PaperTrade: Is Farming $PAPER Worth It at $0.025 Pre-listing Price? $PAPER is reportedly trading at a ~$0.025 pre-listing price. At this valuation, farming through trading losses looks expensive. Using the reported emission rate of 16.6 $PAPER per $1 lost: • Cost to farm 1 $PAPER: ~$0.0602 • Quoted price: $0.025 • Implied farming cost: 2.4x the quoted price To farm 10,000 $PAPER: • Trading losses: ~$602 • Quoted token value: $250 • Net deficit: ~$352 And emissions may have fallen further, making the economics worse. What could make it worthwhile? • A hedged strategy that reduces net losses while earning emissions • USDC staking income that offsets some acquisition costs • A higher eventual market price after transfers and listing become available But winning positions face profit haircuts and settlement fees. Hedging isn't free, and staking income depends on protocol activity and payout conditions. At $0.025, I wouldn't deliberately lose money just to farm $PAPER at the reported emission rate. The better approach is to calculate your actual net cost after hedging and staking income, then compare it with the realizable token price. Farming is only attractive if your effective acquisition cost falls below the price you can actually sell at. Don't mistake a quoted price for guaranteed profit.

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Papertrade’s Game Is Expanding Beyond $PAPER The hype around @papertrade_xyz is creating a new game on HyperEVM, and $PSTR (@paperstrategy_) is one of the projects to watch Here’s the simple idea: • Papertrade: Traders can earn $PAPER by realizing trading losses. Staking $PAPER generates USDC yield from protocol revenue • PaperStrategy: Instead of personally losing money to farm $PAPER, users can buy $PSTR, an independent token built around this mechanism • The flywheel: $PSTR trading taxes fund a treasury, which deposits USDC into Papertrade and accumulates $PAPER. The strategy stakes that $PAPER, then uses around 90% of its staking yield for $PSTR buybacks and burns More trading activity could fuel more capital, more $PAPER accumulation, and more buybacks Why watch this meta? Papertrade creates the underlying yield opportunity, while projects like $PSTR turn it into new token experiments. If Papertrade continues growing, expect more strategies and tokens competing to capture value from its ecosystem The key risks are execution, dilution, smart contracts, and dependence on Papertrade’s revenue. $PSTR is independent of Papertrade and is not an official affiliated token

Papertrade (@papertrade_xyz)'s revenue has far surpassed Hyperliquid's, and it now ranks third with $6.01M in 24H revenue. Interestingly, #papertrade#'s daily trading volume reached a staggering $910B, with $28.4B in liquidation volume.

Papertrade House lost $1M on $BTC move And keep in mind, that's just the weekend when volatility isn't even that high What will happen when the real volatility kicks in on Monday? Will @papertrade_xyz hold its positions? Will it be able to generate $1T in volume over 3 days? I'll be watching closely!

Papertrade flywheel is crazy Total trader PnL: -$27M Total staking rewards: $20M This is less than a single day of protocol operation, but will Papertrade be able to sustain these metrics in the long run? Papertrade reminds me of @prjx_hl its launch was just as hyped and shrouded in mystery Now it’s a simple product with $30M in TVL and $30K in daily fees I’m not saying that’s a small amount; it’s more that maintaining these numbers along with the token price will be extremely tough