Backpack has launched its coin farming campaign, which will last for 10 weeks. Every week, we will earn points for trading in the app. Later, these points will be converted into project tokens. Here’s an overview of Backpack first farming season.
Overall, you can expect at least a 2-3x return on the fees spent. If you trade wisely, you can make a profit even before the airdrop and avoid spending anything on fees. Later, you’ll receive the project’s tokens as well. The rewards will be distributed in $BACKPACK tokens. Let’s dive into the details.
Backpack first farming season
The airdrop from the developers is confirmed. The project is solid, so I’m 100% sure there’s money to be made. The season officially started on March 21, so we have plenty of time.
Backpack has massive investments behind it, meaning active users will be well rewarded.
How to earn points in Backpack
Register using this link. You can either download the app on your phone or install the extension on your computer.
Complete the registration and verify your account with an ID document.
After registration, deposit USDC on the Solana network and simply trade on spot or futures markets. The risks are minimal, the project has a strong track record, and the airdrop could be very generous.
Trading on spot is straightforward: buy low, sell high. Or simply buy/sell quickly, but this will incur trading fees.
Futures trading is slightly different. The best strategy is to hedge positions using Paradex. Paradex has a similar farming system, allowing you to earn points for both projects simultaneously. For example, choose BNB:
Open a short position on Backpack.
Open a long position on Paradex.
Hedge your positions and earn rewards.
If you’re not sure how this works, look for tutorials on YouTube explaining the strategy.
Trading strategy recommendations
If you’re already trading, this is a top-tier opportunity. But even beginners can participate.
I recommend starting with spot trading. Points are awarded based on trading volume, so you should maximize it. For example:
Buy $100 worth of crypto and immediately sell it.
Your total trading volume is now $200 (buy + sell).
There will be a small trading fee since you didn’t wait for price movement.
Alternatively, you can wait for a slight price increase to cover the fees or target at least a 10% gain to ensure profit.
Beginners should avoid futures trading, as it’s easy to lose your entire budget quickly. Spot trading is the safest option.
When are points credited? Points are distributed every Friday. Maximize the trading volume you can afford. Backpack’s first farming season is set to reward active users generously.
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