When a Backpack stock pays a dividend, your balance increases automatically
@BackpackOnchain reinvests each dividend into more of the stock by raising a multiplier on the token
- The multiplier is built into Token-2022, so supporting wallets show your balance times it
- Kamino Swap and Lend both read it, and every reinvested share counts as collateral in the new Backpack Market curated by
@AllezLabs
This means you can borrow USDC against a Backpack stock and keep receiving its dividends, automatically as extra shares in your collateral balance without having to manually reinvest.