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Backpack vs Figure Markets
Compare rates, fees, access, and key features side by side.
Backpack
Quick takeBackpack offers exchange-based lending and Solana earning products with terms that depend on the asset. Its strongest feature is Auto-Lend, ...
Score3.9Our editors score every platform independently. Partnerships never influence the rating.
VS
Figure Markets
Quick takeFigure Markets offers two distinct ways to earn: YLDS, an interest-bearing digital security designed to maintain a stable value, and Democra...
Score4.0Our editors score every platform independently. Partnerships never influence the rating.
General
Platform
Backpack
Figure Markets
Founded
Backpack2022
Figure Markets2018
Headquarters
BackpackTokyo, Japan
Figure MarketsSan Francisco, CA
Availability
BackpackWorldwide (lending unavailable in US, a few states restricted)
Figure MarketsWorldwide
Fees & Financial
Bonus
Backpack
Figure Markets$50 bonus when you deposit $500 within 30 days
Token
Backpack
Figure MarketsYLDS
Compounding
BackpackYes
Figure MarketsYes
Payouts
Backpack
Figure MarketsMonthly
Fees
Backpack
Figure Markets
Lockup
BackpackUnbonding period applies
Figure Markets
Maker Fee
Backpack0.08
Figure Markets
Taker Fee
Backpack0.1
Figure Markets
Cryptocurrency Rates
BTC Rate
Backpack0.02%
Figure Markets
BTC Max
Backpack
Figure Markets
ETH Rate
Backpack0.13%
Figure Markets1%
ETH Max
Backpack
Figure Markets
Stablecoin Rate
Backpack
Figure Markets3.85%
Backpack
ReviewPros
- Auto-Lend can allocate supported idle balances without repeated manual subscriptions.
- SOL returns can include validator, block, and Jito MEV rewards.
- A balance threshold can keep part of an eligible asset outside Auto-Lend.
Cons
- Exchange lending is unavailable to U.S. customers and may have other regional limits.
- Lending rates change with pool demand and are not guaranteed.
- Backpack USD is an internal unit that cannot be withdrawn directly.
Figure Markets
ReviewPros
- Offers two differentiated yield models: an SEC-registered interest-bearing digital security and collateralized lending pools.
- Democratized Prime shows pool rates, utilization, collateral, and available liquidity, and does not charge lender fees.
Cons
- Exiting a lending pool depends on available liquidity and can require waiting for another lender to enter.
- YLDS is an unsecured investment security without FDIC insurance or a bank guarantee; SEC registration is not SEC approval.
