BlockBeats News, April 10, Backpack's CEO Armani Ferrante shared some interesting insider news on social media! The market has been a bit chaotic recently, leading to a historical peak in Backpack's system load. The team is working overtime to scale up to meet the growing demand from users. Although it cannot guarantee that the system is 100% perfect, Armani is confident in the performance of the risk engine, believing it will become one of Backpack's core components.🌟

Armani also mentioned the collapse of FTX, which is big news! He stated that this incident made the market realize the importance of risk engines and custody. Backpack has learned from this and prioritized building a robust and transparent risk management system to ensure the safety of user funds. It is worth mentioning that Backpack does not operate its own market makers and has no motivation to liquidate users; 99.82% of liquidations are completed on the order book, ensuring fair trading for market participants.

To provide more peace of mind, Armani detailed Backpack's three-step liquidation process: order book liquidation, backup liquidity support, and automatic deleveraging. Through these measures, Backpack strives to reduce market impact and protect users from unreasonable liquidations. Doesn't that sound reliable?

Dear readers, what do you think of such a risk management system? Feel free to share your thoughts and experiences in the comments section! Let's discuss the future development of the blockchain industry together!