Backpack Launches No-Fee De-Fi Bridge and SPL-20s Support, Transforming NFT Trading

Backpack, a prominent digital wallet, has announced the integration of the FIRST NO-FEE HYBRID De-Fi Bridge and new feature that enables users to transfer their Elements using the WNS protocol, marking a significant advancement in NFT technology. This update comes alongside the introduction of a no-fee hybrid De-Fi bridge within the Backpack wallet, allowing for seamless trading of tokens, conversion to NFTs, and trading on Tensor without incurring any fees. The process, described as a 'crazy token extension wallet flow,' includes viewing NFTs, converting them to tokens, swapping tokens for SOL, converting back to NFTs, and listing on Tensor, all possible exclusively on the Solana blockchain and through Backpack. Additionally, Backpack now supports SPL-20s, enabling users to convert them into tokens or NFTs within the wallet. This development has been praised by industry figures, highlighting the increasing distribution of Hybrid DeFi and signaling exciting times ahead for the technology.