked your account yet, bind it to mine—full rebate! https://backpack.exchange/join/galaxy