Backpack: During a market crash, accounts with leverage less than 5x are eligible for full reimbursement

BlockBeats News, October 20th, Backpack announced a cash subsidy plan for the October 11th market flash crash event, Basis trade (Spot-Future Arbitrage) accounts:

· Accounts with leverage below 5x will receive a 100% subsidy;

· Accounts with leverage above 5x will receive a partial subsidy based on the leverage multiple and market conditions;

· Users whose BTC lending positions were liquidated passively due to ADL: 100% subsidy;

· Funds deposited before settlement: 100% distribution;

· All liquidation fees: 50% rebate.