Quest Airdrops · 2026-11-07
Backtrade: 1000x leverage perps on HyperEVM, waitlist open
Overview
Backtrade is building a perpetuals venue on HyperEVM covering only BTC and ETH, advertising leverage up to 1000x, execution at the Hyperliquid mid-price with the protocol LP as counterparty, and no spread, slippage or funding fees. Only an early waitlist is open for now.
Requirements
Join the waitlist. No deposit is needed at this stage.
Reward
Early access. The $BACK token has an unusual mint mechanic: it is minted when traders close at a loss or get liquidated, at 100 BACK per dollar lost while the LP holds under 500,000 dollars, and staked BACK shares platform fees and excess LP returns paid in USDC.
Deadline
Open-ended
Ongoing
Risk notes
This is the riskiest entry in the batch, and three things matter. At 1000x leverage a 0.1% move in BTC is enough to wipe the margin. Minting only on losses means the sole way to acquire the token is to lose money, tying supply directly to user losses. And no-spread, no-slippage claims hold only while liquidity is ample, since mid-price execution and fast liquidation are both hard to sustain in volatile conditions. The waitlist is free, so looking is fine, but do not set aside capital for it.
How to take part
- Always enter through the official link listed under Source — never a shortened link from a stranger.
- Use a dedicated wallet. Start with a small transaction, confirm it behaves as expected, then scale.
- Check every requirement one by one, especially snapshot times and holding periods.
- Claim or confirm before the deadline — expired windows are rarely re-opened.