Papertrade traders lose $18.6 million while stakers collect $12.57 million in rewards
Photo: Crypto Briefing
The 1000x leverage perpetuals exchange on HyperEVM pays stakers from trader losses, while losing traders receive newly minted PAPER tokens instead of refunds Papertrade opened for business on HyperEVM on October 10, 2026, offering up to 1000x leverage on BTC and ETH perpetual contracts. Within hours, traders had racked up approximately $18.6 million in net realized losses. Meanwhile, the people on the other side of the ledger did fine. Stakers of the platform’s PAPER token collected around $12.57 million in rewards during the first 24 hours.
Source: Crypto Briefing
