think @Backpack is by far the most underrated exchange, it's not close no fee on/off ramps for fiat, transparent reserves for borrow/lend, and even zec support (even shielded!) and now finally stocks onchain done right super receptive to feedback always recommend highly

We’ve been so busy with product announcements that we haven’t had a chance to give updates on Europe. We’re ready, and we’re coming. 🎒

𝗢𝗥𝗔𝗡𝗝𝗘 𝗙𝗘𝗩𝗘𝗥 - an Oranje original 🟠🎬 #NothingLikeOranje #FIFAWorldCup

All in your Backpack 🎒

Public Beta is live. Trade real US stocks and ETFs alongside crypto, perps, and yield, all within one account. Real ownership under New York law. Cash dividends, brokerage transfers, and corporate actions rolling out during Public Beta. 24/5. Instant execution. Traditional market liquidity. No fees in June: backpack.exchange/stocks

Will share more on this soon. It’s been over three years in the making to get to this point, but the holy trinity has been achieved. The only other exchange in the world that has gotten regulated perps, spot, and payments live in the EU is Kraken. The other will be Backpack. We’re coming Europe.

In this Backyard, it’s “win or go home,” and this crew hasn’t left since the 90's. Where there’s a pitch, there’s a legend. #YouGotThis

On FUD. FUD is an opportunity to either address misunderstandings or to identify mistakes and simply fix them. With every TGE, emotions run hot, as people focus on a single number, the token price, determining one’s feelings. It’s human nature, and because Backpack has such a large community around the world, spanning from advanced traders in Asia, to wallet users on every network, Mad Lad holders around the world, and everyone in between, the TGE is a time where people vocalize their views. I would like to address several different topics I’ve seen floating around over the past few days to set the record straight and offer my perspective. - OTC. I can’t believe I have to say this, no, we aren’t OTCing our own tokens to cash out. See the tokenomics. Fake news. End of story. What is true: buyers reached out to me and asked for OTC. I am happy to help buyers find more tokens. Unfortunately, due to the bad history of other crypto projects using OTC to cash out, folks assumed the worst when they saw me post about OTC in discord. - Mad Lads. All existing Mad Lad holders pre-TGE retain their Backpack VIP status. New holders do not. Some like this, some hate this. I understand both perspectives. My perspective is that Mad Lads has always been an evolution alongside Backpack. We went from the whitelist games inside Backpack => pre-reveal inside Backpack => reveal boss inside Backpack => xNFT inside Backpack => airdrops inside Backpack => VIP points inside Backpack => the BP token. Each one of these stages created a clear path for Mad Lads to get to the next stage, always focusing on long term holders over people that come and go. There are people that follow the path, and people that do not. There are people that evolve with us and people that do not. Our approach from the day Mad Lads was born has always been to focus people on the Backpack product. Naturally, new people came into Mad Lads with their own pre-conceived notion of what it was or what it should be. This creates tension. But we have always had a strong vision and we will always stick to it. The people that use the product always get to the next stage, where every stage answers a single question: how do we push Backpack forward. When designing token utility, it’s a question of economics, and it would be a disservice to BP to not align incentives around it. There’s an additional nuance worth pointing out: Backpack is different from basically every other product that dropped a mined token because we KYC users and are selective about the regions we open up. Those users have been out of the game, so to speak, not because I want to do that–nothing upsets me more than not being able to serve users in a particular region (what founder would want that?)--but it’s because we have chosen the path of building a crypto native financial institution. That path is long and hard. For these users, we have maintained the path to get to the next stage and have communicated that. When we open up regions, these regions will get their drops, and we will be running new campaigns to get more drops just by using the product, and that brings everyone up to speed with the same VIP benefits of the original pre-TGE seasons. For the long term holders, nothing has changed. The key issue is with respect to new NFT holders. Some people will hate this. Some will think it’s sound economics. I understand both perspectives. We are doing what we think is best. - Sybills. Our goal was to protect retail users competing for points against sophisticated players splitting accounts and giving themselves an unfair advantage over those that don’t. The mistake we made: our process was too black and white. From the team’s point of view, we had a line and we stuck to it. From the community’s point of view, the line is nuanced. We did not sufficiently take that into consideration. - Price/FDV. With every token comes the human nature to think about the price at all times. There are good ways to think about price and there are clearly illegal ways to think about price. Our position is simple, we are building over a long period of time, and we are not making short term decisions. 24h post-TGE FDV is not a meaningful metric. Even 1 week post-TGE FDV is not a meaningful metric. If you ask anyone that’s ever built anything, they’ll tell you the same. Many people will take issue with that statement, and that’s ok. Ultimately, you have to look at our incentives and decide for yourself. The fact of the matter is that the team and I are incentivized to make Backpack a success with arguably the most extreme tokenomics ever created. What happens if the token goes to zero and stays there? Our company fails, and we get nothing. Some people might rebut saying that we get rich from the company revenue. No. That is simply not how companies work. We don’t get rich from a bad token price. We are punished in the most extreme possible way. And we are rewarded in the most extreme way only if we achieve all of our hopes and dreams. The way it should be. This is by design. Beyond this post you won’t see me talk about price or FDV. You will see me talking about building and creating long term value. And it’s only by doing that, can BP become a success. Every project goes through trials and tribulations. This is certainly a moment for us. We are nothing without our community, and we will serve it in the best way we know how. I have complete conviction, I am all in, and the team is all in. Don’t trust us, look at the tokenomics to decide for yourself. Thank you for reading this. Thank you especially to those that have supported us this week. It means a lot. We will continue to review the above, particularly the cases around sybils, and get back to building.

Mistakes have been made that’s part of building. We fall and get back up, and we’ll only come back stronger. But if there’s one person I trust, it’s @armaniferrante . This man is working around the clock to make his vision a reality. Never fade Armani!

I stand with MadLads. NFTs haven’t been doing well, but you can’t fud MadLads after everything they’ve done for Solana and its holders. Fud NFTs or Solana as a whole if you want, but don’t fud one of the most legendary nft projects. If you’re going to fud @MadLads, name one Solana NFT project that has done things better than them. You literally can’t. If MadLads are the most successful, they’re doing the least wrong. The fud is undeserved. Zoom out. The bull run is gone. Floors are down. Most communities disappeared when prices fell. So, who has actually done it better than MadLads? If you think you can do better, start from scratch. Build something and match their results.

GN. Excited for our regulated Europe launch soon. 🎒Stocks are coming. 🎒Card is coming. 🎒EUR on-ramping is coming. 🎒 And more.... We are building to become the go-to platform for modern finance in Europe. With some of the strongest licenses in the market, we are not just entering crypto. We are entering stocks and derivatives too. And we are not coming with average products. We are coming with the best product and the lowest fees. We are not aiming to be just another crypto exchange. We are going after the broader brokerage market as well.

BREAKING: $BP, the official @Backpack token, is live on Solana

Thank you @Backpack Staked all!!

TGEを直前に控える @Backpack 今 ファウンダー・CEOの @armaniferrante は何を思うのか？今後の成長戦略と新規プロダクトの全容とは？米国・日本・EUそれぞれに期待する理由。 そして、なぜトークンの株式転換を行うのか？🎒 Backpackが解決する課題と提供する価値の根源が明確になるこのロングインタビュー。Backpackは暗号資産取引所の概念を根底から覆します。 _______________ 00:00 イントロダクションとArmani氏紹介 00:48 TGEについてどのように感じているか 01:35 現在の金融システムの歴史と課題 05:32 現代の株式市場における新たな問題点 08:24 ブロックチェーンがもたらす金融市場の革新 13:00 トークンの株式交換をする理由 19:38 TGE後の計画：トークン供給について 22:40 期待の新プロダクト①：Prediction Market 26:20 期待の新プロダクト②：本物の株式取引機能の提供 33:35 株デリバティブ商品ではなく本物の株式商品にこだわる理由 36:40 President of Backpack US参画と米国市場への期待 39:40 日本市場への期待 43:18 EU市場への期待 45:13 少人数でこれだけのプロダクトを作れている理由 4915 企業買収ではなく、「自社開発」で構築する理由 54:03 Backpackユーザーへのメッセージ

Go big or go home 🎒

You wouldn't offer to give 20% of your company for your own token if you don't want your staked token to be worth at least 20% of your company's value... If you understand this, you understand that @Backpack is creating a new and exciting standard before our very eyes.

Most tokens sell promises. Backpack is experimenting with something different: Stake for 1 year → earn equity (20% of the company allocated). Less hype. Real ownership. If crypto is going to mature, models like this are the path forward. @Backpack @MadLads

I didn't come into crypto 9 years ago to launch a shit coin. I didn't come into crypto to get rich quick. I came into crypto because I believe it's going to change the world, and that the industry was something worth dedicating my life to. But somewhere along the way, amidst the booms, the busts, the moonshots, the decentralization theater, and the straight up scams, we lost our way. I don't know about you, but I'm just tired of false promises. And that's what most things are today, simply promises. We live in the most centralized era crypto has ever experienced, and the more centralized something is, the less meaningful a token is. While it's tempting to want to commit to these same promises, what happens if the team gets acquired? What happens if we want to re-invest into growth? What happens if we divert our time, energy, and resources out of band and circumvent the token altogether? What happens when the team and investors unlock? For many projects, the honest answer to these questions is not pleasant, and you see it in the price chart over and over again. Unless something is completely decentralized to the point where an immutable protocol can function with the team having retired in the Bahamas sipping pina coladas all day, then utility is just a promise. Often that promise is admirable and well intentioned--but ultimately an unenforceable promise nonetheless. Outside of BTC, ETH, SOL, and a few others, nothing really passes this test. Noble new token models have emerged to solve this problem (shout out to MetaDAO), and today, we introduce our own. Users that stake the Backpack token for at least a year will have the opportunity to exchange those tokens for equity at a fixed ratio--20% of the company today. It's such a simple idea, but as far as I'm aware, this is the first time a user has been able to earn the equity of a company by just using the product. So obvious in hindsight, and something I hope others start to adopt as they march on their path to progressive decentralization--both in crypto and outside of the industry. We have a lot more utility coming, things we'll share over the coming weeks, months, and year. As the Backpack community grows, we will decentralize the token, offering new things over time, some centralized like our equity offering, some decentralized as our product evolves. In the limit, I expect the token to represent more than anything a single company has to offer, but in the short run, it's the best we can do to show our long term commitment to our users. I've said it before and I'll say it again. I can't promise anything. The only thing I can promise is commitment. We go big or we go home--together, actually together.