Provider by region EU Trek Labs Europe Ltd, "Trek Technologies" SIA UAE Trek Labs Ltd FZE US Trek Labs, Inc.
Backpack Learn is the guide section of Backpack: three in-depth guides on perpetual futures, proof of reserves and tokenized stocks, a glossary of trading terms, and links to the product, fee and licence pages each guide refers to, all written by the research team and checked against primary sources.
For information only. Not investment advice. Perpetual futures are leveraged and a position can be liquidated; lending rates are variable and not guaranteed; the value of shares can fall as well as rise.
Backpack Learn covers the three subjects that the product pages on this site rely on and are too short to explain in full. The first is how a perpetual future works: funding payments, margin, mark price and liquidation, followed through one illustrative position from open to close. The second is proof of reserves: what an exchange shows when it publishes one, what stays outside the proof, and how a client can check that their own balance was counted. The third is tokenized stocks: the three legal models that share one name, and what each means for ownership, dividends and a transfer to another broker.
Every guide answers its main question in the first paragraph, gives a worked example or a comparison table, states the risks and the limits, and ends with a list of sources. Where a guide refers to Backpack, it quotes Backpack's own pages or a regulator's register and says which one. A figure that could not be confirmed is left out, not estimated.
The guides are written for two kinds of reader. If you are new to crypto exchanges, each term is defined where it first appears, no knowledge of derivatives or custody is assumed, and the suggested reading order starts with how to check that an exchange holds its clients' assets before you fund an account. If you already trade, you can go straight to the mechanics, then to the fee schedule and the glossary, which defines 24 terms in one sentence each and links every term to the page where it matters.
Backpack Learn does not publish trade ideas, price forecasts or product promotions. Nothing here is investment advice, and no guide can tell you whether a product is suitable for you. Perpetual futures are leveraged derivatives, lending rates are variable and not guaranteed, and the value of shares can fall as well as rise. The guides say so where it applies and point to the risk disclosure for each product.
Backpack's existing blog at learn.backpack.exchange listed 546 English articles in its sitemap on . This section starts with three reference guides; further guides are named below as planned and are linked only once they are published.
A perpetual future is a derivative with no expiry date. The guide follows one illustrative position through funding, margin and liquidation, and compares perpetuals with spot and dated futures.
A proof of reserves compares the assets an exchange controls with what it owes clients at one moment. The guide explains Merkle trees, zero-knowledge proofs and five steps to verify one.
A tokenized stock is a blockchain token linked to a listed share. The guide sets out three legal models and what each means for ownership, dividends, trading hours and regulation.
Check the venue first: what a proof of reserves shows and what it leaves out.
Know what you would own: how a tokenized stock differs from an ordinary share.
Understand leverage before you use it: how perpetual futures work, step by step.
The mechanics in one read: funding, margin and liquidation in perpetual futures.
The exact terms: mark price, margin modes and fee terms in the crypto trading glossary.
What a trade costs: maker and taker tiers on the Backpack fee schedule.
Product page: perpetual futures on Backpack.
Product page: US stock trading on Backpack.
Related pages: Backpack proof of reserves and licence numbers and register links for each Backpack company.
No lending guide is published yet. Product page: lending and borrowing on Backpack, with the dated rates and the risks.
All 24 definitions, in six groups, are in the glossary of trading, lending and custody terms.
The first guide follows one illustrative position from open to close, with funding, margin and liquidation in order. About 15 minutes. For information only. Not investment advice.