UAE Digital Bank Zand Expands Collaboration with Ripple, Will Explore Issuance of AEDZ on XRPL

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.

Backpack launches BP token on Solana with 25% airdrop, no insider allocation

Backpack Exchange launched its cryptocurrency token, BP, on Monday, distributing 25% of its total supply through airdrops, primarily benefiting active users. The token's structure emphasizes user allocation over insiders, with future unlocks tied to company growth and potential IPO plans.

Balancer Labs Shuts Down, Eyes a Fresh Start

_Balancer co-founder Fernando Martinelli announces BLabs shutdown after a damaging exploit, outlining a leaner path forward for the protocol._ Balancer Labs is shutting down. Co-founder Fernando Martinelli made the announcement in a detailed post addressed to the Balancer community.  He cited

Backpack: To Open Appeal Channel, Users Operating 3 or Fewer Accounts on a Single Device Will Receive Points Refund and Token Buyback Compensation

Blockchaintimes reports that the Backpack team, in response to Sybil detection issues, has decided to open an appeal channel and establish new criteria to compensate affected users through targeted compensation via token buybacks.