Backpack Exchange Airdrop Guide

Sign up and verify

The first step is to sign up here. Some important things to note: You will need to enter your Email, Password and also verify by KYC (Know your customer). The KYC process is very quick and will most likely take under 10 minutes. Certain countries and states are not eligible for this but the backpack team is always updating the allow list so keep up to date with their twitter and this post!

Deposit Funds

Click “Deposit” in the top right hand corner and deposit any of your favourite cryptocurrencies. These include $SOL, $USDT or $USDC. My preferred currency to deposit is $USDC.

Trade

In order to qualify for the airdrop we need to generate some trading volume which involves choosing a pair and trading. Avoid USDT/USDC. Any other pairs are fine, I choose SOL/USDC. Navigate to “trade” and long the market you chose then close the trade quickly to generate trading volume.

Trading Fees

When doing swaps you will experience some small fees. The current rate is for $1000 in trading volume you will experience $1 in fees, this is known at the taker fee. If we want to hit $100 000 in trading volume we should expect to pay $100 in fees. If you have the funds I would seriously aim for $100 000+ in volume as quick as you can after reading this.

While this isn’t ideal in order to get the best airdrops we have to be willing to give some money to fees.

Check your volume

You can check your volume to see how much volume you have created.

Bonus: Download the backpack wallet

While the backpack wallet isn’t needed for the exchange it has some other great benefits such as multipliers on other DEFI platforms such as a 1.1x boost on marginfi.