🎒 The backpack @Backpack has launched spot and contract trading for $PUMP. I experienced it right away and would like to share a few points:
1. Trading this token comes with special badges, such as being the top trader by trading volume within 24 hours, the first 50 traders to execute a trade, and the first unfortunate soul to get liquidated in the entire server, etc.
2. The current fees are ridiculously high, so you can make a small profit. However, spot trading does not support leverage, so the overall position size cannot be too large.
3. When dealing with these volatile coins and their fees, don't be misled by the N/A in the contract liquidation price column. A slight dip can still lead to liquidation, so it's advisable not to use your margin too aggressively. Otherwise, you might find yourself waking up to discover that your principal has vanished because you were chasing interest.
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