
星球日报|Oct 20, 2025 00:21
[Backpack: Cash compensation plan for users affected during the October 11 market flash crash, and announcement of a new roadmap]
Odaily Planet Daily reports that Backpack has issued an announcement stating that it has completed the review and handling of all cases related to the October 11 market flash crash. Throughout the incident, Backpack did not experience socialized loss or clawback, and its risk engine remained stable under extreme stress. The system operated normally during and after the event.
To assist affected users, Backpack has introduced a cash compensation plan, including:
- Basis trade (spot-contract arbitrage) accounts: Accounts with leverage below 5x will receive 100% compensation; accounts with leverage above 5x will receive partial compensation based on leverage and market conditions.
- BTC lending positions affected by ADL (automatic deleveraging) passive liquidation: 100% compensation.
- Funds deposited before settlement: 100% disbursed.
- All liquidation fees: 50% refunded.
Additionally, Backpack will announce a new roadmap outlining plans and feature releases for the coming days, weeks, months, and the next year. Backpack is steadily moving toward the conclusion of Season 4, with several long-prepared and significant updates still underway.
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