PAPER top 10 stakers: early losers became the house
Quote180 words
The top 10 PAPER stakers lost $8.58M trading but already earned $9.06M back in staking rewards and still hold 1.34B PAPER (15% of staked). The non-transferability ban hurt late farmers, not whales, and every further dollar they earn comes from the next trader losing.
Key claims
Top 10 stakers: lost $8.58M, earned $9.06M, hold 1.34B PAPER
They paid ~$0.006 of losses per PAPER vs ~$0.11 on the new mint curve
Next 12 months on 1.34B PAPER: ~$1.1M bear, ~$4.6M base, ~$33M at the last 24h overflow pace
Did the math on the top 10 $PAPER stakers.
They lost $8.58M trading on @papertrade_xyz. They've already earned $9.06M back in staking rewards.
So in cash they're up ~$0.5M, and still hold 1.34B PAPER (15% of all staked):
- ~$15K a day on fee share alone
- ~$104K over the last 24h with overflow back on
- ~$35M at Paragon's $0.0263 settle
#1 wallet alone: lost $979K, earned $2.06M, and has withdrawn $1.04M more than it ever deposited. Still sits on 252M PAPER.
Next 12 months on that 1.34B PAPER: ~$1.1M bear, ~$4.6M base, ~$33M if the last 24h's overflow pace holds.
They paid ~$0.006 of losses per PAPER. The new mint curve charges ~$0.11.
So the ban didn't hurt the whales. They got their money back before the door closed. It hurt the late farmers, who minted at a fraction of the early rate and now can't sell.
From here, every dollar the top 10 earn comes from the next trader losing, and that sums up the model in one line: the early losers became the house.
NFA ofc.
QUOTING @zerokn0wledge_
$6.7M a day to $88K a day in under a week. That's what @papertrade_xyz paid its $PAPER stakers on the 15th vs the 21st of October. CT has a clear culprit: the "PAPER stays non-transferable" post from the 19th. But the data actually shows that the collapse already started two da
$6.7M a day to $88K a day in under a week. That's what @papertrade_xyz paid its $PAPER stakers on the 15th vs the 21st of October. CT has a clear culprit: the "PAPER stays non-transferable" post from the 19th. But the data actually shows that the collapse already started two da
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