Papertrade Keeps PAPER Token Nontransferable Citing Perpetual Contract Attack Risks
Papertrade says its PAPER token will remain nontransferable because of risks from perpetual contract attacks. According to ChainCatcher, the Hyperliquid-based protocol says holders who received PAPER through trading losses can stake the tokens to earn USDC distributions. Papertrade has not announced when transfers or sales may be enabled, leaving holders unable to trade or transfer PAPER on secondary markets for now; the fully on-chain protocol supports up to 1,000x leverage and says it operates without market impact.