USDC 
USDT 
Bitcoin 
Ethereum 
Figure Markets
Figure Markets is a U.S.-based crypto platform focused on earning yield through real-world assets (RWAs) rather than traditional DeFi strategies. The ...
Backpack
Backpack Exchange, is a fully regulated cryptocurrency exchange built by the team behind the Solana-native Backpack Wallet and the Mad Lads NFT collec...
VS
General
Platform
Figure Markets 
Backpack 
Founded
Figure Markets 2018
Backpack 2022
Headquarters
Figure Markets San Francisco, CA
Backpack Tokyo, Japan
Availability
Figure Markets Worldwide
Backpack Worldwide (lending unavailable in US, a few states restricted)
Fees & Financial
Bonus
Figure Markets $50 bonus when you deposit $500 within 30 days
Backpack
Token
Figure Markets YLDS
Backpack
Compounding
Figure Markets Yes
Backpack Yes
Payouts
Figure Markets Monthly
Backpack
Fees
Figure Markets
Backpack
Lockup
Figure Markets
Backpack Unbonding period applies
Maker Fee
Figure Markets
Backpack 0.08
Taker Fee
Figure Markets
Backpack 0.1
Cryptocurrency Rates
BTC Rate
Figure Markets
Backpack 0.03%
BTC Max
Figure Markets
Backpack
ETH Rate
Figure Markets 1%
Backpack 0.24%
ETH Max
Figure Markets
Backpack
Stablecoin Rate
Figure Markets 3.85%
Backpack
Figure Markets
Review →Pros
- First SEC-approved interest-bearing stablecoin (YLDS)
- Regulated and transparent
Cons
- Product is more complicated (i.e. a direct marketplace)
Backpack
Review →Pros
- Fully regulated in multiple jurisdictions
- Solana-native with strong ecosystem
Cons
- Lending rates are dynamic and can be low
- Newer platform
