1/4 Realized nobody's talking about @Backpack the right way. @armaniferrante built this Solana-native exchange after losing 88% in @FTX_Official collapse. Instead of disappearing, they somehow secured EU licensing and bought FTX Europe assets for $32.7M

My approach: Basic KYC → browser extension → hedge position (short on another platform, long here) → collect and wait https://t.co/PXMapd7dwc

4/4 Exchange actually following regulations might become an advantage soon. Product isn't broken, competitors still under sanctions. No token yet but farmer opportunities still exist. Worth asking what happens after this campaign ends.
https://t.co/embqFC0Yzd

2/4 Numbers that actually matter:
- Acquired FTX EU when everyone else avoided the mess
- Got MiFID II license while major exchanges still facing legal issues
- Running steady $10M daily volume without token incentives
- Final days of $IO campaign ending March 10th (400K tokens up for grabs)

3/4 The $IO campaign details: 390K tokens for IO/USDC traders + 10K split between 5 random users with $10K+ volume.

Great insight! Backpack's journey shows resilience and strategic adaptation in the crypto space. Securing EU licensing and acquiring FTX Europe assets at a discounted rate is a smart move, leveraging the FTX brand while focusing on regulatory compliance.