(Potential) Backpack Airdrop Guide and Wallet Details on Solana
Learn more about the activities to earn more points in the upcoming potential Backpack airdrop on Solana.
- Backpack is a Solana-based web3 wallet that functions as a non-custodial wallet.
- The popularity of the wallet started when the Backpack ecosystem introduced Mad Lads, an executable NFT (xNFT) that is currently among the top PFP collections on Solana.
- Backpack’s front feature is its “Boost Your Program.” Basically, when Backpack users connect their Backpack wallet to these dapps to join an airdrop program, they can boost their crypto points.
Today’s airdrop campaigns have been gamified. This means that participants have to do tasks, execute transactions, and even hold certain tokens.
However, the similarities between these campaigns are prominent—participants have to connect their web3 wallets first.
In the Solana ecosystem, there is a wallet that can be used to boost crypto points from the airdrop campaigns of other projects.
Consequently, it introduced its own exchange, which is also expected to host an airdrop.
Read more:
- [March 2024] Ultimate Guide to Solana Airdrops 2024
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Table of Contents
Backpack Ecosystem: A Brief Overview
Backpack (https://backpack.app/) is a Solana-based web3 wallet that functions as a non-custodial wallet.
Within Backpack Wallet, users can:
- Send and receive tokens
- Swap crypto
- Buy crypto with fiat
- Hold NFTs
- Trade NFTs
- Interact with xNFTs
The popularity of the wallet started when the Backpack ecosystem introduced, Mad Lads, an executable NFT (xNFT) that is currently among the top PFP collections on Solana. It is because Mad Lads NFTs can be stored and traded on the Backpack wallet.
Aside from the wallet and an xNFT collection, the Backpack ecosystem also has Anchor, a Solana smart contract framework.
“The Backpack team is an all-star team that really understands the community with a focus on building compliant services. Their ability to create the best user experience is top-notch, and the synergies within their ecosystem are evidenced by their strong track record of user acquisition within the industry to date,” an investor commented during Backpack’s strategic series round A campaign.
Read: Solana Wallet Backpack Secures $17M Funding
Benefits of Backpack Wallet: Multiplier to Other Airdrop Programs
Backpack’s front feature is its “Boost Your Program.” Basically, when Backpack users connect their Backpack wallet to these dapps to join an airdrop program, they can boost their crypto points.
- MarginFi: x1.05
- Zeta Markets: x1.1
- Tensor: x1.25
Multipliers literally multiply the crypto points collected by participants in an airdrop campaign.
In this case, if a participant joined the crypto points system of these three dapps, and collected 1,000 points, using the Backpack wallet would result in them having:
- MarginFi: 1,050 points
- Zeta Markets: 1,100 points
- Tensor: 1.250 points
Backpack Exchange: Earn Points by Trading
Before 2023 ended, Backpack introduced its own exchange, the Backpack Exchange (https://backpack.exchange/), which is regulated by the Virtual Assets Regulatory Authority of Dubai.
On February 14, 2024, it started its seems-to-be airdrop campaign by announcing that “Volume matters: Starting 2/14, trade to compete for your Rank.”
Technically, the exchange seems to follow a leaderboard system where the reward that a participant might get depends on their rank or tier.
As of this writing, the Backpack Exchange is still in Beta mode, and its airdrop campaign is said to be happening to promote the exchange.
The airdrop campaign also seems to happen in multiple seasons, as it is currently in its “pre-season” phase.
No further details have been disclosed yet, and most are just speculations and intelligent guesses. The rewards are also not yet known if it will be Backpack’s native token, a free gas fee, or xNFTs.
To be safe, interested participants can:
- Start trading on the exchange on https://backpack.exchange/trade/SOL_USDC.
- Execute large volumes of trade.
- Secure high profits.
- Consistently trade.
This article is published on BitPinas: (Potential) Backpack Airdrop Guide and Wallet Details on Solana
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