Papertrade traders lose $18.6 million while stakers collect $12.57 million in rewards
- —Net realized trader losses reached about $18.6 million in the first 24 hours
- —PAPER stakers collected $12.57 million in rewards, or 69% of net losses
- —First-day notional volume topped $300 billion, with $13.89 billion in liquidations
- —Every $1 lost mints 100 new PAPER; 94–95% of the 3.17 billion tokens were staked
Why it matters: Papertrade's design routes trader losses directly to stakers while minting new PAPER, raising dilution and sustainability concerns.
Source: Crypto Briefing