Backpack CEO Armani Ferrante rarely mentioned FTX and Alameda, stating that they will learn from their bankruptcy lessons and focus on establishing transparent and robust risk management mechanisms to safeguard user funds. Armani stated that Backpack does not operate its own market makers, and clearing is mainly done on the order book (99.82%) to reduce conflicts of interest. At the same time, he introduced a three-step clearing process: order book priority, backup liquidity, automatic deleveraging, supplemented by mechanisms such as price shock bands, to control the adverse effects of market fluctuations on users. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=40765