Less than 10 minutes after Papertrade launched, notional trading volume had already reached $14.4 billion.
BTC/ETH contract open interest stands at $3 billion / $2.66 billion, respectively.
Mechanism:
· For every $1 a user loses, the protocol mints PAPER according to a curve
· When the LP balance is below $2 million: 100 PAPER are minted for every $1 lost
· Once the LP balance exceeds $2 million: the minting rate decreases as the balance increases
#Papertrade #PAPER #BTC #ETH
BTC/ETH contract open interest stands at $3 billion / $2.66 billion, respectively.
Mechanism:
· For every $1 a user loses, the protocol mints PAPER according to a curve
· When the LP balance is below $2 million: 100 PAPER are minted for every $1 lost
· Once the LP balance exceeds $2 million: the minting rate decreases as the balance increases
#Papertrade #PAPER #BTC #ETH