How To Get Backpack Airdrop: A Comprehensive Guide To Earning Rewards

April 3, 2024 - Around 4 mins mins to read

Backpack Exchange is a CEX platform developed by Coral, the team behind Backpack Wallet and NFT Mad Lads. Based on transaction volume, the “Point Rewards” program may be airdropped to users early. Join CoinCu to learn how to get a backpack airdrop!

How To Get Backpack Airdrop: A Comprehensive Guide To Earning Rewards

Table Of Contents

What Is Backpack Exchange?
Fundraising And Backer
Backpack Airdrop Guide: Step By Step
Conclusion

What Is Backpack Exchange?

Backpack Exchange, a crypto infrastructure company developed by Coral, is a Centralized Exchange (CEX). Utilizing a Zero-Knowledge Proof (ZKP) storage solution paired with multi-party computation (MPC), it offers a secure and swift method to verify transactions across various platforms. In February 2024, the exchange reported over 6.5 billion USD in trading volume. Its “Point Rewards” program, which rewards users based on their trading volume, has drawn an enthusiastic community keen on receiving airdrops.

Fundraising And Backer

Backpack has successfully raised 37 million USD from 2 funding rounds

Strategic round: Backpack successfully raised 20 million USD in September 2022 from investment funds such as Jump Crypto, Multicoin Capital, and more
Series A: Backpack successfully raised 17 million USD in February 2024, increasing the company’s valuation to 120 million USD from investment funds such as Placeholder, Amber Group, Wintermute, etc. Backpack will use this money to serve the future expansion strategy for Backpack Exchange.

Backpack Airdrop Guide: Step By Step

Following the success of “Volume Matters Phase 1”, Backpack Exchange is launching “Volume Matters Phase 2”. The reward for this event will be $TNSR, the official token of the NFT exchange, Tensor. Here are the specifics:

You must first participate in the Tensor Adventure program by downloading the Backpack Wallet, placing at least one trade on Tensor, and linking your wallet to your exchange account between March 26 and April 6. (We will soon be able to offer wallet linking)
Also, from March 26 to April 6, trade as much volume as possible on Backpack Exchange (excluding the USDT/USDC pair) – similar to Volume Matters Phase 1.

Let’s now delve into how to do it correctly below

Step 1

You need a wallet on Backpack Wallet. You can learn how to register a Backpack Wallet here. Afterward, visit Tensor at tensor.trade and connect with the Backpack Wallet.

Step 2

Select the NFT collection you wish to trade. In this case, we will choose the OPEN SOLMAP collection and proceed with the purchase.

Step 3

So, it’s official – I’ve successfully purchased one SOLMAP to complete the “Tensor Adventure” task. Let’s now proceed to the Backpack Exchange to boost our trading volume.

Step 4

Start by navigating to the backpack.exchange website using your preferred internet browser. Log into your account to proceed. If you have an account with us, input your login credentials in the appropriate fields. If you forget your password, there’s an option to reset it.

If you don’t have an account with Backpack Exchange, don’t worry. We provide detailed instructions on how to create one here.

Step 5

Depositing funds is easy. Select “Deposit” on the platform to display your wallet address, where you can send USDC or SOL from networks like Binance, OKX, and Bybit.

To transfer, copy this address into your chosen exchange, ensuring accuracy as transactions are irreversible.

If you have coins in your Solana wallet, choose “Deposit From Wallet” to deposit directly from the Backpack wallet, skipping the transfer step to an exchange.

Step 6:

To start the process on Backpack Exchange, find the “Trade” option in the top right corner or select the centrally located “Trade Now” button.

Select your desired trading pair and start spot trading. Use “Limit orders” for specific prices and “Market orders” to trade at current prices. Monitor trading volume at the bottom right. Backpack Exchange currently only supports USDC trading pairs. (Please note that the USDT/USDC pair will not be included in the volume calculation.)

Conclusion

Backpack Airdrop, a CEX platform by Coral, launched a “Point” rewards program based on trading volume. This is gaining popularity, sparking “Backpack Review” discussions and rumors of an airdrop for early users.

CoinCu rates this as a top-tier project in the rising Solana ecosystem alongside big players like Jupiter. Trading on this CEX exchange is a smart move to earn points for upcoming airdrops. Keep an eye on the Backpack airdrop – it could be the next big thing in our Backpack Review.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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