Growth @Backpack. (Ex-Bybit, ex-Deribit.) Opinions are my own. Exchange: backpack.exchange/signup App: backpack.app/downloads
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Last week a Backpack tokenized stock out-traded its own NYSE listing β and almost nobody understands what actually happened.
Real stocks. Onchain. Redeemable. The full story π
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Markets tanking on a Saturday? There's now a hedge for that.
$SQQQ (-3x Nasdaq-100) is live on @Solana β real shares issued by Backpack Securities, redeemable 1:1, transferable to any TradFi broker.
The first onchain way to short the Nasdaq with a real ETF. π
LFG
Issued by Backpack Securities, $SQQQ is now listed on @Solana with @Sunrise.
βΈ Redeemable 1:1 for ProShares UltraPro Short QQQ shares
βΈ Transferable to traditional brokerages
The ProShares UltraPro Short QQQ seeks daily investment results that correspond, before fees and expenses, to -3x the daily performance of the Nasdaq-100 Index.
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Read This about Backpack. And share.
frictionless.capital/articleβ¦
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Blockworks compared realized execution on $100β$20,000 trades in Backpack SPCX vs. xStocks SPCXx.
The result: Backpack delivered better execution across both sessions.
β 1.23 bps cheaper during regular market hours
β 2.42 bps cheaper overnight
Benchmarked against SIP NBBO by day and Blue Ocean BBO overnight.
Better execution matters.
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Weβve opened up the Backpack Affiliate Program.
Iβve already received quite a few questions about it. If youβre interested in joining, send me a DM and Iβll see if I can get you onboarded.
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Some people were surprised. I can tell you: everything is executing exactly as planned β jurisdictions, new features, and how it all comes together in one account.
Stakeholders got a glimpse of what we're working on. There's more coming, and our goals will be met.
We keep marching > in good times and bad, whatever anyone says.
One goal: build Backpack into the best exchange there is.
Great to see everyone excited. We're just getting started. π
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Luc | Backpack π retweeted
π New #listing
π $BP (Backpack) will be listed on LBank! @Backpack
All-in-one crypto wallet and exchange.
β€οΈ Details: lbank.com/support/articles/2β¦
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He is right!
Allright the bar just became higher
From now on if a token doesn't give me a stakeholder update I don't want the token
Bullish on @Backpack π
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Luc | Backpack π retweeted
Trade crypto & all perps. Pick your stock π
Earn up to $1,000 in Meta $META or Alphabet $GOOGL shares.
Live now: backpack.exchange/quests?id=β¦
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Luc | Backpack π retweeted
.@KyleSamani on Cointelegraph, on tokenization and the shift to crypto-native markets.
βThe tokenization cycle does continueβ¦ All of the structural tailwinds are there.
And I think youβre going to see an explosion of social trading and just new, more sophisticated ways to trade, all built on top of crypto rails.β
Tokenized stocks. Solana. Crypto-native trading apps.
Build on Backpack π
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Luc | Backpack π retweeted
I think I need a small bag of $BP.
Breaking: solana:BPxxfRCXkUVhig4HS1Lh7kZqV6SPJhzfEk4x6fVBjPCy surpasses ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 in total Tokenized stock DEX volume by ~4x
At the same time, Backpack is valued at 10% of ONDO
Either the market is inefficient and BP is ripe for a strong re-rating or ONDO is extremely overvalued at these levels and will break down.
Tokenized stock issuers are at war. Donβt forget about the power laws.
The winner will take a lionβs chunk of the market.
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