šŸ’šŸŽ’ Do you know what hockey stick growth looks like? @Backpack is writing the playbook in real-time. Let me show you: šŸ”¢ Headline Totals (last 12 months) • $196.5B Total Volume • $504.5M Open Interest • $497.5M Lent • $245.5M Borrowed
2/ The Curve That’s not just growth, that’s a fockin’ hockey stick. šŸ“ˆ Volume almost $200B in a year, climbing vertical. Open Interest stable near half a billion. Lending desk almost tapped out. This is product-market fit in beast mode.
3/ For comparison: • Whitepaper-only projects are raising at $1B FDVs. • Backpack is pushing real throughput, revenue, and custody - without U.S., full EU, or Japan markets live yet. Imagine the numbers when those switches flip. šŸŒ
/4 Lending / Borrowing Engine $497M lent vs $245M borrowed. Markets can’t get enough liquidity. Rates holding steady, spikes on hot assets (SUI, USDT). This isn’t just perp volume. It’s a full-stack exchange ecosystem building leverage safely.
/5 Custody and Safety $401M+ assets under custody. Backpack isn’t just trading - it’s custody, lending, margin. With regulatory licenses across multiple regions. Meanwhile, other exchanges are still praying for compliance.
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