Among the 25 biggest loss-makers on Papertrade's leaderboard, only four were profitable overall after receiving USDC rewards; 21 remained in the red. According to BlockBeats On-chain Detection, Lookonchain reported on October 20 that the group generated $111.5 billion in trading volume and earned 2.06 billion PAPER, equal to 23.4% of the token's supply. The traders also received $11.61 million in USDC rewards, accounting for 20.6% of all rewards.
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Papertrade's Top 25 Loss-Makers: Only Four Turned Profitable After USDC Rewards
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