Backpack initiates the process of pledging SOL reserves, and the proceeds will be distributed to lending users

According to Foresight News, Armani Ferrante, founder of Backpack, tweeted that he has initiated the process of pledging SOL reserves, with the initial goal of distributing all pledged proceeds to lending users, and plans to expand to all deposit users in the future. At present, the monitoring platform may mistakenly report TVL data due to the lack of tracking of the pledged quantity, but the wallet address remains unchanged. It is expected that new wallets will be added to cope with the inflow. In the coming week, Backpack will update its web and mobile applications, prepare for the first batch of revenue distribution, and more details will be announced later.