Securities, Markets, and DeFi. From wallet to rails. Powered by @Backpack
Joined November 2024
- Tweets390
- Following53
- Followers14.1K
- Likes1.5K
Backpack Onchain retweeted
The Backpack Market supports cross-collateral borrowing, so several stocks can back one USDC loan.
- @AllezLabs, the market’s curator, gives each stock its own borrowing limit
- Your loan’s limit is the total across your stocks, so a price rise in any one of them adds to how much you can borrow.
- If the loan reaches its liquidation point, the stock with the lowest liquidation LTV is sold first
This means you can borrow against your @backpackonchain stocks together, in one loan with one borrowing limit
Backpack Onchain retweeted
Stablecoins were the first hard part. Equities are the second.
@armaniferrante, @Backpack's founder, on why, once equities are on chain, the step to fixed income, private credit and real estate gets small.
Solana is the RWA chain.
Backpack Onchain retweeted
NEW: @Backpack PARTNERS WITH KOREAN BROKER SK SECURITIES
ELIGIBLE USERS CAN TRADE KOREAN STOCKS IN THE BACKPACK APP
DEAL ALSO LAYS GROUNDWORK FOR TOKENIZED SECURITIES AND RWAS
Backpack Onchain retweeted
It’s an honor to partner with SK Securities to bring Korea’s capital markets to Backpack Securities. Tokenization is the most important update to global finance this year. This is it. We’re in the midst of history.
Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securities’ institutional expertise in Korea’s capital markets with Backpack’s global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
Backpack Onchain retweeted
Backpack and SK Securities are partnering to expand global access to Korean equities.
The partnership combines SK Securities’ institutional expertise in Korea’s capital markets with Backpack’s global reach to bring Korean stock trading to eligible investors through the Backpack app.
Building on our existing U.S. securities platform, the partnership also lays the foundation for collaboration in tokenized securities and real-world assets, connecting established capital markets with blockchain-based financial infrastructure.
Another step toward a single globally regulated financial marketplace.
Backpack Onchain retweeted
Backpack gives users a 1:1 path between an actual brokerage position and a stock token on Solana
Now these tokens can be used as collateral on Kamino to borrow USDC, a great example of the onchain equity stack coming together
Introducing the Backpack Market on Kamino.
Kamino is expanding loans backed by tokenized equity on Solana with @Backpack Securities, bringing 1:1-backed, redeemable tokenized U.S.-listed equities directly into onchain credit markets.
Backpack Onchain retweeted
Borrow lending—the next crucial brick to usher in the next leg of tokenized security growth on @solana by the best in the business @kamino
Introducing the Backpack Market on Kamino.
Kamino is expanding loans backed by tokenized equity on Solana with @Backpack Securities, bringing 1:1-backed, redeemable tokenized U.S.-listed equities directly into onchain credit markets.
Backpack Onchain retweeted
Allez Labs is onboarding @Backpack Securities tokenized equities, as collateral on @Kamino.
The Backpack Market pairs MU, SKHY, SPCX and SNDK collateral with USDC borrowing.
Introducing the Backpack Market on Kamino.
Kamino is expanding loans backed by tokenized equity on Solana with @Backpack Securities, bringing 1:1-backed, redeemable tokenized U.S.-listed equities directly into onchain credit markets.
Backpack Onchain retweeted
Sunday is just another market day on Solana
Backpack Securities led all issuers by 24h volume, with $105M+ traded on a Sunday while traditional US markets were closed.
24/7 equity markets, natively on @Solana.
Build on Backpack 🎒
Source: @Birdeye_so
Backpack Onchain retweeted
People sleep on how much liquidity @BackpackOnchain has onchain on the weekend. If news breaks on a Sunday, you can actually do something about it.
Two Sundays ago, $TTWO ripped 12% onchain while the market was closed. A $240 sell limit set on Friday on @Titan_Exchange would've filled into the spike and beaten Monday's open by 12%.
Backpack Securities led all issuers by 24h volume, with $105M+ traded on a Sunday while traditional US markets were closed.
24/7 equity markets, natively on @Solana.
Build on Backpack 🎒
Source: @Birdeye_so
Backpack Onchain retweeted
Across the 9 stocks that all issuers listed, @BackpackOnchain led on all-time turnover rate: its tokens traded 182x their market cap from launch to Oct 21.
Tokens by tokens, Backpack also led turnover rate in 5 out of 9: MRNA, SPCX, NFLX, AMD & SNDK.
More insights in our report 👇
Backpack Onchain retweeted
Backpack started with a world map on an office wall in Chicago.
Today it runs a US broker-dealer issuing real stocks onchain, trading on @solana around the clock.
CEO @armaniferrante: "To build something that would ultimately stand the test of time."
Backpack Onchain retweeted
.@Backpack led tokenized stock holder growth over the past 24 hours, adding 16.3K holders.
Via @tokenterminal
Backpack Onchain retweeted
TSMC reports Q3 earnings, with record net profit up 69% year over year.
▸ Revenue: $46.72B vs. $44.93B est. ▲
▸ EPS (ADR): $4.60 vs. $4.48 est. ▲
$TSM -1.49% overnight
