Following a string of notable airdrops within the Solana ecosystem, including Pyth Network, Jupiter, and Jito Network, among others, attention turns to identifying the next promising project for potential airdrop opportunities within this ecosystem. This article by Theblock101 aims to provide guidance on participating in the Backpack Exchange airdrop, a centralized exchange tailored specifically for Solana.
Backpack Exchange stands as a centralized exchange platform tailored explicitly for Solana, a blockchain ecosystem. Currently, the exchange facilitates trading solely among token pairs native to Solana.
The development of Backpack Exchange is spearheaded by the Backpack team, which is renowned for its creation of other Solana-based products like the Backpack wallet and the Mad Lads NFT collection. The Mad Lads NFT collection is particularly notable, being esteemed as a blue-chip collection within the Solana network, with individual NFTs fetching high valuations.
Since its pre-season launch on February 13, 2024, Backpack Exchange has witnessed a significant surge in trading activity. Notably, on February 18, the exchange recorded a 24-hour trading volume exceeding $1 billion USD.
Among the investors backing Backpack Exchange is Coral, the development team behind the highly successful Mad Lads NFT collection on Solana.
Coral successfully secured $20 million USD in a strategic funding round, led by prominent investment firms like FTX Ventures and Jump Capital. Additional participation was seen from notable funds such as Multicoin Capital, Anagram, and K5 Global.
Step 1: Register an account on Backpack Exchange
- Access: https://backpack.exchange/signup
- Enter your email address and password, then select “Sign up” to proceed with registration.
- Enter the verification code from your email.
- Proceed with KYC (Know Your Customer) verification.
Step 2: Deposit Funds into Backpack Exchange
- Prepare USDC on the Solana network (in wallets like Phantom or Backpack).
- Select “Deposit” in the top right corner of the screen.
- Choose USDC as the asset and deposit funds using the address provided by Backpack Exchange.
Step 3: Execute Trades on Backpack Exchange
- Click on the “Trade” section.
- Select the trading pair, preferably SOL-USDC for optimal liquidity.
- Check the trading volume in the top right corner of the screen.
Step 4: Invite friends using your referral link to receive 30% of the trading fees from referred users.
Above is not all the information about this project, Wanna know more about this trend? Read at Theblock101.com!
Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.
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