Papertrade shows $10.3 million in staker rewards shortly after launch
Photo: Crypto Briefing
The HyperEVM perpetuals exchange pays PAPER stakers from trader losses, and early numbers suggest plenty of traders showed up to lose Papertrade, a synthetic perpetuals exchange built on HyperEVM, opened for trading on October 10, 2026. Shortly after launch, it displayed approximately $10.3 million in rewards owed to stakers of its native token, PAPER. That figure matters because of where the money comes from. Papertrade’s stakers get paid out of trader losses, so a big reward number means a lot of people got their trades wrong, fast. The platform runs on a single shared liquidity pool denominated in USDC .
Also reported by The Defiant.
Source: Crypto Briefing
