blurr explains how papertrade uses $Paper to bootstrap liquidity with trader losses “On a perp, whenever you take a long, someone on the other side is taking a short. That’s just how they operate. In a casino, when you’re betting, you’re betting against the house, which is owned by whoever owns the casino. That means you need somebody else on the other side to take that risk on. “If you go to a casino, oftentimes they’ll have a max bet that you can’t break. The casino has to run Kelly on its bankroll, and that is a problem because the cold start for this kind of thing is much higher than it otherwise needs to be." "But with tokens, you can effectively sell the upside in the bankroll by getting people to gamble into it” “If people assume or think that I will be profitable in the long run, they’re encouraged to sort of lose money into it to buy the equity in the system.”