Forgetting your password can be frustrating, but we have made the process of resetting it straightforward.

Note: Please be aware that for your security, withdrawals may be temporarily disabled for 24 hours after a password reset. ‍

Here's a step-by-step guide to help you regain access to your account: ‍

1) Access the Login Page

• If you can't remember your password, don't worry. Just look for the "Forgot Password" link.

2) Click on "Forgot Password"

• Once you click on the "Forgot Password" link, you'll be directed to a new page.

3) Enter Your Email Address

• On the reset password page, you'll be prompted to enter the email address associated with your Backpack Exchange account. ‍

• After entering your email, click on the "Next" button.

4) Check Your Email

• Backpack Exchange will send you an email with a link to reset your password. ‍

• Open the email and click on the "Reset Password" link.

5) Follow the Prompts

• Once you click on the link, you'll be taken to a page where you can set a new password. ‍

• Make sure to choose a strong password that you haven't used before.

6) Access Your Account

• With your new password set, return to the Backpack Exchange login page and sign in using your email and new password

And that's it! You've successfully reset your password and can now continue using Backpack Exchange. ‍‍

Remember to keep your password safe and consider using a password manager to store it securely.

At Backpack Exchange, safeguarding your account security is our top priority.

If you wish to change the email associated with your account, we have a stringent identity verification process in place to ensure the protection of your information. ‍

It can take up to 48 hours to complete a reset.

How to change email address for Backpack Exchange

‍

1) Perform Sumsub Liveliness verification

• After receiving a response from Support, follow the link provided and complete the identity verification on Sumsub.‍

2) Full Name and Address Confirmation

• ‍Provide the full name and address currently associated with your Backpack Exchange account.

3) Source of Income

• Share details regarding your primary source of income or occupation for verification purposes.

4) Transaction Details

Furnish as many specific details of all transaction and trades within your account as possible, including without limitation.

• Date of the transaction

• Name of the asset involved

• Quantity of the asset transacted

• Transaction hash or identification number

Process Overview

Upon receiving the requested information, our team will initiate a 48-hour hold on your account. This hold period allows us to verify the provided details thoroughly and ensure the security of your account.

Once the information is verified and the hold period expires, we will proceed with processing the email change request associated with your Backpack Exchange account.

Contact Customer Support‍

Should you have any questions or need further clarification regarding the email change process, please reach out to our customer support team at support@backpack.exchange. We are available to assist you throughout this process and ensure a smooth experience.

At Backpack Exchange, we are committed to maintaining the security and integrity of your account. Thank you for your cooperation and understanding as we work together to enhance your account security.

Mobile: Exchange and Wallet

Extension: Wallet

2FA Apps

Please browse our comprehensive self-service support articles below. If you're in need of direct help please don't hesitate to reach out to our team directly:

• For email support: support@backpack.exchange

1) Open your Portfolio

2) Switch to Trades tab

3) Select Export

4) View file in the browsers download menu

Take Profit (TP) and Stop Loss (SL) orders allow you to close your position once a certain price or profit/loss level has been reached.

TP/SL orders are currently only available on futures and use the last traded price (LTP) as the trigger price.

By default, TP/SL orders are sent as market orders upon triggering. Users can set a limit price for their TP/SL orders to control slippage. When a limit price is defined, a limit order at the specified price is created once the trigger price is reached.

Entire Position vs Partial Position TP/SL

Backpack offers two types of TP/SL orders: Entire Position and Partial Position.

Entire Position

Entire Position TP/SL means that the quantity of the order is set to 100% of the outstanding position size.

If a user sets up an Entire Position TP/SL for an existing position and later increases the size of that position, the TP/SL order will cover the entire updated amount when the trigger price is reached.

Entire Position TP/SL can only be created after the position has been opened.

Partial Position

Partial Position TP/SL have a fixed quantity. If a user sets up a Partial Position TP for 1 SOL, and they later increase their position size by an additional 0.5 SOL, the TP will only execute 1 SOL.

Moreover, in the case that a Partial Position TP/SL size is greater than the quantity of the outstanding open position (perhaps because the user reduced the position manually), the TP/SL will fill no more than that the open amount upon triggering.

Setting up TP/SL orders

There are two ways to create TP/SL orders:

1. On order entry (i.e. when creating an order)

2. On existing positions

Creating a TP/SL on order entry

When submitting an order, you have the option to specify a TP/SL price by checking the TP/SL box. Once you place your order, your TP/SL becomes associated with the parent order and will be created only when the parent order gets filled or partially filled.

All TP/SL orders created on order entry are considered Partial Position. This means that if you open a 1 SOL-PERP position with a TP/SL appended to it, the quantity of the TP/SL order will only be 1 SOL.

If you submit another order that increases your position size, you must specify a TP/SL price on that order as well if you want it to be covered by a TP/SL. The size of the existing TP/SL order will not increase automatically.

You can always create an Entire Position TP/SL after the position is opened, which will cover all subsequent orders for that position.

Additionally, if you submit a limit order that sits on the orderbook with a TP/SL associated with it, the size of the open TP/SL order will match the amount that has been filled. This means that if only half of your position has been filled, that amount will be the amount of the open TP/SL order. As the filled size increases, the size of the TP/SL order increases proportionally.

To illustrate all of the above, here’s an example:

1. SOL-PERP is currently trading at $130

2. User submits a 10 SOL-PERP limit order at $125 (the parent order), with a TP order of $132.

3. The parent order is placed on the orderbook. The TP order is associated with the parent order, but hasn’t been formally created as the parent order hasn’t been filled yet. This means that if the price of SOL goes up to $132, nothing happens because there isn’t a position open yet.

4. Price hits $125. The parent order gets partially filled by 5 SOL. A partial TP order at $131 with only a quantity of 5 SOL is created (rather than the full 10).

5. Price dips below $125, which means that the remaining 5 SOL is filled, and size of the TP order at $131 increases by 5 (for a total of 10).

6. Price roses above $131. TP is triggered and a market order is sent for 10 SOL-PERP.

Setting up TP/SL on open positions

Once a position is open, you can set up a TP/SL in the Positions tab by clicking on the edit icon. A modal will show up where you can create an Entire Position and/or Partial Position TP/SL.

If you close a position manually, all associated TP/SL orders are cancelled as well.

Additional Notes

1. While the Last Traded Price is used as the trigger/reference price for TP/SL, please note that the margin system uses the Mark Price for all equity calculations, as well as the estimated liquidation price.

2. For maximum flexibility, users are able to set up SL orders below the estimated liquidation price.

3. You may create Conditional Orders that are not associated with any position.

When trading on Backpack Exchange, it's crucial to understand the different types of orders you can place.

This guide will walk you through each order type and its purpose to help you execute your trading strategy effectively.

Order Types

Market Order

• Type: Market

• Description: A market order is executed immediately at the best available current price.

  • You specify the quantity of the asset you want to buy or sell, and the trade executes at the prevailing market price.

• Key Points: You must specify either a quantity or quoteQuantity when placing a market order.

  • No price setting is needed; the order will fill at the best available price.

  • Market orders are subject to slippage in fast-moving markets.

Limit Order

• Type: Limit

• Description: A limit order allows you to set a specific price at which you want to buy or sell an asset.

  • This order type guarantees the price but not the execution.

• Key Points: You need to set both a price and quantity for a limit order.

  • The order will only execute if the market price reaches your set limit price.

  • A limit order can be a 'maker' order if it doesn't match immediately with an existing order, adding liquidity to the market.

Post Only

• Field: postOnly

• Description: This is a conditional flag for limit orders that ensures the order will be added to the order book and not match with a pre-existing order.

  • If it would match, the order is canceled instead.

• Key Points:

  • Ensures the order will be executed as a maker order, contributing to market liquidity.

Time In Force

• Field: timeInForce

• Options: GTC, IOC, FOK

• Description: This determines the length of time your order will remain active before it is executed or expires.

  • GTC (Good 'Til Canceled): The order will stay active until it is filled or manually canceled.

  • IOC (Immediate or Cancel): The order must be executed immediately, and any unfilled portion is canceled.

  • FOK (Fill or Kill): The order must be filled in its entirety immediately, or it is entirely canceled.

Self-Trade Prevention

• Field: selfTradePrevention

• Options: RejectTaker, RejectMaker, RejectBoth, Allow

• Description: These settings prevent you from matching an order with another one of your own orders.

  • RejectTaker: Cancels the taker side of the trade if it matches with one of your existing orders.

  • RejectMaker: Cancels the maker side of the trade if it matches with one of your existing orders.

  • RejectBoth: Cancels both sides of the potential self-trade.

  • Allow: Allows both sides of the self-trade to execute.

Trigger Price

• Field: triggerPrice

• Description: This is used for conditional orders, such as stop-limit orders.

  • The triggerPrice is the price at which your limit order becomes active on the order book.

Detailed API Documentation

Understanding these order types and conditions will enhance your trading experience on Backpack Exchange. Choose the order type that aligns with your trading goals and market conditions.

We’ve recently introduced dynamic withdrawal fees and limits on Backpack. These are now updated every 12 hours based on notional market prices to ensure fairness and efficiency across supported networks.

Current Estimated Withdrawal Fees (As of Example Time)

These fees are estimated and can vary slightly with each update.

How Often Are Fees Updated?

Withdrawal fees and limits are automatically updated every 12 hours, factoring in real-time price fluctuations and blockchain activity. This helps maintain a balance between affordability and network security.

If you have any questions or notice anything unusual, feel free to contact our support team at support@backpack.exchange.

Backpack Exchange extends services to regions and countries across the globe.

Regions Not Served

We currently do not serve residents of the following countries and regions:

• North Korea

• Iran

• Cuba

• Syria

• Crimea Region of Ukraine

• Sevastopol Region of Ukraine

• Luhansk Region of Ukraine

• Donetsk Region of Ukraine ‍

Residents from these areas will not have access to the services provided by Backpack Exchange.

Please stay tuned if you are a resident of the following countries!

If you reside in any of the countries or regions listed below, we are not currently able to serve you, but we are working towards being able to do so in the future:

• Canada

• Japan

• Most countries within the European Union

• Singapore

• New Zealand

Note: Supported regions and countries are subject to change.

Withdrawals are fast and easy on Backpack Exchange.

How to Withdraw

1) Open the Withdraw menu

2) Choose the cryptocurrency you wish to withdraw and enter the amount

3) Enter the destination address or open 'Your Wallets' and select address

4) Enter your 'Email verification code' and 'Authenticator app code', select Submit button

1. Look for OTP code in your 2FA app (not email).

2. Sync your 2FA app device and Exchange login device to the same timezones.

3. Do you have multiple 2FA apps downloaded? Make sure you're checking in the correct one.

4. Make sure to open exchange using either our mobile app or desktop browser. (We don't currently support web on mobile.) ‍

If you cannot resolve OTP issues after verifying the above solutions please reach out to Support via support@backpack.exchange

Information regarding the Backpack Exchange VARA license including license number, licensed activities and names of all responsible individuals.

‍

License Number

License No. VL/23/07/001

‍

Licensed Activities

Virtual Asset Service Provider (Full Market Product) License

‍

Names of All Responsible Individuals

Sherif Eid, Head of Compliance

Nicholas Ting, Head of Operations

1) Open the Settings menu

2) Switch to the API Keys tab

3) Select 'New API Key' button

4) Name the new API key and select 'Generate' button

5) Record your API key and API secret in a secure location

API documents and clients for Backpack Exchange developers.

Backpack Exchange uses an automated KYC system to complete Identity Verification. ‍

In some cases the system flags an account for a manual review by the Backpack Compliance team.

• This can take up to seven days during high demand periods.

• If your KYC Identity Verification has been pending for more than seven days please reach out to Support via email.‍

1) Select the "Hide Some" toggle at the bottom of the Collectibles tab.

2) Burn individual NFTs inside of the Backpack Wallet using integrated Burn function located in top right corner of individual NFT view.

• Note: The integrated Burn function within the Backpack Wallet only works for traditional Solana NFTs, cNFTs are not burnable.

• Note: Sol-Incinerator is a third party tool which Backpack is not partnered with.

4) Send the NFTs to a "burner" wallet. You can easily create new wallets in your Backpack account to help manage this.

This guide provides a detailed overview of the required documentation for KYC verification.

To ensure the integrity and security of our platform, all individual and institutional customers seeking to trade on Backpack Exchange must complete our Know Your Customer (KYC) verification process.

Verify Individual Account Identity

1) Select the Individual account option type.

2) Enter your Country of Residence and provide full name, date of birth and address.

3) Provide details about your source of income and occupation.

4) Complete KYC Requirements

Note: Have your documentation prepared, you must upload scans or photos of each document.

Declare residency

Choose the appropriate identification document

Upload the front and back of your identification

Scan your face

Note: You can complete this step using a mobile phone.

Verify your documentation

Wait for identity verification to complete

Note: Verification is not always instantaneous.

Verify Institutional and Business Account Identity

Initiate Verification Process

1) Select the Business account option type

2) Enter your Country of Registration and operations location

3) Complete the rest of the Entity Information

4) Add and upload proof of documentation

5) Wait for verification to complete

Note: Verification is not always instantaneous

You'll need to register first before you can start trading on Backpack Exchange. Setting up your account on Backpack Exchange is simple and straightforward.

Create a new Backpack Exchange account (Mobile)

You'll need to register first before you can start trading on Backpack Exchange. Setting up your account on Backpack Exchange is simple and straightforward.

Download the Backpack mobile application

Initiate 'Create a new account'

1) Input a valid email address

• Note: You will need access to this account later in the registration process.

2) Create a strong and unique password

3) Review the User Agreement and Privacy Policy

4) Enter a Referral code (if applicable)

Verify your email address

You will receive an automatic verification code in your email. Enter this code within 10 minutes. If you don't see the email, check other folders like Spam or Promotions.

• ‍Note: Reach out to Support if the issue persists.

Begin the Identity Verification process

1) Choose your Country of Residence

2) Enter your Personal Information

3) Complete the Investor Profile

4) Record Alternative Contact information

5) Verify your identity

Create a new Backpack Exchange account (Desktop)

To get started, visit Backpack Exchange and select 'Sign Up'.

Note: Ensure that you're on the official Backpack Exchange domain

Select 'Sign up' and begin creating a new account

1) Input a valid email address

• Note: You will need access to this account later in the registration process.

2) Create a strong and unique password

• ‍Note: The password must be a combination of numbers and letters. It should contain 9-20 characters, at least one number, and one upper case.

3) Review the User Agreement and Privacy Policy

4) Enter a Referral code (if applicable)

Verify your email address

You will receive an automatic verification code in your email. Enter this code within 10 minutes. If you don't see the email, check other folders like Spam or Promotions.

‍Reach out to Support if the issue persists.

Begin the Identity Verification process

1) Choose your Country of Residence

Begin the Identity Verification process

There are several ways to Deposit crypto to your Backpack Exchange account.

Deposit via Backpack Wallet

1) Open the Deposit menu

2) Choose the cryptocurrency you wish to Deposit

Search for the token if you don't see it in list.

• ‍Note: Tokens must be on the Solana network for Backpack Wallet Deposits

3) Select 'Deposit from Wallet'

4) Enter the appropriate Wallet selections and Deposit amount. Select the 'Next' button.

5) Review the transaction details and select the 'Deposit' button.

6) Approve the transaction

Deposit via Exchange wallet address

1) Open the Deposit menu

2) Choose the cryptocurrency you wish to Deposit

Search for the token if you don't see it in list.

3) Copy the wallet address

Deposit via subaccounts

1) Open the Deposit menu

2) Choose the cryptocurrency you wish to Deposit

Search for the token if you don't see it in list.

3) Select 'Your wallets' button, open the Subaccounts tab and choose the wallet.

4) Enter Deposit amount and select 'Next' button

5) Select 'Deposit' button

• If it is a Banxa fiat deposit, please provide the transaction information.

Deposits

Delayed Transactions

• Cryptocurrency transactions necessitate a certain number of confirmations on the blockchain, and during times of network congestion, this process might extend beyond the usual duration. You can monitor the transaction status using a blockchain explorer for the respective cryptocurrency.

• Verifying that you’ve deposited a supported asset to the correct address is crucial, as errors here could lead to a loss of funds.

Minimum Deposit Requirements

• Some cryptocurrencies have specific minimum deposit requirements. Depositing below this limit could result in the funds not being credited to your account.

Solutions for Deposit issues

• Before initiating a transaction, double-check the deposit address to ensure it corresponds with the asset you are sending.

Withdrawals

Receiving Issues

• Withdrawals, like deposits, require a certain number of network confirmations, and this might take more time during peak network activity.

• Confirming the accuracy and compatibility of the recipient's address with the asset you are sending is crucial.

Pending Status

• A withdrawal marked as “Pending” indicates it is under review according to our security protocols. This is a standard procedure to safeguard your funds

Solutions for Withdrawal issues

• To track the status of your withdrawal, use the provided transaction ID on a blockchain explorer once the transaction is processed.

• For transactions that are unusually delayed or stuck in pending status, please reach out to our support team with the relevant withdrawal details.

General Recommendations

• Utilize 2-factor authentication to enhance the security of your account.

• Stay informed about any ongoing maintenance on Backpack Exchange or the network of the cryptocurrency involved, as this could impact transaction processing times.

Sticking to these tips will definitely make your transaction experience on Backpack Exchange smoother and hassle-free.

‍This is crucial to shield both you and the exchange from the risks of fraud, money laundering, terrorist financing and other risks.

That’s where the KYC (Know Your Customer) checks come in. We’ll ask you for some additional info through a simple on-platform questionnaire.

Please read through the requirements based on your country of residence to understand the necessary steps you need to take.

Standard KYC Requirements (applicable to most countries):

1. Provide your full name, date of birth, and address.

2. Provide details about your source of income and occupation.

3. Upload a clear and valid identification document.

4. Complete a liveness check to verify your identity.

These standard requirements might be tweaked for certain specific countries. For example, residents in India, Brazil, Argentina, Indonesia, Nigeria may complete their identity verification via local governmental digital identity initiatives.

In certain countries, like Australia and the United Arab Emirates, additional information may be required such as a proof of address.

We do not serve residents of the following regions:

• North Korea, Iran, Cuba, Syria, and the Crimea, Sevastopol, Luhansk, and Donetsk regions of Ukraine.

Please stay tuned if you are residents of the following countries!

• Canada

• Japan

• Most countries within the European Union

• Singapore

• New Zealand

Institutional Account Identity Requirements

To ensure the integrity and security of our platform, all institutional customers seeking to trade on Backpack Exchange must complete our Know Your Customer (KYC) verification process. ‍

This guide provides a detailed overview of the required documentation for institutional KYC verification.

Required KYC Documentation for Institutions:

1) Country of Incorporation:

Please specify the country where your institution was incorporated. This will determine specific KYC requirements as they may vary based on jurisdiction.

2) Entity Name:

Provide the full, legal name of your institution.

3) Trading Activities Location:

Indicate from which country or region you expect to conduct trading activities on the Backpack Exchange.

4) Industry Classification:

Indicate the primary industry or sector your company operates in.

5) Phone Number:

Provide a valid contact number for your institution.

6) Company Address:

State the complete physical address of your institution.

7) Company’s Source of Income:

Detail the primary sources of income for your institution (e.g., sales, investments).

8) Incorporation Documents:

Please upload either:

• Certificate of Incorporation; ‍

• Articles of Association; or ‍

• Any other corporate registration documents

9) Ultimate Beneficial Owners (UBOs) with ≥ 25% Ownership:

For any UBO owning 25% or more of the entity:

• Identification: Upload a clear copy of the UBO's national ID or passport.

• Ownership Attestation: Confirm that there are no other UBOs owning more than 25% of the entity.

10) Corporate Structure Documents:

Please provide one of the following to clarify the corporate structure:

• Corporate structure chart; ‍

• Register of shareholders; or ‍

• Certificate of incumbency ‍

Optional:

If you have additional documents that you believe will assist in the verification process, please feel free to upload them.

It's vital to ensure that all provided information is accurate and up-to-date.

Incomplete or inaccurate submissions may lead to delays in the verification process.

Proof of address (POA) submission guidelines

Understanding Proof of Address

For the Know Your Customer (KYC) process, a Proof of Address (PoA) document is required by Sumsub to verify your residential address.

This is a crucial step to ensure the security and integrity of our platform and your financial transactions.

What Qualifies as a Proof of Address Document?

Your PoA document must include your full name, your current residential address, and the date of issuance. The document should be recent (typically within the last 3 months) to ensure that the information is current.

Acceptable Documents Include:

• Utility bill (Gas, Water, Electricity, or Internet)

• Bank statement

• Credit card statement

• Tax bill or official government correspondence

Document Requirements:

1. First Page: The document must have your name, address, and date clearly visible on the first page.

2. One-Page Document: If possible, the document should be a single page.

3. Date of Document: The issue date should be within the last 3 months to ensure the information is up to date.

4. Legibility: The document must be clear and easy to read. Blurry, low-resolution, or otherwise illegible documents will not be accepted.

Unaltered: The document must not be edited or redacted in any way.

Accepted File Types and Formats

When uploading your Proof of Address document, please adhere to the following accepted formats. The maximum file size for each document is 50 Mb.

File formats:

• JPEG

• JPG

• PNG

• PDF

Having Trouble?

If you encounter any issues or have a document that does not meet the above criteria, you can still submit it for manual review. Our team will examine the document and assist you in completing the KYC process.

• Document larger than one page: If your document is more than one page or does not meet the guidelines, please upload it anyway. ‍

• Manual Review: Our team will manually review any document you upload, even if it does not strictly meet the guidelines. ‍

Remember, we are here to help you through the verification process.

Your security and privacy are our top priorities.

Troubleshoot connectivity issues

1) Check the Backpack Exchange's official channels

2) Refresh your browser

• Sometimes, a simple refresh can solve minor connectivity hitches.

3) Clear browser cache and cookie

• Accumulated cache and cookies might cause outdated data or glitches. Clear them to potentially resolve connectivity issues. (Refer to our guide on "How to clear browser cache and cookies" for step-by-step instructions.)

4) Try a different browser or device

• Switch to another browser to see if the issue persists. This can help determine if the problem is browser-specific. ‍

• If possible, try accessing Backpack Exchange from another device.

5) Check your internet connection

• Ensure you have a stable internet connection. You can check this by visiting other websites or using online speed tests. ‍

• Consider restarting your router or contacting your Internet Service Provider (ISP) if you suspect connectivity issues on their end. ‍

We're here to help ensure you have a seamless trading experience.

By clearing your cache and cookies regularly, you ensure that Backpack Exchange runs smoothly and loads the latest version of the site without any hitches.

Clear browser cache and cookies

For an optimal experience on Backpack Exchange, it's occasionally necessary to clear your browser's cache and cookies.

Follow the steps below based on your specific browser.

Google Chrome:

• Click the three dots (or vertical ellipsis) in the top right corner.

• Select "More tools" > "Clear browsing data."

• Choose "Cookies and other site data" and "Cached images and files."

• Click "Clear data."

Mozilla Firefox:

• Click the three horizontal lines (hamburger icon) in the top right corner.

• Select "Options" > "Privacy & Security."

• Under "Cookies and Site Data," click "Clear Data."

• Ensure both "Cookies and Site Data" and "Cached Web Content" are checked, then click "Clear."

Microsoft Edge:

• Click the three dots in the top right corner.

• Choose "Settings" > "Privacy, search, and services."

• Under "Clear browsing data," click "Choose what to clear."

• Select "Cookies and other site data" and "Cached images and files," then click "Clear now."

Safari (Mac):

• Click "Safari" in the top left menu, then select "Preferences."

• Go to the "Privacy" tab and click "Manage Website Data."

• Click "Remove All" and confirm.

My Backpack Wallet screen is not loading

Extension

1. Verify that the extension is updated to the most recent version.

2. Turn the extension on and off in the browser extension menu.

If those actions do not solve issue then you may need to reinstall the extension.

Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.

Mobile

1. Verify that the app is updated to the most recent version.

2. Force close the app and re-open. Repeat this multiple times if needed.

If those actions do not solve issue then you may need to reinstall the app. ‍

Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.

Here's what to do:

1) Change Your Password Immediately:

• Log in and navigate to 'Settings' to update your password with a strong, unique combination.

2) Enable Two-Factor Authentication (2FA):

• If not active, head to 'Security Settings' to set up 2FA using a reliable app like Google Authenticator.

3) Review Account Activity:

• Check your transaction history for any unfamiliar actions or transactions.

Recognize and avoid phishing attempts

To safeguard your Backpack Exchange account, it's crucial to recognize and prevent phishing attempts follow these steps.

1) Verify the URL

• Double-check the URL, especially before entering any credentials.

2) Beware of unsolicited communications

• Suspicious emails or messages claiming to be from Backpack Exchange should be treated with caution. We will never ask for your password or 2FA codes under any circumstances. If anyone asks you to provide your password or 2FA code, they are a scammer.

3) Examine email senders

• Double-check the sender's email address. Phishers may use addresses that look similar but have small alterations.

4) Avoid clicking on suspicious links

• Do not click on links or download attachments from unknown or unverified sources. Hover over links to view their destination URL before clicking.

5) Report suspicious activity

Your online safety is vital.

By staying informed and cautious, you can protect your account and assets from potential threats.

Note, it typically takes ~48 hours to complete a 2FA reset.

1) Send an email to Support

• Enter 2FA reset, 2FA restore or something similar in the Subject line

Please note: Requests for resetting Two-Factor Authentication (2FA) must be made from an email address registered to your Exchange account. ‍

If Support does not respond via email within ~48 hours, then follow up with another email request.

2) Perform Sumsub Liveliness verification

After receiving a response from Support, follow the link provided and complete the identity verification on Sumsub.

3) Reply in email thread with requested identification documents

This includes but is not limited to:

Full Name and Address Confirmation

• Provide the full name and residential address currently associated with your Backpack Exchange account.

Source of Income

• Share details regarding your primary source of income or occupation for verification purposes.

Transaction Details

• Furnish as many specific details of all transaction and trades within your account as possible, including without limitation:

  • Date of the transaction

  • Name of the asset involved

  • Quantity of the asset transacted

  • Transaction hash or identification number

After completing the Sumsub Liveliness verification and providing requested information, Support will initiate the 2FA reset.

How do I execute a spot trade on Backpack Exchange?

To execute a spot trade:

2. Choose your trading pair (e.g., BTC/USDC).‍

3. Select your order type (market or limit order).‍

4. Enter the amount you want to buy or sell and confirm your order.

Your trade will be processed based on your order specifications and current market conditions.

What types of orders can I place in spot trading?

On Backpack Exchange, you can use:

• ‍Market Orders: These execute immediately at the best available market price.

• ‍Limit Orders: These only execute at a specific price or better, giving you more control over the trade price.

• Conditional Orders: These are triggered when specific conditions are met, allowing for more automated trading strategies.

How is the price of an asset determined on Backpack Exchange?

The price of an asset on Backpack Exchange is determined by supply and demand in the order book. Buyers and sellers place bids and asks, and when a match occurs, a trade is executed at that price. Market dynamics, trading volume, and external factors can all influence price movements.

What are the fees associated with spot trading on Backpack Exchange?

Spot trading fees vary depending on whether you are a maker or a taker:

• ‍Maker fees: Lower fees for adding liquidity to the order book by placing limit orders.

• Taker fees: Higher fees for removing liquidity by placing market orders.

How do I view my trading history on Backpack Exchange?

To view your trading history, go to your Portfolio and select Trade History. Here, you’ll find a detailed record of all your completed trades, including the date, trading pair, order type, and execution price. This section helps you keep track of your trading activity and performance.

Can I trade multiple assets simultaneously in the spot market?‍

Yes, you can trade multiple assets simultaneously on Backpack Exchange. Simply select the desired trading pairs and execute your trades accordingly. You can manage all your open orders and trading activity from the Spot Trading interface.

How do I deposit and withdraw assets for spot trading?

To deposit assets:‍

1. Click on the Deposit button located at the top of the screen.

2. Choose the asset you wish to deposit and follow the instructions to complete the transfer.

‍To withdraw assets:‍

1. Click on the Withdraw button at the top of the screen.

2. Select the asset and enter the amount you want to withdraw, then confirm the transaction.

Make sure to review any applicable fees and minimum withdrawal amounts before proceeding.

What should I consider before placing a market order?

Market orders execute instantly at the current best available price, which may differ from your expected price, especially in a volatile or low-liquidity market.‍

Consider using a market order when speed is crucial, but be aware of potential slippage, which is the difference between the expected and executed trade price.

How do I use limit orders effectively in spot trading?

Limit orders allow you to set a specific price at which you want to buy or sell an asset. They are effective for:

• ‍Setting target prices: Buy when the price drops to a certain level or sell when it rises to your desired level.

• Reducing slippage: By specifying the price, you avoid the risk of your order being executed at an unfavorable rate. However, keep in mind that your order may not be filled if the market doesn’t reach your specified price.

‍How do I calculate my potential profits and losses in spot trading?

‍You can calculate your potential profit or loss using the formula:

• ‍Profit/Loss = (Selling Price - Buying Price) x Number of Units

This calculation helps you understand your gains or losses from a trade, excluding fees. You can also track your performance in the Portfolio section, where your trading history and account balance are displayed.

What are the risks associated with spot trading?

Spot trading carries several risks, including:

• ‍Market volatility: Cryptocurrency prices can be highly volatile, leading to rapid gains or losses.

• Liquidity risk: Low trading volume may result in difficulty executing large trades without impacting the price.

• Security risk: Always ensure your assets are stored securely, whether on Backpack Exchange or in your personal wallet, and enable two-factor authentication for extra protection.

Can I trade stablecoins in the spot market on Backpack Exchange?

Yes, you can trade stablecoins like USDC, USDT, and others in the spot market. These assets are often used for hedging, transferring funds, or as a base trading pair to minimize exposure to market volatility.

How do I monitor the market and set price alerts for spot trading?

While Backpack Exchange does not currently support in-app price alerts, you can monitor market movements using our comprehensive charts and real-time order book data. Keep an eye on trading pairs and market conditions to stay informed and make timely trading decisions.

How does the order book work in spot trading?

The order book on Backpack Exchange lists all active buy and sell orders for a specific trading pair. Bids represent buy orders, while asks represent sell orders.

The order book is updated in real-time, and trades occur when a buy order matches a sell order. You can use the order book to gauge market sentiment and potential price movements.

Season 1 of Backpack Exchange’s points program started on March 21, 2025.

Points are distributed to users on a weekly basis based on their activity across all products on the exchange. The criteria for points is updated on a continuous basis and intentionally opaque. The goal of the points program is to reward users who contribute to Backpack’s growth.

Ranks are determined based on a user’s total points earned relative to other users. The order of ranks is as follows: Bronze, Silver, Gold, Platinum, Diamond, Challenger.

Points are distributed every Friday at 02:00 UTC. Distributions are based on weekly activity ending Thursdays at 00:00 UTC. Season 1 runs for 10 weeks, with additional seasons planned afterward. Backpack maintains the right to adjust previous point distributions at its sole discretion.

A snapshot was taken on March 20, 2025 at approximately 09:00 UTC for the Legacy Drop, allocated to historical Backpack Exchange users since the platform’s inception in late 2023.

How do I lend assets on Backpack Exchange?

1. Go to the Lend section at the top of your screen

2. Select the asset you wish to lend, specify the amount, and click Lend.

3. If you have Auto-Lend enabled in your settings, your assets will automatically be lent to the lending pool, maximizing your earning potential.

You can track your lending activity and accrued interest in the Lend & Borrow Info panel.

How do I borrow assets on Backpack Exchange?

1. Ensure you have sufficient collateral in your account.

2. Navigate to the Lend section and switch to the Borrow tab.

3. Choose the asset you want to borrow, enter the desired amount, and confirm the transaction.

Interest will accrue continuously on the borrowed amount, and you can view the details in the Borrow Info panel.

How are interest rates calculated for lending and borrowing?

Interest rates on Backpack Exchange are determined dynamically based on the utilization rate of the asset pool. Higher utilization rates lead to higher interest rates, making lending more profitable and borrowing more expensive.

The rates are displayed in real-time within the Lend & Borrow Info section, so you can stay informed of any changes.

What are the risks associated with lending and borrowing on Backpack Exchange?

For Lenders

• The main risk is that market conditions or utilization rates may change, potentially affecting the yield on your lent assets.

For Borrowers:

• The value of your collateral could decrease, resulting in a lower margin level and the risk of liquidation. Additionally, fluctuating interest rates can impact the cost of borrowing. ‍

It’s crucial to understand these risks and manage your positions accordingly.

How does the repayment process work in the borrowing market?

To repay your borrowed assets:

1. Go to the Lend section and switch to the Borrow tab.

2. Select the asset you wish to repay, enter the repayment amount, and confirm the transaction.

You can also enable Auto Lend, which will automatically use available balances to repay loans when possible.

Can I withdraw my collateral while I have an open borrow position?

Yes, you can withdraw a portion of your collateral, provided that doing so doesn’t lower your margin level below the required thresholds. If withdrawing collateral would put your account at risk of liquidation, the system will prevent the withdrawal.

Always check your margin level before attempting to withdraw.

How can I earn interest on my assets?

To earn interest, simply lend your assets through the Lend section.

If you have Auto-Lend enabled in your settings, your assets will automatically be lent to the lending pool, ensuring you continuously earn interest. Check the current APY and other details in the Lend & Borrow Info panel.

What happens if the value of my collateral drops while I have an open borrow position?

If the value of your collateral decreases significantly, your margin level will also drop. If it falls below the Maintenance Margin Fraction, your positions will be at risk of liquidation.

The system will automatically sell off your collateral to repay the borrowed funds and apply a liquidation penalty.

To prevent this, monitor your margin level and add more collateral if needed.

How does the liquidation process work for borrowed funds?

If your Account Margin Factor falls below the required Maintenance Margin Fraction, the liquidation engine will begin selling your collateral to cover the borrowed amount. All positions will be reduced in an orderly manner to protect both you and the platform.

A penalty fee will be applied, and the remaining collateral will be returned to your account.

Can I opt out of using specific assets as collateral?

On Backpack Exchange, your account operates on a cross-margin basis, meaning all eligible assets are used as collateral by default. There is no option to disable or opt out of using specific assets as collateral within the same account.

The only way to prevent an asset from being used as collateral is to move it to a sub-account, isolating it from your main account’s margin positions.

How do I view my lend and borrow activity?

You can view your lend and borrow activity in the Lend & Borrow Info section. Here, you’ll see details such as the total amount lent or borrowed, current interest rates, and accrued interest.

Use this dashboard to manage your lending and borrowing strategies effectively.

What are the benefits of lending assets on Backpack Exchange?

Lending assets on Backpack Exchange allows you to earn passive income with minimal effort. If you enable Auto-Lend, your assets will be continuously lent, ensuring they generate interest whenever available.

The interest accrues over time and compounds, making it an efficient way to put your idle assets to work.

Can I use borrowed funds for trading on Backpack Exchange?

Yes, you can use borrowed funds for both spot and margin trading. This feature provides extra capital to take advantage of market opportunities.

However, using leverage increases your risk, so it’s important to manage your collateral carefully and monitor your margin level to avoid liquidation.

How do I check the utilization rate of a lending pool?

The utilization rate of a lending pool is displayed in the Lend & Borrow Info section. It represents the ratio of total assets borrowed to the total available assets in the pool. A higher utilization rate typically results in higher interest rates for lenders and higher borrowing costs for borrowers.

Registered Exchange members who onboard KYC'd users with their Referral Code will earn 10% of the trading fees generated by that new user.

How do I refer someone to Backpack Exchange?

To invite a new user:

1. Locate Your Referral Code

• On the mobile app: Navigate to your Exchange Account → Points Screen → Referrals tab.

  • Customization Tip: You must have $1,000,000 in lifetime trading volume to customize your code. Otherwise, a default code is assigned.

2. Share Your Code

• share the code directly with a friend or community member.

3. Track Referral Activity

• Once they sign up using your code and complete KYC, you’ll start earning referral rebates based on their trading fees.

How do I use a referral code?

1. Create a New Account

2. Enter the Referral Code

• During signup, look for the “Add referral” field.

• Input the code you received from your referrer.

3. Complete KYC

• After verifying your identity, you’re all set. Your referrer will begin receiving rebates, and you’ll gain access to all of Backpack Exchange’s features.

Important Notes

• Referral Rebate Claims: Available for up to 24 months after they become eligible.

• Processing Time: If your rebate claim hasn’t processed within one day of claiming, reach out to support@backpack.exchange

• VIP5 Fee Tier Exception: Referrals at the VIP5 tier do not pay rebates.

• Weekly Updates: Referral rebates are populated weekly, and trading volume from referrals is not instantly claimable.

• No Retroactive Adds: We cannot add referrals for users who have already completed KYC without using your code.

Important Update (Effective March 28, 2025)

Beginning on March 28, 2025, the default referral rate will adjust from 30% to 10%. If you have any questions regarding this update, please reach out to support@backpack.exchange

Elevated Points Match + 10% Cash Rebates

How It Works

Affiliates who meet the qualifications below can earn an elevated points match on top of their 10% cash rebate, resulting in both direct commissions and accelerated points growth. This program is designed for partners who bring significant and consistent trading activity to Backpack Exchange.

Eligibility Requirements:

Backpack‑Specific

• $20 million in monthly referral volume on Backpack

• 15 active referred users per month on Backpack

• 5 new user acquisitions per month on Backpack

OR

External

• More than 5,000 Twitter (X) followers

• OR an equivalent volume of referrals on other exchanges

Note: These are minimum requirements and are subject to our team’s due diligence. Meeting these thresholds does not guarantee acceptance into the program.

Sign Up

Backpack is our crypto exchange and wallet platform designed for seamless trading, management, and security of cryptocurrency assets, including Solana, Ethereum, and Bitcoin.

Backpack Exchange currently serves users from more than 150 countries with $60 billion trading volume since launch a year ago. Backpack wallet is designed for intuitive management, secure storage, and seamless trading of digital assets such as Solana, Ethereum, and more.

Unlock new growth opportunities by listing your project’s token on Backpack Exchange. Fill out our application form below and our team members will reach out.

Listing Application Form

• Fee tiers are updated every hour.

• If your Mad Lads NFT leaves your Wallet, your fee tier will be adjusted accordingly.

A Mad Lads NFT must be held in a Wallet which is linked to the Exchange. See the Rewards menu for instructions on how to link your Wallet.

Backpack Exchange Trading Fees

Market makers on Backpack are eligible for maker rebates across spot and futures markets, and participate in a monthly equity reward pool valued at ~$195,000 for providing liquidity on perpetual futures markets.

Overview

Market makers on Backpack are eligible for maker rebates across spot and futures markets, and participate in a monthly equity reward pool valued at ~$195,000 for providing liquidity on perpetual futures markets.

Market Maker Rebates

MM tiers can be reached either by Total Maker Share or Adjusted Maker Share, whichever is highest. The Adjusted Maker Share model rewards traders for providing liquidity on low liquidity markets. Each market has a multiplier (as presented below), which is used to calculate the Adjusted Volume.

Adjusted maker share is calculated by dividing a user's total adjusted maker volume from that month by the total adjusted maker volume of all users across all markets in each instrument category.

MMs can also unlock MM tiers through their Total Maker Share, which does not factor in market multipliers. For Total Maker Share, we take the user’s total maker volume and divide it by the total maker volume of all users across all markets in each instrument category without applying any multipliers.

MM Tier Calculation and Payout

On the last day of every month, we will calculate the Total Maker Share and Adjusted Maker Share for each user and choose the highest between the two to determine their MM tier / fees for the month.

Rebates will be credited manually to the user’s Backpack account the following month. In the meantime, users participating in the MM program will have their fee tier set to VIP2, which has 0 maker fees.

Market Maker Monthly Rewards

Backpack has allocated 5% of the company’s equity as of December 2023 to reward market makers that provide liquidity on the exchange. 2.5% has been allocated to spot and futures each, which nets to ~$195,000 in monthly rewards for each instrument (using our latest valuation of $120m as of February 2024).

Spot rewards started on January 1 2024 and ended on December 31 2024. The futures program starts on February 1, 2025.

Monthly Futures Reward Distribution

Pair Categories

• Primary Pairs: BTC-PERP, ETH-PERP, and SOL-PERP

• Secondary Pairs: All other futures pairs

Primary Pairs Distribution

The total primary reward pool is split equally among BTC-PERP, ETH-PERP, and SOL-PERP. Each primary pair receives 0.03472% of the total reward pool.

Secondary Pairs Distribution

The reward for secondary pairs is distributed based on the number of days each pair was active during the month (the timestamp of first trade is considered the start). The formula is:

Individual Pair Reward % = Pair's Active Days / Sum of All Pairs' Active Days

Example

Let's say we have three secondary pairs in a 30-day month:

• Pair A: Active for 30 days

• Pair B: Active for 30 days

• Pair C: Active for 10 days

Total active days across all pairs = 70 days (30 + 30 + 10)

Therefore:

• Pair A receives: (30/70) = 37.5% of secondary rewards

• Pair B receives: (30/70) = 37.5% of secondary rewards

• Pair C receives: (10/70) = 25% of secondary rewards

Scoring System For Monthly Rewards

To determine a user’s share of the reward pool for a given pair, we will look at their Blended Score, which takes into account their Volume Score and Liquidity Score.

For each market:

• Volume Score = your maker volume / volume of all MMs in the program

• Liquidity Score = Your Liquidity Metric / Sum of all MMs Liquidity Metric

  • Liquidity Metric = Average Size / (Average Spread) * Uptime Score

    • Uptime Score = Active Snapshots / Total Snapshots

• Blended Score = (Volume Score * Volume Weight) + (Liquidity Score * Liquidity Weight)

• Reward = Blended Score * Monthly Reward Pool

Volume Score has a weight of 0.8 and Liquidity Score 0.2.

Optional Liquidity KPIs

Market Makers (MMs) who maintain liquidity KPIs for at least 80% of the month will receive a 30% boost to both their Volume Score and Liquidity Score on the relevant pairs where they hit the KPI. This boost is taken from the allocation that would otherwise go to MMs who fall below the 80% uptime threshold.

See optional liquidity KPIs below:

The One-Sided Depth values shown above represent the minimum liquidity required on each side of the order book (bid and ask) independently. For example, a $10,000 depth requirement means market makers must maintain at least $10,000 worth of orders on both the buy side and the sell side separately, within the specified spread level.

Note that the KPIs may change as volumes and liquidity on the exchange evolve. If a market doesn't have liquidity KPIs specified for it, the 30% rewards boost is not applicable for that market.

MM Reward Calculation Example

The example below illustrates how rewards are calculated for a single market.‍

Further Information

• All new MMs will enjoy MM5 maker fees for their first month; thereafter, fees will be determined based on the user’s market share and volumes at the end of the fee holiday period. Backpack Exchange does not, and will not entertain special fee deals with any MM. Fee schedules with all MMs are the same.

• MMs participating in this program are not able to participate in other programs.

• MMs must receive at least 1% of the total allocation in order to be eligible for equity rewards in a given month. Additionally, MMs with an average size lower than $2000 or a volume score lower than 1.5% won't be eligible for rewards on a given market.

• For the liquidity score calculation, we will only consider orders placed within 100bps from the mid.

• For a limited time, each MM has the option to have Backpack buy back the awarded equity every month at the previous fundraise valuation ($120m as of February 2024). If a market maker wishes to receive their month’s reward in cash, the market maker must let Backpack know before the end of the following month. For example, a MM has until November 30 to state how they want to receive their October rewards. Previous equity rewards that have not been claimed in cash cannot be converted.

• MMs must comply with Backpack Exchange's User Agreement and all applicable policies and procedures.

• Backpack Exchange reserves the right to waive certain KPI requirements for a certain period of time in its sole discretion.

• Backpack Exchange reserves the right to modify this program any time when appropriate.

Backpack Wallet is optimized for the following browsers and platforms. Using unsupported platforms may result in degraded performance, security risks or unexpected issues. Routinely update your devices for the latest security patches and fixes.

Browsers

• Google Chrome

• Brave

• Arc

Platforms

• Windows and MacOS

• Android and iOS

Where to download Backpack Wallet

How to make a new account on Backpack Wallet

This process applies to both mobile and browser extension.

1. Download the Backpack app or extension

2. Open the application or extension

3. Select 'Create a new wallet'

4. Choose the appropriate blockchain network

5. Note: you can add additional networks to the same account after creating the account

6. Review the Secret Recovery Phrase Warning and confirm

7. Record the Secret Recovery Phrase in a secure location

8. Note: This is the only way to recover your account

How to import an existing wallet to Backpack Wallet

1. Open the Backpack Wallet main menu and select '+ Add Account'

2. Select 'Import Wallet'

3. Choose the appropriate blockchain network

4. Pick the appropriate import route

   • Import secret recovery phrase

   • Use a hardware wallet

   • Import private key

   • Add view-only public key

5. Follow the specific instructions for each import route

Backpack is a security conscious self-custodial crypto wallet for Solana, Ethereum, Optimism, Arbitrum, Polygon, Base, Sonic and many more blockchains. It enables you to have complete control over their crypto assets.

Backpack Wallet is used for all your crypto needs.

• sending and receiving crypto assets

• swapping crypto tokens

• staking crypto tokens

• viewing, securing and trading NFTs

• connection with cold storage hardware wallets Ledger, Trezor and Keystone

• multi-sig wallet protection

• connecting to developer testnets

Backpack is a secure place to store NFTs.

NFT collection locking is an easy to use feature that automatically rejects transaction requests when an NFT is locked in the Backpack Wallet. Note: Collection locking is currently limited to select projects.

Backpack is home to xNFTs.

xNFTs are decentralized applications that operate within Backpack. The most notable xNFT functions are featured in the Mad Lads collection itself. These are:

• Embedded mint and claim

• Token-gated chats

• Soulbound inventory

• Loyalty rewards

• ...and many more

At Backpack Exchange, our commitment to providing a transparent and competitive fee structure is paramount.

The tables below outlines the Spot Trading & Perpetual Futures fee tiers for our Public Beta Launch, enabling traders to easily identify the fees associated with their trading volume.

We may change these fees for the next phase of launch and will post the updated fees here beforehand.

*SUBJECT TO CHANGE*

Backpack Exchange Trading Fees

Important Note on USDT/USDC Trading:

Our USDT/USDC trading pair is subject to a 0% fee, which means that trades on this pair do not count toward your 30-day volume requirements for fee tier upgrades.

What is the Mad Lads VIP program?

Mad Lads holders who connect their Backpack Wallet containing the NFT to Backpack Exchange will automatically qualify for VIP Tier 1 trading fees. The Mad Lads VIP program is in place for both Spot and Perpetual futures.

What are Maker and Taker Fees?

• Maker Fee: A "maker" is someone who places a limit order that adds liquidity to the market. This means the order isn’t filled immediately but waits for a matching order (opposite buy or sell) to come along. The fee incurred for such orders is called the "maker fee". Makers typically pay a lower fee as they contribute to the market's liquidity.

• Taker Fee: A "taker" is someone who places an order that matches immediately with an existing order on the order book. This takes liquidity away from the market. The fee for such orders is called the "taker fee". Takers typically pay a slightly higher fee due to the immediate nature of their trades.

How do Fee Tiers Work?

The more you trade, the more you save! Our fee structure is designed to reward high-volume traders with reduced fees. As your 30-day trading volume increases, you ascend through our tier levels, and your applicable fees decrease. Both maker and taker fees decrease as you move to a higher tier, allowing for a more cost-effective trading experience.

Please refer to the table provided to view the fee structure across different tiers and the corresponding 30-day volume requirements. We aim to offer a seamless trading experience with a clear understanding of the associated costs.‍

Note: Fee tiers are recalculated every hour, so your tier status is updated regularly.

Backpack's Wallet referral system enables you to earn every time your referrals swap crypto on the Solana network (using our native swapper).

• Earnings are automatically sent to your designated payment address daily.

• Users who have already created accounts can also add your code.

How to generate a referral code

1) Select the gift icon

2) Designate your Payment Address & Custom Referral Code

Note: Payment Address cannot be changed once set

Note: Access referral stats from multiple devices by creating the same Custom Referral Code with the same Payment Address

3) Share your referral code

Family and friends will enter your referral code during new Backpack Wallet onboarding.

4) Track your referrals, swaps and earnings

How to swap tokens (Desktop)

1. Select the Swap button

1. Select the tokens which you are swapping

2. Review the transaction details

1. Select the Approve button

How to swap tokens (Mobile)

1. Select the Swap button

You can choose the Swap button at the top o the screen or the icon at the bottom of the screen.

1. Select the tokens which you are swapping

1. Review the Swap details

1. Approve the transaction and return to the main menu

If you have lost access to your Wallet extension or mobile app you can recover it using a Seed Recovery Phrase or Private Keys.

Note: If you do not have your Seed Recovery Phrase or Private Keys then Backpack will not be able to help you recover the Wallet.

Import or Recover a Backpack Wallet Using a Seed Phrase (Mobile)

A seed phrase is the ONLY way to recover your account if you lose your device. We cannot help you recover your account if you do not have the seed phrase.

1) Select "Advanced wallet import"

2) Select "Private key"

3) Select "Derive from recovery phrase"

4) Enter your Secret Recovery Phrase into the prompt

Note: Select 'Use 24 words' to expand the prompt

5) Find and select your wallet address, select "Import Wallet"

Note: If your wallet address is not appearing in "Funded" use the drop down menu to expand your options.

6) Select "I'm done" and begin using the Backpack Wallet

Import or Recover a Backpack Wallet Using a Seed Phrase (Browser Extension)

1) Select "Import Wallet"

2) Add an Account name or select "Skip"

3) Select "Import secret recovery phrase"

4) Enter your Secret Recovery Phrase into the prompt

Note: Select 'Use 24 words' to expand the prompt

5) Choose either Ethereum or Solana

6) Find and select your wallet address, select "Import Wallet"

Note: If your wallet address is not appearing in "Funded" use the drop down menu to expand your options.

7) Open the Extension and pin it to your task bar

‍

We are pleased to announce the launch of our new bug bounty program.‍

Rules

Rewards are categorized into five tiers based on the severity of the identified vulnerabilities.

The reward amounts are as follows:

• Critical: $10,000 - $100,000 USD

• High: $5,000 - $10,000 USD

• Medium: $500 - $5000 USD

• Low: $50 - $500 USD

‍

Upon acceptance of your bug or vulnerability report, rewards will be disbursed in USDC. Please note that the threat level will be assessed by the Backpack security team, and Backpack reserves the sole discretion to determine whether a report meets the reward criteria.

Scope of Vulnerabilities‍

The following modules are within the scope of the bug bounty program:

Criteria

Reports should focus on the following types of vulnerabilities:

• Issues with business logic that may result in the loss of user assets.

• Payment manipulation.

• Remote code execution (RCE).

• Leakage of sensitive information.

• Critical OWASP issues such as XSS, CSRF, SQLi, SSRF, IDOR, and similar vulnerabilities.

• Other vulnerabilities that may result in potential loss.

Exclusions

The following issues are not within the scope of the bug bounty program:

• Theoretical vulnerabilities that have not been proven.

• Flaws in email verification codes, expired password reset links, and password complexity policies.

• Clickjacking and UI redirection with minor security impact.

• Vulnerabilities in third-party applications or software.

• Zero-day exploits that are less than 30 days old.

• Social engineering and phishing attacks.

• Denial of Service (DoS) attacks.

• Enumeration of email, phone number, or username information.

• Known issues, duplicate submissions, or vulnerabilities already disclosed.

• Physical attacks.

• Vulnerabilities that can only be exploited in older versions of browsers or platforms.

• Using known codebase vulnerabilities without actual proof.

• Lack of security flags in cookies.

• Issues related to insecure SSL/TLS sockets or protocol versions.

• Content-based deception.

• Cache management issues.

• Internal IP or domain name leakages.

• Missing security headers that cannot be directly exploited.

• CSRF issues with negligible impact (such as adding to favorites, adding to cart, subscribing, etc.)

• Issues without any security impact.

‍

‍

We look forward to your participation and thank you for helping us maintain a secure and trustworthy trading environment.

Users must create both a Solana and Ethereum wallet in the same Account before the Solana/Ethereum token bridge option will appear.

How to bridge assets in Backpack Wallet:

1. Press the Swap button

2. Choose the token you want to send

3. Select the token you want to receive menu

4. Select the Ethereum tab

5. Choose the token you want to receive

6. Review transaction and Approve

‍It only works when you use Backpack Wallet exclusively.

If you import a Backpack Wallet into another service provider, NFTs will not be locked in that wallet.

Secure NFTs in with Collection Locking in Backpack Wallet

1. Navigate to the Collectibles menu

2. Open the NFT collection you wish to secure

3. Toggle on the the lock at top of screen

Note: It's important to remember that this only locks the NFTs on that specific Wallet deployment.

How to add new networks on Mobile

1. Open the main menu at top left of app

2. Select the new network in the Networks section

3. Proceed with new wallet creation

How to add new networks on Extension

1. Open the drop down menu at the top of the app

2. Open the network selector and select "Add Network" option

3. Choose the new network and process with wallet creation

Backpack Wallet is also the only Solana wallet to support 3-of-3 multisig; the most secure method for securing crypto assets.

Important steps before importing a hardware wallet to Backpack

• Complete hardware device setup

• Update hardware device firmware
• Download the apps needed to support your crypto assets

Here's how to connect and import a cold storage hardware wallet to Backpack.

1) Download the Backpack Wallet

2) After creating an Account, open the Main Menu in Backpack and select 'Add Account'.

3) Select 'Import Wallet'.

4) Select 'Import Wallet' and choose the appropriate network.

Note: Ledger, Trezor and Keystone each support thousands of crypto tokens and networks. Any choice during this step will allow connection.

5) Select 'Use a hardware wallet'.

6) Select the appropriate hardware wallet and approve connection requests.

7) Choose the appropriate Funded Address(es) and select 'Import Wallet'.

8) Open Backpack Wallet and access your hardware wallet account.

Here’s the step-by-step.

1) Import your cold storage hardware wallet(s) to Backpack.

1. Open the Settings menu and select 'Add Account'

2. Select 'Import Wallet' and choose the appropriate network

3. Select 'Use a hardware wallet' and choose 'Use a Keystone wallet'

4. Follow directions on device to approve connection

5. Proceed with wallet setup instructions

2) Visit a reputable multisig wallet platform that has integrated Backpack Wallet and initiate the setup process.

3) Utilize Backpack Wallet as the interface to manage signatures and transactions.

Note: You will sign transactions on your cold storage hardware device using Backpack Wallet as the connection point.

How to use custom RPCs with Backpack Wallet

1. Open the main menu and choose the appropriate network

2. Select 'RPC Connection'

3. Enter the Custom menu and enter RPC address. Update.

Extension

1. Verify that the extension is updated to the most recent version. ‍

2. Turn the extension on and off in the browser extension menu.

If those actions do not solve issue then you may need to reinstall the extension. ‍

Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.

Mobile

1. Verify that the app is updated to the most recent version.

2. Force close the app and re-open. Repeat this multiple times if needed.

If those actions do not solve issue then you may need to reinstall the app. ‍

Note: Ensure that your Seed Phrase or Private Keys are saved and available before trying to reinstall and import your wallets.

How to add developer testnets with Backpack Wallet

1. Enable Developer Mode in the Settings menu (located in Preferences submenu)

2. Open the Wallet menu at top of app

3. Select the drop down menu network selector

4. Choose 'Add Network' and pick the appropriate network

There are two main ways to stake Solana on Backpack:

1. Liquid Staking: stake SOL while maintaining liquidity through tokenized staking derivatives like bpSOL

2. Native Staking: delegate SOL directly to a validator through your wallet.

How To How To Liquid Stake SOL for bpSOL

Backpack staked SOL, or bpSOL, can boost your rewards by up to 15% (rates vary and change frequently). Follow these steps to convert your existing SOL to bpSOL and start earning today.

• Swap SOL for bpSOL in the Swap tab

How To Natively Stake SOL

Backpack recommends 2 validators, the Backpack Validator and the Mad Lads validator. Follow these steps to natively stake your existing SOL through a Solana validator and start earning today.

1. Open Solana (SOL) from the token list

2. Select the 'Stake SOL to Earn' button

3. Choose the 'Add Stake' button

4. Enter the amount of SOL you wish to stake and select the 'Stake' button

FAQs about staking SOL with Backpack

What is the minimum amount of SOL needed to stake?

.0001 SOL

How long does it take for staked SOL to activate?

This period can vary however a new stake will activate within 24 hours.

Can I unstake my SOL at any time?

You can unstake SOL at any time however you must wait for the next Solana epoch to receive the tokens in your Wallet.

What is the Mad Validator?

The Mad Validator is Backpack owned and managed. It began operations after the Mad Lads NFT collection launch.

What is staked SOL used for?

Staked SOL is used to validate blockchain transactions on the Solana network.

How long should I stake my SOL tokens?

SOL is typically staked for long periods of time

What is the difference between native staking and liquid staking on Solana?

The key difference between native staking and liquid staking on Solana comes down to liquidity and flexibility:

• Native Staking

  • You delegate SOL directly to a validator.

  • Your SOL is locked and cannot be used elsewhere until you unstake (which takes 2-3 days).

  • You earn staking rewards but have no immediate liquidity.

• Liquid Staking

  • You stake SOL through a liquid staking protocol (like Sanctum)

  • You receive a liquid staking token (e.g. bpSOL) that represents your staked SOL.

  • This token can be traded, used in DeFi, or swapped back to SOL.

Hide spam tokens

Solana is known for it's low cost transactions, high speeds and with the advent of cNFTs (compressed NFTs) - receiving spam NFTs.

1) Scroll to the bottom of the Tokens page

2) Select 'Manage token display'

3) Hide spam tokens with toggles

Backpack recommends recording all Secret Recovery Phrases and saving them in a secure location. This is the only way to recover your account if you lose access to your devices or password.

Warning: DO NOT SHARE your Secret Recovery Phrase with anyone. Backpack Support or staff will never ask you for your Secret Recovery Phrase.

Secret Recovery Phrase (Mobile App)

1) Navigate to Settings and open the 'Security' menu

2) Choose 'Show Secret Recovery Phrase'

Keep your Secret Recovery Phrase private, never share with anyone.

Secret Recovery Phrase (Extension)

1) Navigate to Your Account in the Settings menu

2) Select 'Show Secret Recovery Phrase'

3) Enter your password and choose 'Show secrets'

Keep your Secret Recovery Phrase private, never share with anyone.

Private Keys (Mobile App)

1) Navigate to the Network selector menu

2) Open the wallet menu

3) Choose 'Show Private Key'. Select 'Show Private Key'.

Keep your Private Keys private, never share with anyone.

Private Keys (Extension)

1) Navigate to the Network selector menu

2) Open the wallet menu

3) Choose 'Show Private Key'. Enter your password and select 'Show secrets'.

Keep your Private Keys private, never share with anyone.

How to report bugs or platform glitches on the Backpack Exchange:

If you encounter any irregularities or glitches, kindly follow this guide to share your observations.

1) Document the glitch (if possible)

• Taking a screenshot or a short screen recording can greatly expedite our troubleshooting process.

• While this isn't mandatory, it provides our technical team with invaluable insights into the issue.

2) Send your report

• Provide comprehensive information:

  • Clearly describe the observed bug or glitch. Mention the device and browser you were using, steps leading up to the anomaly, and any other pertinent data. Remember, while visuals are beneficial, a detailed description is equally important.

3) Await our feedback

• Once you've relayed your observations, our team will commence its investigation. You may receive an acknowledgment or a tracking reference, assuring you that we're on the case. ‍

Thank you for contributing to enhancing Backpack Exchange!

Your observations and feedback are crucial in ensuring our platform continues to operate at the highest level possible.

The best way to report issues or glitches in Backpack products is to generate a Support ticket using the built in function which lives in both Wallet and Exchange. It collects details about the system status that helps troubleshoot the issue.

Virtual Asset Standards (VA Standards) for the Backpack Exchange in according with requirements set by the Dubai Virtual Assets Regulatory Authority (VARA).

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At Trek Labs Ltd FZE d/b/a Backpack Exchange (Backpack Exchange), we take our regulatory obligations seriously, and as such, we have established a set of VA Standards in accordance with the requirements set out by our regulator, the Dubai Virtual Assets Regulatory Authority (VARA). These Virtual Asset Standards (VA Standards) are designed to ensure that all Virtual Assets (VA) supported by Backpack Exchange meet appropriate regulatory requirements and are suitable for our clients. Our VA Standards are disclosed on our website, and we take all reasonable steps, including relevant due diligence, to ensure that all Virtual Assets we support meet these standards.

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Our VA Standards are set forth below.

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For any VA to be listed, or remain listed, on the Backpack Exchange:

• it must be sufficiently liquid and meet minimum market capitalization and fully diluted value requirements.

• it must have clear features, use cases, utility or community interest.

• it must not be a “privacy coin” or contain any anonymity features that prevent traceability of transactions.

• It must not be predominantly used for money laundering or terrorist financing activities.

• it must comply with all laws, regulations, rules and directives applicable to it.

• it must not be prohibited by VARA or any other appropriate authorities.

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Furthermore, when considering the listing of any VA on, or keeping any VA listed on, the Backpack Exchange;

• We will take into consideration any guidance as to the regulatory treatment of a VA by VARA and other appropriate authorities.

• We will assess the security and immutability of the underlying DLT protocol, considering factors such as 51% attack likelihood, uptime, frequency and severity of transaction backlogs/ability to make transfers effectively, and any hacks or protocol errors.

• We will take into consideration the future development of the VA as communicated by the Issuer and/or relevant developers, whether this exists and to what extent, as well as the content of it.

• We will assess any previous instances of price manipulation, as well as the potential susceptibility of price manipulation, considering factors like team and holder concentration, and market liquidity, and any relevant mitigants that could be put in place.

• We will assess any potential or actual conflicts of interest, and any relevant mitigants to such conflicts that could be put in place.

• We will assess the background of the issuer of the VA, including their experience in the VA sector, any adverse media, and any investigations or claims in relation to fraud, deceit, market manipulation or other illicit behaviour.

• We will consider any rights related to the VA, including whether they represent rights to any other assets (such as real world assets or airdrops of other VAs), and the enforceability of those rights.

• we will assess the availability of sufficient assets in order that we are able to satisfy any obligation we have with respect to the VA and any relevant VA Activities.

• We will, if the VA has an underlying physical market, assess and form an understanding of the underlying physical market and assess whether, and to what extent, the VA in question can have adverse impacts on such a market.

• We will, if applicable, review, and periodically review, any terms and conditions for appropriate correlation with any physical market to ensure conformity with standards and practices in that physical market.

• We will take into consideration any other factors, benefits and risks we may deem relevant, to our clients and to the exchange.

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As part of Backpack Exchange’s VA Listing Policy, VA Standards will all be assessed when any VA is being considered for listing on Backpack Exchange. The information gathered, analysis performed and decision on whether to list will be documented, with such documentation kept on file for eight years and available to VARA upon request.

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Similarly, Backpack Exchange reviews listed VAs to ensure they continually meet the VA Standards every six months, or as soon as possible if Backpack Exchange becomes aware of any developments, related to the VA in question, that would potentially result in the VA no longer meeting the VA Standards. The information gathered, analysis performed and any decisions reached on whether the VA remains listed or not will be documented, with such documentation kept on file for eight years and available to VARA upon request.

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Backpack Exchange shall regularly, and on an ongoing basis, assess relevant information to ensure that a Virtual Asset that it provides VA Activities in relation to continues to meet its VA Standards. A Virtual Asset that initially meets Backpack Exchange’s VA Standards may no longer fulfil such standards in the event of certain events, such as evidence of market manipulation by the issuer, lack of sufficient assets to satisfy the issuer’s obligations, treatment of a Virtual Asset as a regulated financial instrument by VARA or other appropriate authorities, fraud, or other similar events. In the event that a Virtual Asset no longer meets our VA Standards, we may suspend support for such Virtual Assets. We have necessary operational procedures and controls in place for such suspensions, and we will notify the appropriate regulators as soon as possible after becoming aware of any such issues. We take all necessary steps as directed by regulators to minimise any adverse impact on our clients arising as a result.

Learn about our Cookie Policy for the collection and management of user information when using Backpack Exchange services, products, website, or mobile application.

General Legal

VARA Disclosures

Backpack Wallet

Note: This example uses the Backpack mobile app. The flow is similar in the desktop extension.

1) Open the main Settings menu

Note: If you are on the Wallet screen, you must navigate to home screen and then open the main Settings menu.

2) Select 'Bug Report'

3) Select 'Submit'

4) Copy the report identifier code.

5) Detail the issue and attach the report identifier code in your email.

Privacy policy for the processing of personal data on the Backpack Exchange regarding the use of our services, products, website or mobile application.

For Backpack Europe Users

Process and contact information for submitting a complaint about products or services of the Backpack Exchange website or mobile application.

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Trek Labs Ltd FZE dba Backpack Exchange

Attn: Complaints Department08-116

The Offices 4 One Central

World Trade Center

Dubai, UAE

If you are emailing or writing to us directly, please include the following information in your complaint:

• Your name and account email address

• Date of complaint

• Your contact information

• Details of your complaint

• Any supporting documentation relating to your complaint

We will acknowledge all complaints as soon as possible, but in no event later than one week of receiving your complaint.

For spot trading, the price of each Virtual Asset is solely determined by users on the orderbook (i.e., the price other users are willing to buy or sell).

Such market price may be influenced by a number of factors, such as liquidity of the token and market volatility.

For the convert feature, Backpack Exchange operates a request-for-quote system whereby (1) a user will submit a request to purchase or sell a given number of Virtual Assets, (2) Backpack Exchange will request quotes from liquidity providers to fulfill the users' request, and (3) provide the user with the best quote with a small additional spread charged by Backpack Exchange.

Risk disclosures for trading Virtual Assets and use of the services and services provided on the Backpack Exchange website and mobile application.

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Last Updated: October 31, 2023

Virtual Asset means any Virtual Asset (including any virtual currency or virtual commodity) which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network. You should not trade or invest in Virtual Assets unless you fully understand the highly speculative nature, complexity, and risk inherent in the transactions you enter into, and your exposure to financial loss. Only persons with adequate understanding of the economic, legal, and other risks associated with Virtual Assets, and who are willing to assume such risks, should trade in Virtual Assets. We set out below the risks of trading Virtual Assets and of the use of the services provided by Trek Labs Ltd FZE dba Backpack Exchange (“Backpack Exchange”). Note that there may be additional risks that we have not foreseen or identified as part of this risk disclosure statement. You should carefully assess whether your financial situation and risk tolerance is suitable for trading in Virtual Assets. Backpack Exchange does not provide trade recommendations, investment advice or financial advisory services.The risks described below may result in the loss of Virtual Assets, a decrease in or loss of all value for Virtual Assets, an inability to access or transfer Virtual Assets, an inability to trade Virtual Assets, an inability to receive financial benefits available to other Virtual Asset holders, and other financial losses to you.

1. General risks associated with Virtual Assets

• Total loss - A Virtual Asset may lose all of its value, and subsequently you may lose any fund invested in such Virtual Asset and losses may occur over a short period of time.

• Not a legal tender or backed by a government - Virtual Assets are not a legal tender and are not backed by any government.

• Complexity - The features, functions, characteristics, operation, use and other properties of any Virtual Asset and the software, networks, protocols, systems, and other technology (including, if applicable, any blockchain) used to administer, create, issue, transfer, cancel, use or transact in any Virtual Asset may be complex, technical or difficult to understand or evaluate.

• Valuation and market/price - The price of Virtual Assets traded on an exchange is derived based on the market data and price information on the exchange. Such market data and price information may be different from the information available on other exchanges given the fact that Virtual Assets can be traded on other exchange platforms. Prices can and do fluctuate at any given time. Due to such price fluctuations, the value of your investment in Virtual Assets may decrease at any given moment. Virtual Assets may be subject to large swings in value and may even become worthless. Trading activity in a particular Virtual Asset traded on another exchange could affect the price of that Virtual Asset on Backpack Exchange’s online trading platform.

• Volatility - The price of Virtual Assets can be subject to large fluctuations (whether in a Virtual Asset/fiat pairing or Virtual Asset/Virtual Asset pairing). The price of a Virtual Asset can be volatile, unpredictable, and inconsistent. Sudden shifts in prices are possible at any given moment and could result in significant loss.

• Liquidity - Markets for Virtual Assets can at times become “illiquid,” which means there can be a scarcity of persons who are willing to trade at any one time. Thinly traded or illiquid markets have potential increased risk of loss because Virtual Assets can experience high volatility of prices and in such markets market participants may find it impossible to liquidate market positions except at very unfavorable prices. There is no guarantee that the markets for any Virtual Asset will be liquid or permit you to establish or liquidate Virtual Assets positions when you want, or at favorable prices.

• Irrational market forces - Virtual Assets are probably susceptible to irrational loss of confidence or market forces (e.g. as a result of any misleading statements or rumors), which could cause a collapse in the demand relative to supply without a reason anchored in reality. Many Virtual Assets have no underlying value other than the trust the holder of such Virtual Assets places in them. References to ''market capitalisation'' in connection to Virtual Assets should not be confused with the intrinsic value of other assets, such as equities, which are valued and whose market capitalisation depends on the intrinsic value of the legal entity which they represent a share in i.e. the value of the underlying assets and liabilities of a corporation.

• Financial crime risk - Virtual Assets provide a higher degree of anonymity for their holders and makes it more difficult to trace them compared to conventional assets, which can lead to an increased risk of Virtual Assets being used for, or being connected to, financial crime (which includes (i) fraud or dishonesty; (ii) money laundering such as the handling of proceeds of crime; (iii) the financing of terrorism; or (iv) dealing with sanctioned persons or breaching economic sanctions).

• Cyber-attack risks - The intangible nature of Virtual Assets and their heavy reliance on technology may make them subject to an increased risk of cyber-attack and theft. Virtual Assets are susceptible to specific types of cyber-attacks as a result of their network architecture. For example, Bitcoin and Ethereum rely on a Proof-of-Work consensus mechanism, in which a distributed network of computers (known as miners) complete complex mathematical problems in order to validate and record transactions. Theoretically, a malicious actor could gain control of >50% of the network computing power (known as a 51% attack) to rewrite transactions or create fake ones in order to steal assets from exchanges and other service providers. Polkadot relies on a Proof of Stake consensus mechanism, in which a set number of node operators (known as validators) post collateral in order to validate and record transactions. A validator will lose some or all of its collateral if it behaves maliciously or carelessly. Theoretically, a validator or group of validators could post enough collateral to control the validation and recording of transactions. While these kinds of attacks are theoretically possible, they require significant capital to be carried out successfully.

• Technology risks - Trust and confidence may collapse in a Virtual Asset such as Bitcoin because of, but not limited to, unexpected changes imposed by the software developers or others, changes introduced by the relevant authority or regulator, the creation of superior competing alternative Virtual Assets, or a deflationary or inflationary spiral. Confidence may also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling. There may be no mechanism for the recovery of lost or stolen Virtual Assets. Any Virtual Asset or technology may change or otherwise cease to operate as expected due to a change made to the underlying technology, a change made using features or functions built into the underlying technology or a change resulting from an attack. These changes may include, without limitation, a “fork” or “rollback” of a Virtual Asset or blockchain. Finally, due to their nature, technological difficulties experienced by Backpack Exchange may prevent access or use of Virtual Assets.

• Irreversible transactions - Each Virtual Asset has its unique deposit address. If an exchange user accidentally deposits any other Virtual Assets into the address, those Virtual Assets would be lost forever and cannot be recovered. Likewise, if an exchange user accidentally types in a wrong withdrawal address, once the withdrawal request is processed and the transaction is completed from the Exchange’s end (once the Virtual Asset leaves Backpack Exchange’s wallet system), the transaction is irreversible, and the withdrawn amount cannot be retrieved by the exchange user. Finally, and for the same reason, Virtual Assets which are stolen as a result of a cyber-attack, as well as Virtual Assets where the private keys are lost, destroyed or stolen, may not be recoverable.

• Acceptance as payment - There is no assurance that a counterparty who accepts a Virtual Asset as payment today will continue to do so in the future. Changes to laws and regulations might prevent a counterparty from accepting a Virtual Asset as payment. Virtual Assets not being a "legal tender", a counterparty could refuse to accept them as a means of payment.

• No central bank or other official support - There is no central bank that can take corrective measures to protect the value of Virtual Assets in a crisis. Virtual Assets are only backed by technology and mutual trust, and therefore rely heavily on the technology and economic model its community and developers have built. Any changes in the core logics of these could result in a collapse of its price and value.

• Regulatory risk - The regulation of Virtual Assets continues to evolve in various jurisdictions. Regulation may develop that restricts the use of Virtual Assets or otherwise influences the demand for Virtual Assets, which may affect the price of Virtual Assets. Furthermore, banks and other financial institutions may refuse to process funds for Virtual Asset transactions, process wire transfers to or from Virtual Asset trading platforms, Virtual Asset-related companies or service providers, or maintain accounts for persons or entities transacting in Virtual Assets. This might result in you holding Virtual Assets which you are unable to convert into fiat currency to use.

• Tax risk - Virtual Assets gains are typically subject to tax, depending on the user’s country of residence, and may impact a user’s tax footprint or optimization. If you have any further tax concerns pertaining to Virtual Assets you are best advised to visit the relevant country’s tax website or consult your own financial, investment, tax, or legal adviser.

• Stablecoin Risks. Stablecoins are often backed by reserves including fiat currencies, short term government and other bonds, as well as other assets. However, they are generally not subject to any form of deposit or government insurance. For some stablecoins, the underlying reserves may not be audited, and the types of reserves backing the stablecoin is unable to be confirmed. As a result, in addition to fees charged by the issuers, users and investors may face difficulties redeeming stablecoins for their underlying assets. In addition, if the collateral loses value, or are seen as unstable, non-redeemable, or not otherwise protected, whether in actuality or in perception, then the stablecoin may destabilize, resulting in a loss of the peg. The security and operational integrity of the custody and mint and redemption platforms associated with stablecoins are also critical. Any breach or failure can result in significant losses to stablecoin holders. Stablecoin issuers and operators also navigate complex and evolving regulatory landscapes across jurisdictions. Failure to comply with these financial laws and regulations can result in fines, restrictions or the shutdown of operations, affecting the value and liquidity of the stablecoin.

• Memecoin Risks. Memecoins often rely on social media buzz, hype and endorsements from influencers and opinion leaders for their valuation. Any negative shift in sentiment or fading interest can rapidly cause their value to depreciate, including to zero in a short amount of time. In addition, unlike traditional assets or some crypto assets with utility or underlying projects, meme coins often lack intrinsic value, making their long-term viability and price stability highly uncertain. In addition, the memecoins are susceptible to manipulation through pump-and-dump schemes, where prices are artificially inflated to attract buyers before the assets are sold off, leading to a sharp decline in value. Many meme coins are also launched with minimal planning or long-term vision, and the risk of developers abandoning the project is significant. The success of certain meme coins has led to a proliferation of similar tokens, many of which are created solely to scam unwary investors. Distinguishing legitimate projects from scams in a hype-driven market can be highly challenging.

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2. Risks associated with Backpack Exchange products and services

• Trade execution risk - Backpack Exchange may perform additional reviews or monitoring of a user’s onboarding or any Virtual Asset trade and transaction request which might require, among other things, requesting additional documentation during such review or monitoring. This additional review or monitoring, which may be required for compliance reasons, may delay trading, and therefore could potentially cause a user to miss out on a trade opportunity or expected profit.

• Internet trading risks - There are risks associated with Backpack Exchange’s technology service providers which enable its users to trade on its exchange. Although Backpack Exchange carefully chooses its providers and the solutions it uses, Backpack Exchange’s users would still be exposed to risks which include, but are not limited to, the failure of hardware, software and hacking through internet connection. users may experience communication failures, disruptions, errors, distortions, or delays when trading due to network failure from the user’s end, which might result in losses.

• Risks of cyber-attack

  • Website Phishing Risk: Attackers may host a similar website which has a similar domain name as the Backpack Exchange website. By sending phishing emails or chat messages, attackers may induce users to access the phishing website where they would input their password or disclose other sensitive information, which could then be used by the attackers.

  • Official Account Phishing Risk: Attackers may create accounts with the same nickname and avatar as Backpack Exchange employees on websites, social media pages or chat rooms. With these fake accounts, attackers may induce users to disclose their passwords or other sensitive information.

  • "Remote Hacking" Risk: users can expose their computer or mobile device to remote hacking by unconsciously downloading viruses from the internet or other connecting devices. Hackers can then access and control a user’s device without the user being aware. In this case, a hacker might login to and operate a user’s trading account. If a hacker has obtained enough information for him to pass all security measures on the Backpack Exchange online trading platform, and the system is tricked into considering the attacker as the legitimate user, the attacker would be able to transfer all funds or Virtual Assets in the user’s account to other addresses.

• Weak User Password/"Brute force" attack risk - Users sometimes use weak passwords to protect their Backpack Exchange accounts. Attackers may attempt to login to the Backpack Exchange online trading platform by attempting to guess a user’s password through trial and error, by enumerating weak or common passwords, or by using username password combinations leaked from other websites.

• "Hard Forking" risk - A "hard fork" results in a Virtual Asset forked from the original one. Accepting the original Virtual Asset does not mean Backpack Exchange automatically accepts any new Virtual Asset that is forked from the original accepted one. In case that Backpack Exchange does not support the forked Virtual Asset, users will not be able to trade the forked Virtual Asset and need to withdraw it to other addresses for further action. During this time the price of the forked Virtual Asset might decrease.

• Regulatory risk - Backpack Exchange may be subject to supervisory or enforcement action by certain regulators or government agencies, which may result in suspension of trading on the Backpack Exchange Platform or in users being unable to have control or access over their Virtual Assets for a period of time. This could eventually impact the value of Virtual Assets.

Information about digital assets that are relevant on the Backpack Exchange including name, symbol, date of issuance, market capitalisation and fully diluted value, circulating supply, total supply, price variation history and other information.

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The live information for each VA listed is available on the corresponding links next to each VA in the following table:

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Token Name

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ACT

APE

BLUR

BODEN

BOME

BONK

BTC

cbBTC

CHILLGUY

DBR

DRIFT

ETH

ENA

GOAT

HLG

HNT

HONEY

JTO

JUP

KMNO

LINK

POL (ex-MATIC)

ME

MEW

MOBILE

MON

MOODENG

MOTHER

NYAN

ONDO

PEPE

PENGU

POL (ex - MATIC)

PRCL

PYTH

RAY

RENDER

SHFL

SHIB

SOL

STRK

TNSR

UNI

USDC

USDT

W

WEN

WIF

WLD

Last Updated: November 24, 2022

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This Privacy Notice is designed to help you understand how 200ms Labs Ltd (“200ms Labs,” “we,” “us,” or “our”) collects, uses, processes, and shares your personal information, and to help you understand and exercise your privacy rights.

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1. SCOPE AND UPDATES TO THIS PRIVACY NOTICE

2. PERSONAL INFORMATION WE COLLECT

3. HOW WE USE YOUR PERSONAL INFORMATION

4. HOW WE DISCLOSE YOUR PERSONAL INFORMATION

5. YOUR PRIVACY CHOICES AND RIGHTS

6. SECURITY OF YOUR INFORMATION

7. INTERNATIONAL DATA TRANSFERS

8. RETENTION OF PERSONAL INFORMATION

9. SUPPLEMENTAL NOTICE FOR CALIFORNIA RESIDENTS

10. SUPPLEMENTAL NOTICE FOR NEVADA RESIDENTS

12. CHILDREN’S INFORMATION

13. OTHER PROVISIONS

14. CONTACT US

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1. SCOPE AND UPDATES TO THIS PRIVACY NOTICE

This Privacy Notice applies to personal information processed by us, including on our websites, mobile applications, Backpack browser extensions, and other online or offline offerings. To make this Privacy Policy easier to read, our website, mobile applications, browser extensions and other offerings are collectively called the “Services.”

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Changes to our Privacy Notice. We may revise this Privacy Notice from time to time in our sole discretion. If there are any material changes to this Privacy Notice, we will notify you as required by applicable law. You understand and agree that you will be deemed to have accepted the updated Privacy Notice if you continue to use our Services after the new Privacy Notice takes effect.

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2. PERSONAL INFORMATION WE COLLECT

The categories of personal information we collect depend on how you interact with us, our Services, and the requirements of applicable law. We collect information that you provide to us, information we obtain automatically when you use our Services, and information from other sources such as third-party services and organizations, as described below.

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A. Personal Information You Provide to Us Directly

We may collect personal information that you provide to us.

• Wallet Creation. We may collect personal information when you request a wallet with us, such as your username and public key.

• Your Communications with Us. We may collect personal information, such as email address, when you request information about our Services, register for our newsletter, request customer or technical support, or otherwise communicate with us.

• Surveys. We may contact you to participate in surveys. If you decide to participate, we may collect personal information from you in connection with the survey.

• Interactive Features. We and others who use our Services may collect personal information that you submit or make available through our interactive features (e.g., messaging and chat features, commenting functionalities, forums, blogs, and social media pages). Any information you provide using the public sharing features of the Services will be considered “public,” unless otherwise required by applicable law, and is not subject to the privacy protections referenced herein.

• Sweepstakes or Contests. We may collect personal information you provide for any sweepstakes or contests that we offer. In some jurisdictions, we are required to publicly share information of sweepstakes and contest winners.

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B. Personal Information Collected Automatically

We may collect personal information automatically when you use our Services.

• Cookie Policy (and Other Technologies). We, as well as third parties that provide content, advertising, or other functionality on the Services, may use cookies, pixel tags, and other technologies (“Technologies”) to automatically collect information through your use of the Services.

  • Cookies. Cookies are small text files placed in device browsers that store preferences and facilitate and enhance your experience.

  • Pixel Tags/Web Beacons. A pixel tag (also known as a web beacon) is a piece of code embedded in the Services that collects information about engagement on the Services. The use of a pixel tag allows us to record, for example, that a user has visited a particular web page or clicked on a particular advertisement. We may also include web beacons in e-mails to understand whether messages have been opened, acted on, or forwarded.

• Our uses of these Technologies fall into the following general categories:

  • Operationally Necessary. This includes Technologies that allow you access to the Services, applications, and tools that are required to identify irregular website behavior, prevent fraudulent activity, improve security, or allow you to make use of our functionality;

  • Performance-Related. We may use Technologies to assess the performance of the Services, including as part of our analytic practices to help us understand how individuals use the Services (see Analytics below);

  • Functionality-Related. We may use Technologies that allow us to offer you enhanced functionality when accessing or using the Services. This may include identifying you when you sign into our Services or keeping track of your specified preferences, interests, or past items viewed;

  • Advertising- or Targeting-Related. We may use first party or third-party Technologies to deliver content, including ads relevant to your interests, on the Services or on third-party digital properties.

C. Personal Information Collected from Other Sources

• Third-Party Services and Sources. We may obtain personal information about you from other sources, including through third-party services and organizations. For example, if you access our Services through a third-party application, such as an app store, a third-party login service, or a social networking site, we may collect personal information about you from that third-party application that you have made available via your privacy settings.

• Referrals and Sharing Features. Our Services may offer various tools and functionalities that allow you to provide personal information about your friends through our referral service. Our referral services may also allow you to forward or share certain content with a friend or colleague, such as an email inviting your friend to use our Services. Please only share with us contact information of people with whom you have a relationship (e.g., relative, friend, neighbor, or co-worker).

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3. HOW WE USE YOUR PERSONAL INFORMATION

We use your personal information for a variety of business purposes, including to provide our Services, for administrative purposes, and to market our products and Services, as described below.

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A. Provide Our Services

We use your information to fulfil our contract with you and provide you with our Services, such as:

• Managing your information and accounts;

• Providing access to certain areas, functionalities, and features of our Services;

• Answering requests for customer or technical support;

• Communicating with you about your account, activities on our Services, and policy changes; and

• Processing your financial information and other payment methods to facilitate purchases and transfers via the Services.

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B. Administrative Purposes

We use your information for various administrative purposes, such as:

• Pursuing our legitimate interests such as direct marketing, research and development (including marketing research), network and information security, and fraud prevention;

• Detecting security incidents, protecting against malicious, deceptive, fraudulent or illegal activity, and prosecuting those responsible for that activity;

• Measuring interest and engagement in our Services;

• Improving, upgrading, or enhancing our Services;

• Developing new products and services;

• Ensuring internal quality control and safety;

• Authenticating and verifying individual identities, including requests to exercise your rights under this Privacy Notice;

• Debugging to identify and repair errors with our Services;

• Auditing relating to interactions, transactions, and other compliance activities;

• Sharing personal information with third parties as needed to provide the Services;

• Enforcing our agreements and policies; and

• Carrying out activities that are required to comply with our legal obligations.

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C. Marketing and Advertising our Products and Services

We may use personal information to tailor and provide you with content. We may provide you with these materials as permitted by applicable law.

Some of the ways we may market to you include email campaigns, custom audiences advertising, and “interest-based” or “personalized advertising,” including through cross-device tracking.

If you have any questions about our marketing practices or if you would like to opt out of the use of your personal information for marketing purposes, you may contact us at any time as set forth in “Contact Us” below.

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D. With Your Consent

We may use personal information for other purposes that are clearly disclosed to you at the time you provide personal information or with your consent.

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E. Other Purposes

We also use your personal information for other purposes as requested by you or as permitted by applicable law.

• De-identified and Aggregated Information. We may use personal information to create deidentified and/or aggregated information, such as demographic information, information about the device from which you access our Services, or other analyses we create.

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4. HOW WE DISCLOSE YOUR PERSONAL INFORMATION

We disclose your personal information to third parties for a variety of business purposes, including to provide our Services, to protect us or others, or in the event of a major business transaction such as a merger, sale, or asset transfer, as described below.

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A. Disclosures to Provide our Services

The categories of third parties with whom we may share your personal information are described below.

• Notice Regarding Use of Blockchain Networks. Information about transactions you enter into via the Services will be recorded on the blockchain and may be accessible to third parties due to the public nature of the blockchain. Because entries to the blockchain are, by their nature, public, and because it may be possible for someone to identify you through your pseudonymous, public wallet address using external sources of information, any transaction you enter onto the blockchain could possibly be used to identify you, or information about you.

• Other Users of the Services and Parties You Transact With. Some of your personal information may be visible to other users of the Services (e.g., information featured on generally accessible parts of the contracts or on a user profile). In addition, to complete transfers via the Services, we will need to share some of your personal information with the party that you are transacting with.

• Service Providers. We may share your personal information with our third-party service providers and vendors that assist us with the provision of our Services. This includes service providers and vendors that provide us with IT support, hosting, payment processing, customer service, and related services.

• Third-Party Services You Share or Interact With. Certain features and functionalities of the Services may link to or allow you to interface, interact, or share information with, access and/or use third-party websites, services, products, and technology (collectively, “Third-Party Services”). Any information shared with or otherwise collected by a Third-Party Service may be subject to the Third- Party Service’s privacy policy. We are not responsible for the processing of personal information by Third-Party Services.

• Affiliates. We may share your personal information with our company affiliates.

• Advertising Partners. We may share your personal information with third-party advertising partners. These third-party advertising partners may set Technologies and other tracking tools on the Services to collect information regarding your activities and your device (e.g., your IP address, cookie identifiers, page(s) visited, location, time of day). These advertising partners may use this information (and similar information collected from other services) for purposes of delivering personalized advertisements to you when you visit digital properties within their networks. This practice is commonly referred to as “interest-based advertising” or “personalized advertising.”

• APIs/SDKs. We may use third-party application program interfaces (“APIs”) and software development kits (“SDKs”) as part of the functionality of our Services. For more information about our use of APIs and SDKs, please contact us as set forth in “Contact Us” below.