Backpack CEO: Take FTX as an example and prioritize building a transparent and robust risk control system to ensure the safety of user funds
04-10 07:01
Odaily News Backpack CEO Armani mentioned FTX and Alameda Research. Backpack took the collapse of FTX as a lesson and prioritized building a robust and transparent risk management system to ensure the safety of user funds. Backpack does not operate its own market makers, has no motivation to liquidate users, and prioritizes fair liquidation on the order book (99.82% of liquidations are completed directly on the order book), allowing any market participant to participate in transactions fairly. In addition, Armani also explained Backpack's three-step liquidation process (order book liquidation, backup liquidity support, automatic deleveraging), and reduced market shocks through measures such as gradual liquidation and price impact bands to protect users from unreasonable liquidations.
最热快讯
资讯热榜
日榜
周榜
Hyperliquid’s 50x leveraged BTC short position turned from loss to profit, with a floating profit of over $600,000
James Wynn wrote a long article about himself: He started playing with contracts in March, earned 8-digit profits from Meme coins, and lost 100 million in a week
BTC rebounded and broke through 102,000 USDT, and the 24-hour decline narrowed to 2.87%
SlowMist: Lazarus hackers are using a new stealing Trojan, OtterCookie, to target cryptographic practitioners
Abraxas Capital shorts mainstream currencies for hedging, with current floating profits exceeding $55 million
TRUMP wallet official website linked to account X for the second time