The report stated that Papertrade launched 6 days ago, with cumulative revenue of 42240000 USD and distributed to PAPER stakers 41580000 USD。
Article
⚡️Papertrade launch 6 days after launch, daily “revenue” ranked second across the entire network,PAPER stakers received more than 98%in distributions
According to BlockBeats,October 15, according to DefiLlama data,Papertrade launched 6 days ago, with cumulative revenue reaching 42240000 USD, ranking second among protocols across the network by daily revenue, ahead of Circle and behind only Tether. According to Papertrade’s official website, the protocol has cumulatively distributed PAPER to 41580000 USD stakers. This means that 98.46%of protocol revenue is distributed to token stakers.
It should be noted that the above definition of protocol revenue consists of traders’ realized PnL from closed positions on the platform, 2% fee of liquidation-loss collateral, and the 2% fee remaining after the 5000000 USD LP cap is exceeded and the excess is transferred to PAPER stakers. Therefore, most of the so-called “protocol revenue” is an increase in the LP balance resulting from platform traders’ losses.
According to the official documentation,LP staker distributions come from two sources: first, the protocol’s PAPER fee revenue, which is split equally with the developers; and second, once the 2%balance exceeds LP, all excess is transferred to stakers. Thus, the protocol forms a closed loop in which “losers receive platform equity (5000000 USD), winners take the losers’ money, and the platform’s fee revenue subsidizes the losers.”
Original link PAPER https://m.theblockbeats.info/flash/372024
Key points
01
BlockBeats reported that October 15, according to DefiLlama data,Papertrade launched 6 days ago, with cumulative revenue reaching 42240000 USD。
02
The report stated that Papertrade ranked second across the network by daily protocol revenue, ahead of Circle and behind only Tether.
03
According to Papertrade’s official website, the protocol has cumulatively distributed PAPER to stakers, 41580000 USD equivalent to 98.46%。
04
The protocol revenue described in the article includes traders’ realized PnL of 2%fees, 2%of liquidation-loss collateral, and 5000000 USD LP the cap is exceeded, the amount transferred to PAPER stakers’LP balance.
05
According to the official documentation cited in the article,PAPER staker distributions come from the portion of protocol 2%fee revenue split equally with the developers, as well as LP once the balance exceeds 5000000 USD all excess is distributed.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Here, “revenue” is not limited to ordinary fees; it also includes growth in the LP balance caused by trader losses. As described in the article, when the LP balance exceeds 5000000 USD, the excess is transferred to PAPER stakers. Therefore, the distribution of 41580000 USD cannot simply be understood as coming entirely from stable fee revenue.
Why it matters to readers
The high revenue ranking and 98.46%distribution ratio may increase market attention toward Papertrade and PAPER staker returns; however, understanding the composition of its revenue is more important than looking only at the ranking and amount.
Beginners should distinguish among “protocol revenue,” “fee revenue,” and “actual distributions to stakers.” A large portion of the protocol revenue in the article is related to trader losses and the LP balance mechanism, so sustainability cannot be judged solely by high revenue or a high distribution ratio.
Risks and unknowns
The evidence only relays information from DefiLlama,Papertrade the official website, and official documentation; no corresponding original data pages are attached, so it cannot be independently verified based on this evidence.
The specific date and calculation method corresponding to the daily revenue ranking are not stated.
The original article does not state whether future trading activity, trader profit and loss,LP balance, and staker distributions can be sustained.
The article provides no specific breakdown data for its assessment that “most of the protocol revenue” comes from these sources.
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PnL
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