backtrade.xyz

Trade - Stake - Earn.
Crypto perps with up to 1000× leverage.

[backtrade.xyz @backtrade_xyz]

Your liquidation prints something for once.
First exchange where the liquidation engine works for you.

Waitlist open.

https://t.co/6zXQxDILJm

[backtrade.xyz @backtrade_xyz]

@0xgodzubby @stacy_muur we were inspired by papertrade idea, but found something we can do much better

[Stacy Muur @stacy_muur]

Are you a perp trader?

If yes, there's a 99% chance you lost money, and I'm willing to bet that you only got points in return for it.

Instead of points, imagine if every losing trade earned you a cut of the exchange's trading fees.

That's the idea behind @backtrade_xyz, a new perp exchange launching on HyperEVM.

Here's how their LP/rewards system will work:

1. The LP starts at $0 with no external LP deposits
2. The pool grows from traders' losses
3. Losing trades and liquidations mint $BACK tokens
4. Staking $BACK earns a share of fees in USDC

So instead of farming points and hoping for a good airdrop, traders receive tokens when their losses contribute to the pool.

One important trade-off is that if the pool can't cover a winning trade's profit, the unpaid amount goes into a queue until enough funds become available.

Still, it's a better system than one with an arbitrary points conversion, IMO.

You can join the waitlist here: https://t.co/M5sgHtRVv9

[backtrade.xyz @backtrade_xyz]

@IamIsemin @stacy_muur https://t.co/FIFrBQFcIU 🔥

[backtrade.xyz @backtrade_xyz]

Getting this one a lot, so here is a straight answer.

There is no points program, and there is not going to be one.

Points are a promise. You farm them for months, the team decides later what they convert to, and the rate shows up in a blog post after the fact. Sometimes that works out. Sometimes the season gets extended, the allocation gets diluted, or the whole thing turns out to be a marketing budget with a leaderboard on top.

We skipped it. BACK mints to YOU on chain the moment a trade closes in the red or gets liquidated, at a rate published before you trade rather than after.

100 BACK per dollar while the pool is under $500,000. Above that it decays smoothly as more losses are priced past the threshold. No snapshot, no season, no conversion event, nobody deciding in January what October was worth.

Supply started at zero. No pre-mint, no investor allocation, no airdrop, no vesting. Only the tokenomics contract can mint, and that role was set once and cannot be reassigned. Mint parameters sit behind a timelock, so any change is visible on chain for a day before it takes effect.

You can stake it the moment you have it. Staked BACK is paid in USDC from half of every fee charged on a close or a liquidation, and from whatever the pool holds above $500,000. No lock-up, no cooldown.

[backtrade.xyz @backtrade_xyz]

With Backtrade your liquidation is not the end.

[Watcher.Guru @WatcherGuru]

JUST IN: Bitcoin falls under $73,000

$200,000,000 worth of crypto longs liquidated in the past 15 minutes.

[backtrade.xyz @backtrade_xyz]

@secretweaponeth @Defi_Warhol @papertrade_xyz good argument, but we're better

[backtrade.xyz @backtrade_xyz]

@superpobe @Defi_Warhol Yes Pobe!

[backtrade.xyz @backtrade_xyz]

@XBTkaz 3-4 days, setting a reminder

[backtrade.xyz @backtrade_xyz]

@seth_fin someone's losing billions. soon that won't be the end of the story

[backtrade.xyz @backtrade_xyz]

@coinbureau whatever MSCI decides tonight, someone's getting liquidated on the move

[backtrade.xyz @backtrade_xyz]

@XNXX_EN @Supers6061 seconds 🔥

[backtrade.xyz @backtrade_xyz]

@DeFiTracer the plan is a lot of waiting

[backtrade.xyz @backtrade_xyz]

@TedPillows perps leading. soon with 1000x and no funding

[backtrade.xyz @backtrade_xyz]

@GordonGekko bullish until you remember how rainbows work

[backtrade.xyz @backtrade_xyz]

@MuroCrypto waiting months is easier with no funding

[backtrade.xyz @backtrade_xyz]

@degennQuant imagine if those 90% paid you something back👀

[backtrade.xyz @backtrade_xyz]

@Riowgmi one more perp dex coming, and it pays you when you lose👀

[backtrade.xyz @backtrade_xyz]

@frankdegods they were waiting for you to close your short first

[backtrade.xyz @backtrade_xyz]

@0xPickleCati still $20k. better than most altcoins from 2021

[backtrade.xyz @backtrade_xyz]

@0xpjvalor checking!

[backtrade.xyz @backtrade_xyz]

Getting this one a lot, so here is a straight answer.

There is no points program, and there is not going to be one.

Points are a promise. You farm them for months, the team decides later what they convert to, and the rate shows up in a blog post after the fact. Sometimes that works out. Sometimes the season gets extended, the allocation gets diluted, or the whole thing turns out to be a marketing budget with a leaderboard on top.

We skipped it. BACK mints to YOU on chain the moment a trade closes in the red or gets liquidated, at a rate published before you trade rather than after.

100 BACK per dollar while the pool is under $500,000. Above that it decays smoothly as more losses are priced past the threshold. No snapshot, no season, no conversion event, nobody deciding in January what October was worth.

Supply started at zero. No pre-mint, no investor allocation, no airdrop, no vesting. Only the tokenomics contract can mint, and that role was set once and cannot be reassigned. Mint parameters sit behind a timelock, so any change is visible on chain for a day before it takes effect.

You can stake it the moment you have it. Staked BACK is paid in USDC from half of every fee charged on a close or a liquidation, and from whatever the pool holds above $500,000. No lock-up, no cooldown.

[backtrade.xyz @backtrade_xyz]

@Mattertrades you warned us, we're building the place to act on warnings like this 👀