Overview
Backpack was created in 2022 by Armani Ferrante and the team behind the Anchor framework for Solana. It became famous through the Mad Lads NFT collection and later launched the Backpack Exchange, a regulated exchange that also acquired FTX’s former European business. The wallet is self-custody and separate from the exchange.
Features
- Solana-first, with support for Ethereum, Sui, Base, Arbitrum, Polygon and other chains.
- Swaps, staking and NFT management.
- Manage multiple wallets with one recovery phrase.
- Easy connection with Backpack Exchange.
Security
The wallet has no record of a major hack. The team’s past links to FTX and Alameda (some founders worked there) concern some users, though Backpack itself was not involved in FTX’s collapse.
Pros and cons
Pros
- Clean, fast Solana experience.
- Growing multichain support.
- Link to a regulated exchange.
Cons
- Smaller user base than Phantom.
- Fewer features than leading multichain wallets.
Who it’s for
Solana users, especially Mad Lads holders and Backpack Exchange customers.
Verdict
Backpack is a well-made Solana wallet with an interesting exchange ecosystem around it. Phantom remains more complete, but Backpack is a credible alternative.