Papertrade and PAPER, explained
Short guides to how PAPER is minted, what it costs, how staking pays and what the pool can afford. Every figure in them is read live from the public Papertrade data.
What is PAPER, and what does it cost?
PAPER is the token of Papertrade. It cannot be bought: it is minted to traders who lose. So the question is never what PAPER trades at, but what a wallet gave up to get it.
Read the guideHow PAPER staking pays
Staked PAPER earns USDC, with no lockup. The money is real, but it does not arrive evenly: almost all of it so far was paid in the first hours after launch.
Read the guideWhat a hedged PAPER farm costs
A long and a short of the same size cancel the price risk, and still lose money every time. That loss is the cost of the PAPER, and it depends almost entirely on how far the price moves before you close.
Read the guideThe Papertrade pool, the cap and the payout queue
Every trade on Papertrade is made against one pool. It started at zero, it is capped, and when traders win more than it holds, their profit waits in a queue.
Read the guide