First, I point out that your core error is estimating the airdrop by treating Backpack as an ordinary project/crypto exchange. Second, I point out that you have overlooked the personal political energy of founders like Armani Can, and the urgent market need for a new CEX (non-Binance). Third, I point out that you have ignored that Backpack is a technical product shell, with compliant capital as flesh, geopolitics as soul, disguised as a CEX, and a major channel in the crypto market. What is feared is not giving airdrops to retail investors, but that you haven't gotten on board. Simply put, Backpack is not an independent CEX, but a cooperation body for multi-national capital power arbitrage. Possessing political neutrality, it is a typical geopolitical structural exchange sample, though currently lacking a sustainable commercial closed loop (revenue dependent on activity-driven), but the non-consensus here is the true source of odds and winning rates. It cannot be compared with market-maker-originated exchanges driven by products. What is compliance? Compliance is monopoly, and monopoly represents that I can do what you cannot - a violent rent-seeking of power. This is an emerging form of a new type of crypto exchange not yet recognized by the market, more like a political capital experiment with power structure preceding platform implementation. You ask me what innovation is? Is it copying and replicating what others do on BSC? Backpack will reconnect the legs that FTX broke. That is innovation!

Delete it quickly so that you won't see it.