Your neobrokerage. Your exchange. Your money. @BackpackOnchain ο½ @MadLads ο½ $BP
Joined February 2022
- Tweets8.2K
- Following814
- Followers325K
- Likes13.5K
Backpack π retweeted
First small brick as we start overhauling the entire mobile app for a brand new experience. Big bricks next.
Getting started with Backpack just got easier.
You can now sign up or log in with your Google or Apple account.
Get started β backpack.exchange/signup
Backpack π retweeted
Letβs build the best brokerage in the world
Vibhu explains how @Backpack lets users turn tokenized stocks back into actual shares
"Backpack is a full brokerage, so it's one-to-one. They seed liquidity, and if demand outweighs the supply onchain, they progressively buy more shares on the brokerage side and mint them onchain."
"And you can redeem your tokenized equity for the actual share itself. They built an equity bridge that works on both sides. I can take my equity from my brokerage and move it onchain, or take it off, and it remains equity the entire time."
Backpack π retweeted
Backpack Supercycle
Really clean onboarding for Backpack.
Foolishly didn't listen to our analysts when they said to buy $BP at $120m fdv.
I'm in at $1.3b... still cheap for potentially the hottest exchange of this cycle and a clean bet on tokenization.
Backpack π retweeted
He wrote Anchor. Then he built Backpack.
@armaniferrante has shaped how Solana gets built and how it gets used, and with Backpack's brokerage and tokenized stocks, he's showing what happens when Wall Street's assets live on Internet Capital Markets.
Backpack π retweeted
Checkout our new Rates page to explore Treasury bond ETFs.
Should be interesting for anyone looking for alternative yield products.
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backpack.exchange/stocks/ratβ¦
Rates are making headlines. Now they're easier to follow & trade.
Introducing the Rates dashboard on Backpack.
Monitor live yields, inflation, the debasement trade, and the events moving markets.
Explore Rates. Trade US Treasury ETFs β backpack.exchange/stocks/ratβ¦
Backpack π retweeted
Backpack's strategy isn't just to get licenses--people have done that and will do that.
Backpack will build the first regulated, unified Crypto + TradFi aggregation layer in the world.
- There won't be Backpack offshore vs Backpack onshore.
- There won't be fragmented liquidity.
- There will be one system worldwide.
CeFi and DeFi, together.
Would you believe me if I told you @Backpack is just getting started?
Imagine once they fully open to the US, EU, and Japan.
Backpack π retweeted
Next: bringing the entire stock market to Solana.
One API connecting brokerage and DeFi. 1:1 in-kind redeemable.
Armani Ferrante, CEO of Backpack, on what comes next for tokenized stocks.
"Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana. One API where a real share, by any definition of the term, moves back and forth between your brokerage account and DeFi. Going from 200 symbols to 10,000 is the next leap."
@armaniferrante @Backpack
Backpack π retweeted
Backpack, the Engine for Internet Capital Markets and Tokenization.
frictionless.capital/articleβ¦
A thesis piece on how the United States is in the process of exporting its capital markets in the same way the dollar was tokenized with stablecoins and distributed over the Internet.
Backpack π retweeted
Important step for @Backpack today.
Going forward, every stock/ETF perpetual listing unlocks the underlying spot asset as margin collateral.
- Borrow against your stocks
- Trade against your stocks
- Hedge against your stocks
Real security entitlements, all portfolio margined with your Backpack account in a modern brokerage for the entire stock market.
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Backpack π retweeted
To all developers building stocks on @solana, the @Backpack Securities mint + redeem is open access.
Transform a bona fide security entitlement to and from a token with a single API call.
Docs here docs.backpack.exchange/
STOCKLANA
The stock market is open for building.
One week to build something innovative with stocks on Solana. $100K in prizes.
Sept 11 - 18, opening bell to closing bell:
hackathons.solana.com/hackatβ¦
Backpack π retweeted
Backpack π retweeted
Tokenization is the most important change coming to financial markets in our lifetime.
I am a tokenization maximalist.
However.
There's real substance behind @CEOAdam's criticism to learn from.
It boils down to one thing π
Robinhood apparently is behind an effort related to βtokenized real-world assets including Stock Tokensβ for AMC Entertainment (and supposedly 190+ other companies). They are not registered under U.S. securities laws !!!!!!
I find this practice to be contemptible, outrageous, disgusting, detestable, inexcusable, vile. How can it possibly be legal? We have no connection to this at all, and do not condone it in any way.
We immediately are going to have our outside securities counsel look into this.
docs.robinhood.com/rhj
Stock Tokens are not registered under U.S. securities laws and may not be offered, sold, or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. persons. Offers and sales of Stock Tokens are subject to restrictions in other jurisdictions, including, without limitation, Canada, the United Kingdom, and Switzerland. A full list of the jurisdictions in which offers or sales are restricted or prohibited is available here: docs.robinhood.com/rhj
Robinhood Assets (Jersey) Limited is a private limited company incorporated in Jersey, with its registered address at First Floor, La Chasse Chambers, Ten La Chasse, St. Helier, JE2 4UE, Jersey. The Issuer is registered under the registration number 162428.
Stock Tokens have not been and will not be registered under the U.S. Securities Act of 1933, as amended from time to time (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States. Stock Tokens may not be offered, sold or delivered within the United States to, or for the account or benefit of U.S. Persons (as defined in Regulation S under the Securities Act ("Regulation S")), and (ii) may be offered, sold or otherwise delivered at any time only outside of the United States and to transferees that are not U.S. Persons (as defined in Regulation S)β¦.
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