>shipped a roulette front end on Papertrade builder codes

>farmed 102k PAPER delta-neutral: lose here, hedge BTC perps, stake the mint

>argues the whole supply is float that can sell on day one

fact check · PAPER is not transferable and 99.2% is staked, so nobody can sell supply on day one.

>no premine, no VC: PAPER only mints when traders lose, and it still can't be transferred

>backtested hedged loss-farming: negative EV at 11.7 PAPER per $1 lost

>early liquidations and a haircut on wins make it a farming venue, not a trading venue

>99.2% of PAPER is staked; stakers took $54M while traders are down $63.1M

>unhedged $1 loss now buys about $0.35 of PAPER at pre-market prices

>mint cost ~$0.085 vs $0.018-0.028 perp, and the hedge can get liquidated overnight

>mint 11.5 PAPER per $1, hedged cost ~$0.013 against a $0.03 pre-perp

>biggest PAPER perp position is a $300k short with a $0.1247 liquidation price

>no premine, no team bag: the only way to get PAPER is to lose money on the exchange

>posts a launch cheat sheet, leverage sim and treasury tracker for PAPER farming

>delta-neutral long/short around 0.7-1.5% moves, ~0.15-0.6c per PAPER early

>queues and whale priority made launch K-shaped for small traders, LP swung hard

>mint rate fell from ~100 to ~32 PAPER per $1, so brute-force loss farming costs ~3.1c

>a $3.2k liquidation minted 750k PAPER, but queues ate most small orders at launch

>shares Blockworks research on the PAPER farming strategies that actually pay

>ponzi case: emissions need new losers, and early farmers are exit liquidity on unlock

>a whale used 1000x to push HL ETH and pulled ~$1.28M out of the pool

>reports ~87-100M PAPER staked (top 10), cost basis and PSTR buybacks

>models PAPER value from daily volume, fees, dilution and a shutdown case

>open-sourced df-papertrade-core on crates.io, powering metalliq and a TUI

>paperstrategy 24h: +3.64M PAPER minted, 163.1M PAPER staked, 10.9M PSTR burned

>mint rate decay day 1-8: 100 down to 12 PAPER per $1 lost; 8.49B minted

>PAPER at $0.030 on the Paragon perp, roughly 3x what minting it cost

>Papertrade closed Sunday at $2.1M in staking revenue

>Paragon paid 570.98 HYPE (~$44.6k) for the PAPER HIP-3 ticker

>the PAPER pair did $9.19M volume and $4.9M OI in under 6 hours on Paragon

fact check · The PAPER perp on Paragon opened 18 Oct 2026, not 4 April 2026.

>$PAPER did $12.9M volume in 11 hours, over $6k of fees to Paragon

>Papertrade traders' total PnL is -$63.2M, another $2M gone in 24h

>Paragon paid $45k for a PAPER market that opened halted on a $0.01 placeholder oracle

>Paragon lists PAPER as a pre-launch perp on Hyperliquid, 3x, converting later

>pre-market prices PAPER at $0.018-0.022 while minting it costs ~$0.086

>PAPER trades at $0.0249 on Hyperliquid, FDV ~$212M, and he is long

>closed 90% of his PAPER long; staking plus the trade covered his costs

>Metalliq ships a one-click hedge that offsets a Papertrade loss with a PAPER trade

>FlowScan now tracks PAPER perps on Paragon: longs, shorts, liq levels, OI