Backpack: Provide cash compensation plans for users affected during the market crash on October 11, and will announce a new roadmap

ChainCatcher news, Backpack announced that it has completed the verification and handling of all cases during the market flash crash on October 11. Throughout the event, Backpack did not experience any socialized loss or clawback, and the risk engine remained stable under extreme pressure, with the system operating normally during and after the incident.

To assist affected users, Backpack has launched a cash compensation plan, including:

Basis trade (spot-futures arbitrage) accounts:

Accounts with leverage below 5x will receive a 100% subsidy;

Accounts with leverage above 5x will receive partial non-subsidy based on the leverage ratio and market conditions.

Users with BTC lending positions that were passively reduced due to ADL: 100% subsidy.

Funds recharged before settlement: 100% disbursed.

All liquidation fees: 50% refunded.

In addition, Backpack will announce a new roadmap outlining plans and feature releases for the coming days, weeks, months, and the next year.