Backpack exchange Confirmed that season 2 of its points program will start on July 3, 2025, as announced by various articles on X. This is following the success of season 1, which started on March 21, 2025, and worked for 10 weeks, rewarding users with points according to their activity. Season 2 should extend access to European users and can introduce new ways to earn points, potentially thanks Vault of backpack, similar to hyperliquid hlp System, allowing users to cultivate points without exchanging in the long term.
The program aims to encourage user engagement and the growth of the platform, with points distributed each week depending on the activity, although specific criteria remain intentionally opaque. The launch of the season 2 points program of Backpack Exchange on July 3, 2025, has several implications for the platform, its users and the wider crypto ecosystem, especially when you consider the potential fracture in user activity. The points program of season 2, such as season 1, rewards users according to their activity (for example, trading volume, portfolio interactions or new potential features such as Backpack Vault).
This gamified approach encourages users to negotiate more frequently, to deposit assets and to engage with the ecosystem of the platform, to stimulate trading volume and liquidity. Season 1 saw an exchange of backpacks reaching 27.5 billion dollars in total volume during its beta phase, which suggests that season 2 could further increase these measures. With the acquisition of FTX EU And plans to offer perpetual future regulated in Europe from the first quarter of 2025, season 2 can attract a wider user base, especially in Europe. This could improve the global presence of backpack and competitiveness against exchanges like Binance or Kucoin.
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The point system is largely speculated to be a precursor of a future token department, similar to the hyperliquid model. This anticipation could stimulate speculative trading, because users aim to accumulate points for potential awards, the increase in the activity of the platform but also the volatility of the market. The points won in season 2 can be exchanged for advantages such as reduced costs, exclusive promotions or advanced trading features. The classification system on several levels (challenger bronze) promotes a feeling of prestige, encouraging users to climb the ranks for better advantages.
The unique Backpack offers, such as term contracts and car loans, allow users to obtain passive income alongside points, potentially attracting both active merchants and long -term holders. This could differentiate the backpack of competitors like Binance, which require distinct accounts for similar features. The ecosystem of the backpack, including its wallet and Crazy guys nft Collection, alignments with the growing social trend on Solana. Season 2 can introduce quests or rewards linked to social platforms, allowing users to monetize digital content or identities, further diversifying engagement opportunities.
The use by backpack of cryptographic techniques (for example, evidence of zero knowledge, a multipartite calculation) and its Virtual active service provider (VASP) The Vara de Dubai license improves its reputation as a secure and regulated platform. The expansion of season 2 in Europe under Mica regulations could consolidate the confidence of users, especially after the collapse of the FTX, in which the backpack lost 88% of its treasure. From May 12, 2025, Backpack will distribute funds to former FTX EU users, potentially incorporating these users into the points program of season 2. This could stimulate the acquisition of users, but also create logistics challenges in payments management in parallel with the integration of new users.
The structure of the points program of season 2, although designed to reward engagement, can exacerbate a gap between users with high activity and low activity, creating both opportunities and challenges. Users with high negotiation volumes (for example,> $ 5,000, as suggested for air map eligibility) or those who engage in term contracts and SocialFi The features will probably earn more points and higher ranks (for example, Platinum, Diamond, Challenger). These users benefit from lower costs (0.085% manufacturer, 0.095% lessee compared to industry on average 0.1%), exclusive advantages and potentially larger airlines.
High -activity users stimulate a significant volume of trading, contributing to the liquidity and visibility of platforms. Their participation in competitions (for example, $ 60,000 to $ 90,000 in volume and NLP awards) further amplifies their impact, potentially distorting market to their strategies. These users are more likely to take advantage of the future interests of Backpack and transversal margin accounts, maximize yields and consolidate their domination in the point system.
The opaque criteria for gaining points can disadvantage users with lower trading volumes or limited capital, as they find it difficult to compete with whales for higher ranks. THE Kyc Process and learning curve for features such as Futures or Socialfi could further dissuade newcomers. Users with low activity can only reach lower ranks (for example, bronze, silver), restricting access to premium advantages. This could lead to a perception of inequality, where only high volume traders harvest significant rewards, potentially discouraging a wider adoption.
While Socialfi’s features could appeal to retail users, the technical complexity of blockchain-based platforms and high solara gas costs (although it is lower than Ethereum) can limit participation to those who do not know DEFI or NFT. Backpack’s intuitive interface and the cross margin account simplifies trading for newcomers, reducing the complexity observed in platforms like Binance. Season 2 could introduce quests or bonuses suitable for retail users, such as low -volume trading competitions or tasks based on wallets.
THE Mad Lads NFT and Socialfi collection Integration promotes a feeling of community, potentially making the gap by rewarding non-traditional activities such as content creation or platform references. As a platform based in Solana, the success of Backpack could strengthen Solana’s ecosystem, often compared to “Binance of Solana”. The rewards of season 2 can stimulate the adoption of solara -based assets (for example, soil / USDC, Mad LADS NFTS), increasing the activity and the value of the network.
By offering lower costs, term contracts with interest and a point system, the backpack challenges established exchanges. However, the fracture of the user activity could limit its ability to compete Binance or Kucoin If retail users feel marginalized. The promise of precious aerial value (potentially worth $ 5,000 for active users) could attract speculators, but low competition in season 2 suggests an opportunity for early adopters. The long-term success depends on the balance of awards with the sustainable growth of the platform to avoid a scenario of “pump and-dump”.
Although the backpack points program encourages growth, the lack of transparency in the points allocation criteria raises concerns concerning equity. High activity users can dominate rewards, potentially alienate retail users and create a perception of exclusivity. In addition, the speculative nature of the parameters focused could lead to unsustainable trading volumes if they are not associated with an authentic platform utility. The backpack must carefully design season 2 to include low barrier tasks and clear communication to ensure large participation, especially as it develops in Europe and incorporates FTX UE users.
Lance of season 2 on July 3, 2025, positions Backpack Exchange to stimulate user engagement, platform growth and the development of the Solana ecosystem. However, the user activity division – between merchants and high -volume retail users – could broaden if the rewards strongly promote whales. By taking advantage of its user -friendly conception, its social integration and its educational resources, the backpack can reduce this division, promoting inclusive growth.
