Odaily News Backpack announced on the X platform that the lending feature of Backpack is officially live and supports Backpack Point rewards. Users can use assets such as BTC, ETH, SOL, XRP, and USDC as collateral to borrow without selling their assets. Among them, the lending feature allows users to deposit encrypted assets to earn floating returns; the borrowing feature allows users to borrow assets like USDC with encrypted assets as collateral. Backpack warns that borrowing carries liquidation risks and currently only offers lending services, excluding Spot and Perptual Futures. In addition, Japanese residents can now participate in the Backpack Point reward program, which they were previously unable to access.
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