Backpack: Providing cash subsidies to users affected by the October 11th market crash and announcing a new roadmap

Backpack announced that it has completed the verification and handling of all cases during the October 11th flash crash. Throughout the incident, Backpack experienced no socialized losses or clawbacks. Its risk engine remained stable under extreme pressure, and the system continued to operate normally during and after the incident. To assist affected users, Backpack has launched a cash compensation program, including: Basis trade (spot-contract arbitrage) accounts with leverage below 5x will receive a 100% subsidy; accounts with leverage above 5x will receive a partial refund based on leverage and market conditions. Users whose BTC lending positions were passively reduced due to ADL will receive a 100% subsidy. Funds deposited before settlement will receive a 100% refund. All liquidation fees will receive a 50% refund. Additionally, Backpack will release a new roadmap outlining plans and feature releases for the coming days, weeks, months, and year. Backpack is steadily moving towards the final stages of Season 4, with some long-awaited and significant updates still on the way.