BlockBeats News, October 20th, Backpack announced a cash subsidy plan for the market flash crash event on October 11th, targeting Basis trade (Spot-Futures 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 level and market conditions;
· Users with BTC borrowing positions liquidated passively due to ADL: 100% subsidy;
· Funds deposited before settlement: 100% distributed;
· All liquidation fees: 50% rebate.
