Backpack Exchange launches equity perps, stock borrow/lend, and stock-as-margin trading
Backpack Exchange launched equity perpetuals, stock borrow/lend, and the ability to use stocks as margin for trading, with USD borrowing against stock collateral starting with MU and SNDK. The exchange plans to rapidly expand collateral to every stock.
Detected & updated continuously · Source: Nebula
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@SolanaLegend
Backpack Exchange has just launched equity perps, borrow/lend for stocks, and also the ability to use stocks as margin for trading. This is a MASSIVE leap forward in capital efficiency and asset selection for the type of trades that you can put on.
@armaniferrante
What might get lost in this announcement is something super simple but super exciting: - You can now borrow (and withdraw) USD against your stocks on @Backpack. We're starting with MU and SNDK as collateral, but we'll be rapidly expanding collateral to every stock in the
@SolanaCoach
Big week. Brick week. Stocks on @solana . Perps on stocks. Issued by @Backpack . https://t.co/mIxVRhxzIF