Lookonchain: 21 of Papertrade's 25 biggest losers still underwater after USDC rewards
- —21 of the 25 biggest losers on Papertrade stayed negative after USDC rewards
- —Only four of the 25 ended up profitable
- —The group traded $111.5 billion and received 2.06 billion PAPER, 23.4% of supply
- —Their USDC payouts totaled $11.61 million, 20.6% of all rewards
Why it matters: The data suggests Papertrade's generous rewards fail to offset losses for its largest traders, raising questions about the model's sustainability.
Source: PANews