diff --git a/Cargo.Bazel.json.lock b/Cargo.Bazel.json.lock
index fa3b6a9fed89..e429f4d4ca88 100644
--- a/Cargo.Bazel.json.lock
+++ b/Cargo.Bazel.json.lock
@@ -1,5 +1,5 @@
 {
-  "checksum": "22446b7b142461d94c2d08c9fe4db5d2d9047c00777054093d2d528ed771a456",
+  "checksum": "8a3d7ef6da26d7dfd4b16144813599eb5c196373b3aa8c3c9ce5fdd998cd6417",
   "crates": {
     "actix-codec 0.5.1": {
       "name": "actix-codec",
@@ -6378,14 +6378,14 @@
       ],
       "license_file": "LICENSE-APACHE"
     },
-    "backon 0.4.1": {
+    "backon 1.6.0": {
       "name": "backon",
-      "version": "0.4.1",
-      "package_url": null,
+      "version": "1.6.0",
+      "package_url": "https://github.com/Xuanwo/backon",
       "repository": {
         "Http": {
-          "url": "https://static.crates.io/crates/backon/0.4.1/download",
-          "sha256": "0c1a6197b2120bb2185a267f6515038558b019e92b832bb0320e96d66268dcf9"
+          "url": "https://static.crates.io/crates/backon/1.6.0/download",
+          "sha256": "cffb0e931875b666fc4fcb20fee52e9bbd1ef836fd9e9e04ec21555f9f85f7ef"
         }
       },
       "targets": [
@@ -6407,29 +6407,24 @@
         "compile_data_glob": [
           "**"
         ],
+        "crate_features": {
+          "common": [
+            "std",
+            "std-blocking-sleep"
+          ],
+          "selects": {}
+        },
         "deps": {
           "common": [
             {
-              "id": "fastrand 1.9.0",
+              "id": "fastrand 2.3.0",
               "target": "fastrand"
-            },
-            {
-              "id": "futures-core 0.3.31",
-              "target": "futures_core"
-            },
-            {
-              "id": "pin-project 1.1.2",
-              "target": "pin_project"
-            },
-            {
-              "id": "tokio 1.50.0",
-              "target": "tokio"
             }
           ],
           "selects": {}
         },
-        "edition": "2021",
-        "version": "0.4.1"
+        "edition": "2024",
+        "version": "1.6.0"
       },
       "license": "Apache-2.0",
       "license_ids": [
@@ -21014,11 +21009,7 @@
               "target": "axum_server"
             },
             {
-              "id": "backoff 0.4.0",
-              "target": "backoff"
-            },
-            {
-              "id": "backon 0.4.1",
+              "id": "backon 1.6.0",
               "target": "backon"
             },
             {
@@ -26270,56 +26261,6 @@
       ],
       "license_file": "LICENSE"
     },
-    "fastrand 1.9.0": {
-      "name": "fastrand",
-      "version": "1.9.0",
-      "package_url": "https://github.com/smol-rs/fastrand",
-      "repository": {
-        "Http": {
-          "url": "https://static.crates.io/crates/fastrand/1.9.0/download",
-          "sha256": "e51093e27b0797c359783294ca4f0a911c270184cb10f85783b118614a1501be"
-        }
-      },
-      "targets": [
-        {
-          "Library": {
-            "crate_name": "fastrand",
-            "crate_root": "src/lib.rs",
-            "srcs": {
-              "allow_empty": true,
-              "include": [
-                "**/*.rs"
-              ]
-            }
-          }
-        }
-      ],
-      "library_target_name": "fastrand",
-      "common_attrs": {
-        "compile_data_glob": [
-          "**"
-        ],
-        "deps": {
-          "common": [],
-          "selects": {
-            "cfg(all(target_arch = \"wasm32\", not(target_os = \"wasi\")))": [
-              {
-                "id": "instant 0.1.12",
-                "target": "instant"
-              }
-            ]
-          }
-        },
-        "edition": "2018",
-        "version": "1.9.0"
-      },
-      "license": "Apache-2.0 OR MIT",
-      "license_ids": [
-        "Apache-2.0",
-        "MIT"
-      ],
-      "license_file": "LICENSE-APACHE"
-    },
     "fastrand 2.3.0": {
       "name": "fastrand",
       "version": "2.3.0",
@@ -98503,8 +98444,7 @@
     "axum 0.8.9",
     "axum-extra 0.10.1",
     "axum-server 0.7.3",
-    "backoff 0.4.0",
-    "backon 0.4.1",
+    "backon 1.6.0",
     "base32 0.4.0",
     "base64 0.13.1",
     "bech32 0.9.1",
diff --git a/Cargo.Bazel.toml.lock b/Cargo.Bazel.toml.lock
index 2c7f4addd97a..1d97decccf15 100644
--- a/Cargo.Bazel.toml.lock
+++ b/Cargo.Bazel.toml.lock
@@ -1138,14 +1138,11 @@ dependencies = [
 
 [[package]]
 name = "backon"
-version = "0.4.1"
+version = "1.6.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0c1a6197b2120bb2185a267f6515038558b019e92b832bb0320e96d66268dcf9"
+checksum = "cffb0e931875b666fc4fcb20fee52e9bbd1ef836fd9e9e04ec21555f9f85f7ef"
 dependencies = [
- "fastrand 1.9.0",
- "futures-core",
- "pin-project",
- "tokio",
+ "fastrand",
 ]
 
 [[package]]
@@ -3532,7 +3529,6 @@ dependencies = [
  "axum 0.8.9",
  "axum-extra 0.10.1",
  "axum-server 0.7.3",
- "backoff",
  "backon",
  "base32",
  "base64 0.13.1",
@@ -4519,15 +4515,6 @@ dependencies = [
  "regex-syntax 0.8.5",
 ]
 
-[[package]]
-name = "fastrand"
-version = "1.9.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e51093e27b0797c359783294ca4f0a911c270184cb10f85783b118614a1501be"
-dependencies = [
- "instant",
-]
-
 [[package]]
 name = "fastrand"
 version = "2.3.0"
@@ -4841,7 +4828,7 @@ version = "2.0.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "9c1155db57329dca6d018b61e76b1488ce9a2e5e44028cac420a5898f4fcef63"
 dependencies = [
- "fastrand 2.3.0",
+ "fastrand",
  "futures-core",
  "futures-io",
  "memchr",
@@ -9780,7 +9767,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "96c8c490f422ef9a4efd2cb5b42b76c8613d7e7dfc1caf667b8a3350a5acc066"
 dependencies = [
  "atomic-waker",
- "fastrand 2.3.0",
+ "fastrand",
  "futures-io",
 ]
 
@@ -13264,7 +13251,7 @@ version = "3.23.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2d31c77bdf42a745371d260a26ca7163f1e0924b64afa0b688e61b5a9fa02f16"
 dependencies = [
- "fastrand 2.3.0",
+ "fastrand",
  "getrandom 0.3.4",
  "once_cell",
  "rustix 1.1.4",
diff --git a/Cargo.lock b/Cargo.lock
index 62845f0fe77e..28653c8b98f4 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1089,6 +1089,15 @@ dependencies = [
  "rand 0.8.6",
 ]
 
+[[package]]
+name = "backon"
+version = "1.6.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "cffb0e931875b666fc4fcb20fee52e9bbd1ef836fd9e9e04ec21555f9f85f7ef"
+dependencies = [
+ "fastrand",
+]
+
 [[package]]
 name = "backtrace"
 version = "0.3.76"
@@ -1984,7 +1993,7 @@ dependencies = [
 name = "canister-test"
 version = "0.9.0"
 dependencies = [
- "backoff",
+ "backon",
  "candid",
  "cargo_metadata",
  "dfn_candid",
@@ -6331,7 +6340,7 @@ version = "0.9.0"
 dependencies = [
  "assert_matches",
  "axum",
- "backoff",
+ "backon",
  "bytes",
  "criterion",
  "futures",
@@ -6985,7 +6994,7 @@ dependencies = [
 name = "ic-canister-client"
 version = "0.9.0"
 dependencies = [
- "backoff",
+ "backon",
  "futures-util",
  "hex",
  "http-body-util",
@@ -7931,7 +7940,7 @@ name = "ic-consensus-manager"
 version = "0.9.0"
 dependencies = [
  "axum",
- "backoff",
+ "backon",
  "bytes",
  "futures",
  "ic-base-types",
@@ -19230,7 +19239,7 @@ dependencies = [
  "async-stream",
  "async-trait",
  "attestation",
- "backoff",
+ "backon",
  "candid",
  "clap",
  "config_tool",
@@ -19883,7 +19892,7 @@ dependencies = [
 name = "pocket-ic"
 version = "15.0.0"
 dependencies = [
- "backoff",
+ "backon",
  "base64 0.13.1",
  "bitcoin",
  "candid",
@@ -19951,7 +19960,7 @@ dependencies = [
  "axum",
  "axum-extra 0.10.3",
  "axum-server 0.7.3",
- "backoff",
+ "backon",
  "base64 0.13.1",
  "bitcoin-dogecoin",
  "bytes",
@@ -22317,7 +22326,7 @@ name = "sdk-system-tests"
 version = "0.9.0"
 dependencies = [
  "anyhow",
- "backoff",
+ "backon",
  "candid",
  "ic-registry-subnet-type",
  "ic-system-test-driver",
diff --git a/Cargo.toml b/Cargo.toml
index c7fd2f1ca9d4..664217ec0d4f 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -612,7 +612,7 @@ async-trait = "0.1.89"
 axum = { version = "0.8.4", features = ["ws"] }
 axum-extra = { version = "0.10.1", features = ["typed-header"] }
 axum-server = { version = "0.7.2", features = ["tls-rustls-no-provider"] }
-backoff = "0.4"
+backon = { version = "1.6.0", default-features = false, features = ["std"] }
 base64 = { version = "0.13.1" }
 bech32 = "^0.9.0"
 bincode = "1.3.3"
diff --git a/bazel/rust.MODULE.bazel b/bazel/rust.MODULE.bazel
index 4bb54f075189..0d45a240f5e4 100644
--- a/bazel/rust.MODULE.bazel
+++ b/bazel/rust.MODULE.bazel
@@ -143,12 +143,13 @@ crate.spec(
     version = "^0.7.3",
 )
 crate.spec(
-    package = "backoff",
-    version = "^0.4.0",
-)
-crate.spec(
+    default_features = False,
+    features = [
+        "std",
+        "std-blocking-sleep",
+    ],
     package = "backon",
-    version = "^0.4.1",
+    version = "^1.6.0",
 )
 crate.spec(
     package = "base32",
diff --git a/packages/pocket-ic/BUILD.bazel b/packages/pocket-ic/BUILD.bazel
index b1b8acd98c58..4874bbb0a8b9 100644
--- a/packages/pocket-ic/BUILD.bazel
+++ b/packages/pocket-ic/BUILD.bazel
@@ -12,7 +12,7 @@ rust_library(
     version = "15.0.0",
     deps = [
         # Keep sorted.
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:base64",
         "@crate_index//:candid",
         "@crate_index//:flate2",
diff --git a/packages/pocket-ic/Cargo.toml b/packages/pocket-ic/Cargo.toml
index ba14e015298e..ef455179503f 100644
--- a/packages/pocket-ic/Cargo.toml
+++ b/packages/pocket-ic/Cargo.toml
@@ -23,7 +23,7 @@ edition.workspace = true
 head_nns = []
 
 [dependencies]
-backoff = { workspace = true }
+backon = { workspace = true }
 base64 = { workspace = true }
 candid = { workspace = true }
 flate2 = { workspace = true }
diff --git a/packages/pocket-ic/src/nonblocking.rs b/packages/pocket-ic/src/nonblocking.rs
index 3baf36f9beb6..a6bc1960437f 100644
--- a/packages/pocket-ic/src/nonblocking.rs
+++ b/packages/pocket-ic/src/nonblocking.rs
@@ -16,8 +16,7 @@ use crate::{
     CreateCanisterParams, CreateCanisterPlacement, IngressStatusResult, PocketIcBuilder,
     PocketIcState, RejectResponse, StartServerParams, TickConfigs, Time, copy_dir, start_server,
 };
-use backoff::backoff::Backoff;
-use backoff::{ExponentialBackoff, ExponentialBackoffBuilder};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use candid::{
     Principal, decode_args, encode_args,
     utils::{ArgumentDecoder, ArgumentEncoder},
@@ -823,16 +822,19 @@ impl PocketIc {
         &self,
         message_id: RawMessageId,
     ) -> Result<Vec<u8>, RejectResponse> {
-        let mut retry_policy: ExponentialBackoff = ExponentialBackoffBuilder::new()
-            .with_initial_interval(Duration::from_millis(10))
-            .with_max_interval(Duration::from_secs(1))
-            .with_multiplier(2.0)
+        let mut retry_policy = ExponentialBuilder::new()
+            .with_min_delay(Duration::from_millis(10))
+            .with_max_delay(Duration::from_secs(1))
+            .with_factor(2.0)
+            .with_jitter()
+            .with_total_delay(Some(Duration::from_secs(15 * 60)))
+            .without_max_times()
             .build();
         loop {
             if let Some(ingress_status) = self.ingress_status(message_id.clone()).await {
                 break ingress_status;
             }
-            tokio::time::sleep(retry_policy.next_backoff().unwrap()).await;
+            tokio::time::sleep(retry_policy.next().unwrap()).await;
         }
     }
 
diff --git a/rs/canister_client/BUILD.bazel b/rs/canister_client/BUILD.bazel
index 0ad41e7d20ed..7474281fa596 100644
--- a/rs/canister_client/BUILD.bazel
+++ b/rs/canister_client/BUILD.bazel
@@ -30,7 +30,7 @@ rust_library(
         "//rs/protobuf",
         "//rs/types/management_canister_types",
         "//rs/types/types",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:futures-util",
         "@crate_index//:http-body-util",
         "@crate_index//:hyper",
@@ -65,7 +65,7 @@ rust_test(
         "//rs/types/management_canister_types",
         "//rs/types/types",
         "//rs/validator",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:futures-util",
         "@crate_index//:hex",
         "@crate_index//:http-body-util",
@@ -103,7 +103,7 @@ rust_test(
         "//rs/tree_deserializer",
         "//rs/types/management_canister_types",
         "//rs/types/types",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:futures-util",
         "@crate_index//:hex",
         "@crate_index//:http-body-util",
diff --git a/rs/canister_client/Cargo.toml b/rs/canister_client/Cargo.toml
index 1dfd761ad595..1a2593358c00 100644
--- a/rs/canister_client/Cargo.toml
+++ b/rs/canister_client/Cargo.toml
@@ -7,7 +7,7 @@ description.workspace = true
 documentation.workspace = true
 
 [dependencies]
-backoff = { workspace = true }
+backon = { workspace = true }
 futures-util = { workspace = true }
 hyper = { workspace = true }
 hyper-rustls = { workspace = true }
diff --git a/rs/canister_client/src/agent.rs b/rs/canister_client/src/agent.rs
index c3632eb94368..eb9a2893c94a 100644
--- a/rs/canister_client/src/agent.rs
+++ b/rs/canister_client/src/agent.rs
@@ -3,7 +3,7 @@ use crate::{
     cbor::{parse_query_response, prepare_query, prepare_read_state, prepare_update},
     http_client::{HttpClient, HttpClientConfig},
 };
-use backoff::backoff::Backoff;
+use backon::{BackoffBuilder, ExponentialBuilder};
 use ic_canister_client_sender::Sender;
 use ic_crypto_tree_hash::Path;
 use ic_management_canister_types_private::{IC_00, InstallCodeArgs, Method, Payload};
@@ -54,17 +54,14 @@ pub fn update_path(cid: CanisterId) -> String {
 const NODE_STATUS_PATH: &str = "api/v2/status";
 const CATCH_UP_PACKAGE_PATH: &str = "/_/catch_up_package";
 
-pub fn get_backoff_policy() -> backoff::ExponentialBackoff {
-    backoff::ExponentialBackoff {
-        initial_interval: MIN_POLL_INTERVAL,
-        current_interval: MIN_POLL_INTERVAL,
-        randomization_factor: 0.1,
-        multiplier: POLL_INTERVAL_MULTIPLIER,
-        start_time: std::time::Instant::now(),
-        max_interval: MAX_POLL_INTERVAL,
-        max_elapsed_time: None,
-        clock: backoff::SystemClock::default(),
-    }
+pub fn get_backoff_policy() -> backon::ExponentialBackoff {
+    ExponentialBuilder::new()
+        .with_min_delay(MIN_POLL_INTERVAL)
+        .with_max_delay(MAX_POLL_INTERVAL)
+        .with_factor(POLL_INTERVAL_MULTIPLIER as f32)
+        .with_jitter()
+        .without_max_times()
+        .build()
 }
 
 /// An agent to talk to the Internet Computer through the public endpoints.
@@ -281,7 +278,7 @@ impl Agent {
         // will take at least the time between consensus blocks.
         while next_poll_time < deadline {
             sleep_until(tokio::time::Instant::from_std(next_poll_time)).await;
-            next_poll_time = Instant::now() + backoff.next_backoff().expect("Backoff interval MUST be available. If you see this error the backoff is misconfigured.");
+            next_poll_time = Instant::now() + backoff.next().expect("Backoff interval MUST be available. If you see this error the backoff is misconfigured.");
             match self
                 .wait_ingress(request_id.clone(), deadline, effective_canister_id)
                 .await
diff --git a/rs/orchestrator/BUILD.bazel b/rs/orchestrator/BUILD.bazel
index b11c9dc37148..06df34682a00 100644
--- a/rs/orchestrator/BUILD.bazel
+++ b/rs/orchestrator/BUILD.bazel
@@ -52,7 +52,7 @@ rust_library(
         "//rs/types/management_canister_types",
         "//rs/types/types",
         "@crate_index//:anyhow",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:candid",
         "@crate_index//:clap",
         "@crate_index//:der",
diff --git a/rs/orchestrator/Cargo.toml b/rs/orchestrator/Cargo.toml
index 0a9d73304e21..4fa2b992e93d 100644
--- a/rs/orchestrator/Cargo.toml
+++ b/rs/orchestrator/Cargo.toml
@@ -10,7 +10,7 @@ documentation.workspace = true
 anyhow = { workspace = true }
 async-trait = { workspace = true }
 attestation = { path = "../ic_os/sev/attestation" }
-backoff = { workspace = true }
+backon = { workspace = true }
 candid = { workspace = true }
 clap = { workspace = true }
 config_tool = { path = "../ic_os/config/tool" }
diff --git a/rs/orchestrator/src/hostos_upgrade.rs b/rs/orchestrator/src/hostos_upgrade.rs
index c0707cefbb6e..6a0b88d327a5 100644
--- a/rs/orchestrator/src/hostos_upgrade.rs
+++ b/rs/orchestrator/src/hostos_upgrade.rs
@@ -2,7 +2,7 @@ use crate::{
     error::{OrchestratorError, OrchestratorResult},
     registry_helper::RegistryHelper,
 };
-use backoff::{ExponentialBackoff, backoff::Backoff};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use ic_logger::{ReplicaLogger, info, warn};
 use ic_protobuf::registry::hostos_version::v1::HostosVersionRecord;
 use ic_sys::utility_command::UtilityCommand;
@@ -40,22 +40,24 @@ impl HostosUpgrader {
     pub async fn upgrade_loop(
         &mut self,
         cancellation_token: CancellationToken,
-        mut backoff: ExponentialBackoff,
+        backoff_builder: ExponentialBuilder,
+        max_interval: Duration,
         liveness_timeout: Duration,
     ) {
+        let mut backoff = backoff_builder.build();
         loop {
             match tokio::time::timeout(liveness_timeout, self.check_for_upgrade()).await {
-                Ok(Ok(())) => backoff.reset(),
+                Ok(Ok(())) => backoff = backoff_builder.build(),
                 e => warn!(&self.logger, "Check for HostOS upgrade failed: {:?}", e),
             }
 
-            // NOTE: We currently do not and should not set `max_elapsed_time`,
-            // so that we never run out of backoffs. If `max_elapsed_time` _is_
-            // ever set, repeat the `max_interval` instead. This is technically
-            // not the same behavior as if `max_elapsed_time` was unset, because
-            // we will not be including jitter, but it should be close enough,
-            // and safe.
-            let safe_backoff = backoff.next_backoff().unwrap_or(backoff.max_interval);
+            // NOTE: We currently do not and should not set a total delay on
+            // `backoff_builder`, so that we never run out of backoffs. If a
+            // total delay _is_ ever set, repeat `max_interval` instead. This
+            // is technically not the same behavior as if no total delay was
+            // set, because we will not be including jitter, but it should be
+            // close enough, and safe.
+            let safe_backoff = backoff.next().unwrap_or(max_interval);
             tokio::select! {
                 _ = tokio::time::sleep(safe_backoff) => {}
                 _ = cancellation_token.cancelled() => break
diff --git a/rs/orchestrator/src/orchestrator.rs b/rs/orchestrator/src/orchestrator.rs
index 54cba30a9217..1e3f54b6f46d 100644
--- a/rs/orchestrator/src/orchestrator.rs
+++ b/rs/orchestrator/src/orchestrator.rs
@@ -17,7 +17,7 @@ use crate::{
     upgrade::{OrchestratorControlFlow, Upgrade},
 };
 use anyhow::Context;
-use backoff::ExponentialBackoffBuilder;
+use backon::ExponentialBuilder;
 use config_tool::guestos::network::{get_best_interface_name, get_interface_addresses};
 use guest_upgrade_server::orchestrator::new_disk_encryption_key_exchange_server_agent_for_orchestrator;
 use ic_config::{
@@ -534,17 +534,22 @@ impl Orchestrator {
             // e.g. (roughly) 1, 1.75, 3, 5.25, 9.5, 16.5, 28.75, 50.25, 88, 120, 120
             //
             // Additionally, there's a random +=50% range added to each delay, for jitter.
-            let backoff = ExponentialBackoffBuilder::new()
-                .with_initial_interval(Duration::from_secs(60))
-                .with_randomization_factor(0.5)
-                .with_multiplier(1.75)
-                .with_max_interval(Duration::from_secs(2 * 60 * 60))
-                .with_max_elapsed_time(None)
-                .build();
+            let max_interval = Duration::from_secs(2 * 60 * 60);
+            let backoff_builder = ExponentialBuilder::new()
+                .with_min_delay(Duration::from_secs(60))
+                .with_jitter()
+                .with_factor(1.75)
+                .with_max_delay(max_interval)
+                .without_max_times();
             let liveness_timeout = Duration::from_secs(15 * 60);
 
             upgrade
-                .upgrade_loop(cancellation_token, backoff, liveness_timeout)
+                .upgrade_loop(
+                    cancellation_token,
+                    backoff_builder,
+                    max_interval,
+                    liveness_timeout,
+                )
                 .await;
         }
 
diff --git a/rs/p2p/artifact_downloader/BUILD.bazel b/rs/p2p/artifact_downloader/BUILD.bazel
index bf9235084209..c812a70f45fb 100644
--- a/rs/p2p/artifact_downloader/BUILD.bazel
+++ b/rs/p2p/artifact_downloader/BUILD.bazel
@@ -20,7 +20,7 @@ rust_library(
         "//rs/types/base_types",
         "//rs/types/types",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:prometheus",
         "@crate_index//:rand",
@@ -52,7 +52,7 @@ rust_test(
         "//rs/types/types_test_utils",
         "@crate_index//:assert_matches",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:futures",
         "@crate_index//:http-body-util",
@@ -87,7 +87,7 @@ rust_test_suite(
         "//rs/types/types_test_utils",
         "@crate_index//:assert_matches",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:futures",
         "@crate_index//:http-body-util",
diff --git a/rs/p2p/artifact_downloader/Cargo.toml b/rs/p2p/artifact_downloader/Cargo.toml
index 9164573d532e..423516c93acf 100644
--- a/rs/p2p/artifact_downloader/Cargo.toml
+++ b/rs/p2p/artifact_downloader/Cargo.toml
@@ -10,7 +10,7 @@ documentation.workspace = true
 
 [dependencies]
 axum = { workspace = true }
-backoff = { workspace = true }
+backon = { workspace = true }
 bytes = { workspace = true }
 ic-base-types = { path = "../../types/base_types" }
 ic-interfaces = { path = "../../interfaces" }
diff --git a/rs/p2p/artifact_downloader/src/fetch_artifact/download.rs b/rs/p2p/artifact_downloader/src/fetch_artifact/download.rs
index c9736256611d..21c29a6c1917 100644
--- a/rs/p2p/artifact_downloader/src/fetch_artifact/download.rs
+++ b/rs/p2p/artifact_downloader/src/fetch_artifact/download.rs
@@ -9,7 +9,7 @@ use axum::{
     http::{Request, StatusCode},
     routing::any,
 };
-use backoff::{ExponentialBackoffBuilder, backoff::Backoff};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use bytes::Bytes;
 use ic_base_types::NodeId;
 use ic_interfaces::p2p::consensus::{
@@ -213,10 +213,12 @@ impl<Artifact: PbArtifact> FetchArtifact<Artifact> {
             return AssembleResult::Unwanted;
         }
 
-        let mut artifact_download_backoff = ExponentialBackoffBuilder::new()
-            .with_initial_interval(MIN_ARTIFACT_RPC_TIMEOUT)
-            .with_max_interval(MAX_ARTIFACT_RPC_TIMEOUT)
-            .with_max_elapsed_time(None)
+        let mut artifact_download_backoff = ExponentialBuilder::new()
+            .with_min_delay(MIN_ARTIFACT_RPC_TIMEOUT)
+            .with_max_delay(MAX_ARTIFACT_RPC_TIMEOUT)
+            .with_factor(1.5)
+            .with_jitter()
+            .without_max_times()
             .build();
 
         match artifact {
@@ -237,7 +239,7 @@ impl<Artifact: PbArtifact> FetchArtifact<Artifact> {
                 let result = loop {
                     let next_request_at = Instant::now()
                         + artifact_download_backoff
-                            .next_backoff()
+                            .next()
                             .unwrap_or(MAX_ARTIFACT_RPC_TIMEOUT);
                     if let Some(peer) = peer_rx.peers().into_iter().choose(&mut rng) {
                         let bytes = Bytes::from(Artifact::PbId::proxy_encode(id.clone()));
diff --git a/rs/p2p/artifact_downloader/src/fetch_stripped_artifact/download.rs b/rs/p2p/artifact_downloader/src/fetch_stripped_artifact/download.rs
index 49b4483310bc..5c57722d2ee4 100644
--- a/rs/p2p/artifact_downloader/src/fetch_stripped_artifact/download.rs
+++ b/rs/p2p/artifact_downloader/src/fetch_stripped_artifact/download.rs
@@ -9,7 +9,7 @@ use axum::{
     http::{Request, StatusCode},
     routing::any,
 };
-use backoff::{ExponentialBackoffBuilder, backoff::Backoff};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use bytes::Bytes;
 use ic_interfaces::p2p::consensus::{Peers, ValidatedPoolReader};
 use ic_logger::{ReplicaLogger, warn};
@@ -298,10 +298,12 @@ pub(crate) async fn download_stripped_message<P: Peers>(
 ) -> (StrippedMessage, NodeId) {
     let message_type = StrippedMessageType::from(&stripped_message_id);
     metrics.report_started_stripped_message_download(message_type);
-    let mut artifact_download_timeout = ExponentialBackoffBuilder::new()
-        .with_initial_interval(MIN_ARTIFACT_RPC_TIMEOUT)
-        .with_max_interval(MAX_ARTIFACT_RPC_TIMEOUT)
-        .with_max_elapsed_time(None)
+    let mut artifact_download_timeout = ExponentialBuilder::new()
+        .with_min_delay(MIN_ARTIFACT_RPC_TIMEOUT)
+        .with_max_delay(MAX_ARTIFACT_RPC_TIMEOUT)
+        .with_factor(1.5)
+        .with_jitter()
+        .without_max_times()
         .build();
 
     let mut rng = SmallRng::from_entropy();
@@ -332,7 +334,7 @@ pub(crate) async fn download_stripped_message<P: Peers>(
     loop {
         let next_request_at = Instant::now()
             + artifact_download_timeout
-                .next_backoff()
+                .next()
                 .unwrap_or(MAX_ARTIFACT_RPC_TIMEOUT);
         if let Some(peer) = { peer_rx.peers().into_iter().choose(&mut rng) } {
             match timeout_at(next_request_at, transport.rpc(&peer, request.clone())).await {
diff --git a/rs/p2p/consensus_manager/BUILD.bazel b/rs/p2p/consensus_manager/BUILD.bazel
index 8a3207ae8d89..f8dd1483a162 100644
--- a/rs/p2p/consensus_manager/BUILD.bazel
+++ b/rs/p2p/consensus_manager/BUILD.bazel
@@ -22,7 +22,7 @@ rust_library(
         "//rs/types/base_types",
         "//rs/types/types",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:prometheus",
         "@crate_index//:prost",
@@ -54,7 +54,7 @@ rust_test(
         "//rs/types/types",
         "//rs/types/types_test_utils",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:futures",
         "@crate_index//:mockall",
@@ -89,7 +89,7 @@ rust_test_suite(
         "//rs/types/types",
         "//rs/types/types_test_utils",
         "@crate_index//:axum",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:bytes",
         "@crate_index//:futures",
         "@crate_index//:mockall",
diff --git a/rs/p2p/consensus_manager/Cargo.toml b/rs/p2p/consensus_manager/Cargo.toml
index d3ed45295bcf..20b2b4c70c20 100644
--- a/rs/p2p/consensus_manager/Cargo.toml
+++ b/rs/p2p/consensus_manager/Cargo.toml
@@ -10,7 +10,7 @@ documentation.workspace = true
 
 [dependencies]
 axum = { workspace = true }
-backoff = { workspace = true }
+backon = { workspace = true }
 bytes = { workspace = true }
 ic-base-types = { path = "../../types/base_types" }
 ic-interfaces = { path = "../../interfaces" }
diff --git a/rs/p2p/consensus_manager/src/sender.rs b/rs/p2p/consensus_manager/src/sender.rs
index 7bf857c7ad1d..79275522b9af 100644
--- a/rs/p2p/consensus_manager/src/sender.rs
+++ b/rs/p2p/consensus_manager/src/sender.rs
@@ -7,7 +7,7 @@ use std::{
 };
 
 use axum::http::Request;
-use backoff::{ExponentialBackoffBuilder, backoff::Backoff};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use bytes::Bytes;
 use ic_base_types::NodeId;
 use ic_interfaces::p2p::consensus::{ArtifactAssembler, ArtifactTransmit, ArtifactWithOpt};
@@ -311,11 +311,12 @@ async fn send_transmit_to_peer(
     peer: NodeId,
     route: String,
 ) {
-    let mut backoff = ExponentialBackoffBuilder::new()
-        .with_initial_interval(MIN_BACKOFF_INTERVAL)
-        .with_max_interval(MAX_BACKOFF_INTERVAL)
-        .with_multiplier(BACKOFF_MULTIPLIER)
-        .with_max_elapsed_time(None)
+    let mut backoff = ExponentialBuilder::new()
+        .with_min_delay(MIN_BACKOFF_INTERVAL)
+        .with_max_delay(MAX_BACKOFF_INTERVAL)
+        .with_factor(BACKOFF_MULTIPLIER as f32)
+        .with_jitter()
+        .without_max_times()
         .build();
 
     loop {
@@ -329,7 +330,7 @@ async fn send_transmit_to_peer(
             return;
         }
 
-        let backoff_duration = backoff.next_backoff().unwrap_or(MAX_BACKOFF_INTERVAL);
+        let backoff_duration = backoff.next().unwrap_or(MAX_BACKOFF_INTERVAL);
         time::sleep(backoff_duration).await;
     }
 }
diff --git a/rs/pocket_ic_server/BUILD.bazel b/rs/pocket_ic_server/BUILD.bazel
index e55c82fab9f2..21c883c139d0 100644
--- a/rs/pocket_ic_server/BUILD.bazel
+++ b/rs/pocket_ic_server/BUILD.bazel
@@ -62,7 +62,7 @@ LIB_DEPENDENCIES = [
     "@crate_index//:axum",
     "@crate_index//:axum-extra",
     "@crate_index//:axum-server",
-    "@crate_index//:backoff",
+    "@crate_index//:backon",
     "@crate_index//:base64",
     "@crate_index//:bitcoin_dogecoin",
     "@crate_index//:bytes",
diff --git a/rs/pocket_ic_server/Cargo.toml b/rs/pocket_ic_server/Cargo.toml
index 3ffad6ef62a1..3220fc30004a 100644
--- a/rs/pocket_ic_server/Cargo.toml
+++ b/rs/pocket_ic_server/Cargo.toml
@@ -10,7 +10,7 @@ async-trait = { workspace = true }
 axum = { workspace = true }
 axum-extra = { workspace = true }
 axum-server = { workspace = true }
-backoff = { workspace = true }
+backon = { workspace = true }
 base64 = { workspace = true }
 bitcoin = { workspace = true }
 bytes = { workspace = true }
diff --git a/rs/pocket_ic_server/src/state_api/routes.rs b/rs/pocket_ic_server/src/state_api/routes.rs
index 16c02b59dcde..38d28386e9ef 100644
--- a/rs/pocket_ic_server/src/state_api/routes.rs
+++ b/rs/pocket_ic_server/src/state_api/routes.rs
@@ -35,8 +35,7 @@ use axum::{
 };
 use axum_extra::headers;
 use axum_extra::headers::HeaderMapExt;
-use backoff::backoff::Backoff;
-use backoff::{ExponentialBackoff, ExponentialBackoffBuilder};
+use backon::{BackoffBuilder, ExponentialBuilder};
 use ic_boundary::{ErrorClientFacing, MAX_REQUEST_BODY_SIZE};
 use ic_http_endpoints_public::{cors_layer, make_plaintext_response, query, read_state};
 use ic_registry_routing_table::RoutingTable;
@@ -321,11 +320,13 @@ async fn run_operation<T: Serialize + FromOpOut>(
 ) -> (StatusCode, ApiResponse<T>) {
     let retry_if_busy = op.retry_if_busy();
     let op = Arc::new(op);
-    let mut retry_policy: ExponentialBackoff = ExponentialBackoffBuilder::new()
-        .with_initial_interval(Duration::from_millis(10))
-        .with_max_interval(Duration::from_secs(1))
-        .with_multiplier(2.0)
-        .with_max_elapsed_time(Some(Duration::from_secs(RETRY_TIMEOUT_S)))
+    let mut retry_policy = ExponentialBuilder::new()
+        .with_min_delay(Duration::from_millis(10))
+        .with_max_delay(Duration::from_secs(1))
+        .with_factor(2.0)
+        .with_jitter()
+        .with_total_delay(Some(Duration::from_secs(RETRY_TIMEOUT_S)))
+        .without_max_times()
         .build();
     loop {
         match api_state
@@ -359,7 +360,7 @@ async fn run_operation<T: Serialize + FromOpOut>(
                                 "run_operation::retry_busy instance_id={} state_label={:?} op_id={}",
                                 instance_id, state_label, op_id.0
                             );
-                            match retry_policy.next_backoff() {
+                            match retry_policy.next() {
                                 Some(duration) => tokio::time::sleep(duration).await,
                                 None => {
                                     break (
diff --git a/rs/rust_canisters/canister_test/BUILD.bazel b/rs/rust_canisters/canister_test/BUILD.bazel
index ca259491cf2b..002547883c8c 100644
--- a/rs/rust_canisters/canister_test/BUILD.bazel
+++ b/rs/rust_canisters/canister_test/BUILD.bazel
@@ -21,7 +21,7 @@ rust_library(
         "//rs/types/cycles",
         "//rs/types/management_canister_types",
         "//rs/types/types",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:candid",
         "@crate_index//:cargo_metadata",
         "@crate_index//:escargot",
diff --git a/rs/rust_canisters/canister_test/Cargo.toml b/rs/rust_canisters/canister_test/Cargo.toml
index 19c2bc8d9ac5..e82ccecdb3eb 100644
--- a/rs/rust_canisters/canister_test/Cargo.toml
+++ b/rs/rust_canisters/canister_test/Cargo.toml
@@ -7,7 +7,7 @@ description.workspace = true
 documentation.workspace = true
 
 [dependencies]
-backoff = { workspace = true }
+backon = { workspace = true }
 candid = { workspace = true }
 cargo_metadata = { workspace = true }
 dfn_candid = { path = "../dfn_candid" }
diff --git a/rs/rust_canisters/canister_test/src/canister.rs b/rs/rust_canisters/canister_test/src/canister.rs
index f233e66b7e7b..e5c6fcb0354f 100644
--- a/rs/rust_canisters/canister_test/src/canister.rs
+++ b/rs/rust_canisters/canister_test/src/canister.rs
@@ -1,4 +1,4 @@
-use backoff::backoff::Backoff;
+use backon::{BackoffBuilder, ExponentialBuilder};
 use candid::Principal;
 use core::future::Future;
 use dfn_candid::{candid, candid_multi_arity, candid_one};
@@ -42,17 +42,15 @@ const MAX_BACKOFF_INTERVAL: Duration = Duration::from_secs(10);
 const BACKOFF_INTERVAL_MULTIPLIER: f64 = 1.1;
 const MAX_ELAPSED_TIME: Duration = Duration::from_secs(60 * 5); // 5 minutes
 
-pub fn get_backoff_policy() -> backoff::ExponentialBackoff {
-    backoff::ExponentialBackoff {
-        initial_interval: MIN_BACKOFF_INTERVAL,
-        current_interval: MIN_BACKOFF_INTERVAL,
-        randomization_factor: 0.1,
-        multiplier: BACKOFF_INTERVAL_MULTIPLIER,
-        start_time: std::time::Instant::now(),
-        max_interval: MAX_BACKOFF_INTERVAL,
-        max_elapsed_time: Some(MAX_ELAPSED_TIME),
-        clock: backoff::SystemClock::default(),
-    }
+pub fn get_backoff_policy() -> backon::ExponentialBackoff {
+    ExponentialBuilder::new()
+        .with_min_delay(MIN_BACKOFF_INTERVAL)
+        .with_max_delay(MAX_BACKOFF_INTERVAL)
+        .with_factor(BACKOFF_INTERVAL_MULTIPLIER as f32)
+        .with_jitter()
+        .with_total_delay(Some(MAX_ELAPSED_TIME))
+        .without_max_times()
+        .build()
 }
 
 #[derive(Clone)]
@@ -229,7 +227,7 @@ impl Wasm {
                     eprintln!(
                         "Installation of wasm into canister with ID: {canister_id} failed with: {e}"
                     );
-                    match backoff.next_backoff() {
+                    match backoff.next() {
                         Some(interval) => {
                             tokio::time::sleep(interval).await;
                         }
@@ -258,7 +256,7 @@ where
     loop {
         match f().await {
             Ok(v) => return Ok(v),
-            Err(e) => match backoff.next_backoff() {
+            Err(e) => match backoff.next() {
                 Some(interval) => {
                     eprintln!("Retrying due to: {}", e);
                     tokio::time::sleep(interval).await;
diff --git a/rs/tests/sdk/BUILD.bazel b/rs/tests/sdk/BUILD.bazel
index 86e4fe1114c8..2c9620ccce0f 100644
--- a/rs/tests/sdk/BUILD.bazel
+++ b/rs/tests/sdk/BUILD.bazel
@@ -23,7 +23,7 @@ rust_library(
         # Keep sorted.
         "//rs/tests/driver:ic-system-test-driver",
         "//rs/types/types",
-        "@crate_index//:backoff",
+        "@crate_index//:backon",
         "@crate_index//:candid",
         "@crate_index//:reqwest",
         "@crate_index//:serde_json",
diff --git a/rs/tests/sdk/Cargo.toml b/rs/tests/sdk/Cargo.toml
index 925bfff5af72..401e0b5d3486 100644
--- a/rs/tests/sdk/Cargo.toml
+++ b/rs/tests/sdk/Cargo.toml
@@ -8,7 +8,7 @@ documentation.workspace = true
 
 [dependencies]
 anyhow = { workspace = true }
-backoff = { workspace = true }
+backon = { workspace = true, features = ["std-blocking-sleep"] }
 candid = { workspace = true }
 ic-registry-subnet-type = { path = "../../registry/subnet_type" }
 ic-system-test-driver = { path = "../driver" }
diff --git a/rs/tests/sdk/src/asset.rs b/rs/tests/sdk/src/asset.rs
index 709437cabe33..40fca81c825e 100644
--- a/rs/tests/sdk/src/asset.rs
+++ b/rs/tests/sdk/src/asset.rs
@@ -1,4 +1,4 @@
-use backoff::{ExponentialBackoff, retry_notify};
+use backon::{BlockingRetryable, ExponentialBuilder};
 use candid::Principal;
 use ic_system_test_driver::driver::{ic_gateway_vm::HasIcGatewayVm, test_env::TestEnv};
 use slog::{error, info};
@@ -29,12 +29,15 @@ pub fn get_asset_as_string(
     let resolve_override = ic_gateway.resolve_override_for_url(&parsed_asset_url);
     let accept_invalid_certs = ic_gateway.uses_self_signed_cert();
 
-    let backoff = ExponentialBackoff {
-        max_elapsed_time: Some(Duration::from_secs(120)),
-        ..Default::default()
-    };
+    let backoff = ExponentialBuilder::new()
+        .with_min_delay(Duration::from_millis(500))
+        .with_max_delay(Duration::from_secs(60))
+        .with_factor(1.5)
+        .with_jitter()
+        .with_total_delay(Some(Duration::from_secs(120)))
+        .without_max_times();
 
-    let notify = |err, dur| {
+    let notify = |err: &reqwest::Error, dur: Duration| {
         error!(log, "error: {err}");
         error!(log, "retry in {dur:?}");
     };
@@ -52,7 +55,7 @@ pub fn get_asset_as_string(
         Ok(body)
     };
 
-    let body = retry_notify(backoff, operation, notify).unwrap();
+    let body = operation.retry(backoff).notify(notify).call().unwrap();
 
     info!(log, "response body: {body}");
     body