Backpack authentication before TGE launch

When Backpack Betrays the Community

Backpack triggered strong backlash after launching its native token $BP due to airdrop distribution issues. Numerous KOLs and users expressed disappointment with its handling approach and criticized the project for deviating from community principles. Although the project team stated it would open an appeals process and provide compensation, user trust has been severely damaged, and the token price has dropped significantly.

Radical Action: Can Balancer Break Out of Its Darkest Hour?

Author: KarenZ, Foresight News On November 3, 2025, a security incident resulting in losses exceeding $120 million largely shattered the growth illusions of DeFi legacy protocol Balancer. This was Balancer's largest security incident in history. But the deeper wound is not in those astronomical figures. Looking at the financial data attached in Balancer's latest proposal, its fundamentals have already become concerning: the protocol's annualized fees are approximately $1.65 million, with DAO's estimated annualized revenue at only $290,000, representing 17.5% of the total. The remaining funds flowed to veBAL holders, core pools, Balancer

40 Million RLUSD Torched on Ethereum, Is Demand Falling? - U.Today

Ripple's RLUSD stablecoin has undergone significant token burns on Ethereum, with 40 million RLUSD permanently removed from circulation. These burns reflect normal operations associated with a fully backed stablecoin, maintaining supply integrity. Despite concerns about falling demand, recent burns indicate consistent institutional usage and liquidity management. RLUSD continues to show strong market presence, currently valued at approximately $1.48 billion.

Backpack TGE Airdrop Fiasco: After 3 Years of Participation, Users Flagged as "Sybil" and Whales Collectively Seek Compensation

The Backpack trading platform has underperformed since its TGE, causing a community trust crisis. Many core users had their points reduced or zeroed out, triggering strong dissatisfaction, particularly hitting the Chinese-speaking community hard. Opaque platform rules have intensified user frustration over sybil-cleaning measures. Although Backpack has launched an appeals channel and token buyback program, rebuilding trust remains difficult. Facing a bear market, Backpack is still betting on a listing and plans to tie its token to company valuation, but specific details remain unclear.

Backpack Anti-Witch Hunt Specifically Targets "Chinese Users"? Officials Launch Appeals + Buyback Compensation

On March 23, Backpack carried out a large-scale purge of violation points, reclaiming over 50 million points, which caused dissatisfaction among Chinese-speaking users. Core member Claire stated that the Chinese team and the European and American teams had different understandings of violations, leading to greater impact on Chinese users. In response to community backlash, Backpack's founder introduced an appeal channel and a token buyback plan, allowing eligible users to recover more than 50% of their points.

Resolv Foundation: Temporarily suspends the Season 4 airdrop claim, as well as RESOLV token staking and unstaking functions

Golden Finance reported that the Resolv Foundation announced on the X platform that due to a recent security incident involving Resolv Labs' stablecoin USR, with both the protocol and applications now suspended, the Season 4 airdrop claiming function is temporarily unavailable. Additionally, the staking and unstaking functions for RESOLV tokens are also temporarily unavailable. Once the protocol recovery plan is finalized and the application can be safely used again, these functions will be restored.