Papertrade Posts $14.4 Billion in Notional Volume Within 10 Minutes
Photo: TokenPost
Papertrade recorded $14.4 billion in notional volume less than 10 minutes after launching, alongside billions of dollars in open interest tied to Bitcoin and Ether futures. Bitcoin (BTC) futures open interest reached $3 billion, while Ether (ETH) futures open interest reached $2.66 billion during the initial burst of activity. Papertrade’s mechanism mints PAPER when users lose money. When liquidity-provider balances are below $2 million, the protocol mints 100 PAPER for every $1 lost. The minting rate declines as liquidity-provider balances rise above $2 million. The figures were recorded at about 10:11 a.m. ET (14:11 UTC) on Oct.
Source: TokenPost
