DeFi· ★★· neutral·

TechnoRevenant-linked wallet loses $1.7M on Papertrade, becomes second-largest PAPER holder

  • —Wallet received 136M PAPER after a $1.7M loss on Papertrade futures
  • —Net loss after $1.051M in USDC staking rewards was roughly $650,000
  • —Average PAPER entry price of about $0.0125 is the highest among the top five holders
  • —Wallet pledged 744,000 HYPE on Hypercore to borrow 3M USDC against $61.3M collateral
Why it matters: Papertrade's model of converting trading losses into PAPER tokens raises questions about its sustainability and how top holders' positions should be valued.
#HYPE#USDC
Source: TokenPost
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