Papertrade shows $10M in staker rewards after launch
Summary
Papertrade has reported $10.3 million in rewards for stakers just hours after its launch on October 10, 2026. The platform, which facilitates on-chain perps trading, operates on a model where traders' realized losses contribute to a liquidity pool that benefits stakers through minted PAPER tokens. This innovative protocol emphasizes high-leverage synthetic trading without traditional fees, allowing excess gains above $5 million to be redistributed as rewards to $PAPER stakers.
Tokens
$PAPER
Analysis
PAPER: Papertrade is a fully on-chain perpetual futures exchange built on HyperEVM that uses Hyperliquid prices as a reference for synthetic swaps against its own liquidity pool. It features a fair-launch model where the native PAPER token is minted exclusively from realized trader losses and functions as the fee-claim token for stakers. In the context of this news, PAPER stakers receive USDC rewards from the protocol's revenue share and any excess liquidity pool gains shortly after the platform's launch. Model: Papertrade emphasizes high-leverage synthetic trading with no spreads, funding rates, or conventional fees, using an asymmetric impact on gains for revenue. Launch: Papertrade went live with on-chain perps trading on October 10, 2026, following a pre-deposit phase. Mechanics: The protocol's house liquidity pool grows from trader losses, which also mint PAPER tokens for stakers while excess gains above a threshold flow to them as rewards.
Categories
cryptodefihyperliquid
Related sources
- https://thedefiant.io/news/defi/papertrade-sets-1000x-perps-launch-with-85-million-deposited
- https://docs.paperstrategy.xyz/the-loop/staking
- https://exchange.papertrade.xyz/staking
- https://iq.wiki/wiki/papertrade
- https://www.odaily.news/en/newsflash/523748
- https://www.bitrue.com/blog/papertrade-launch-guide
- https://cryptobriefing.com/papertrade-3b-open-interest-launch/
- https://docs.papertrade.xyz/
- https://x.com/DefiantNews/status/2108963016985510291