Papertrade keeps PAPER token non-transferable, citing manipulation risks
Crypto BriefingEstefano Gomez
Traders who earned PAPER by losing money can stake it for USDC payouts, but there is still no date for when they can sell or move it Papertrade has a token you can only earn by losing money. Now it has decided you can’t sell it, either. The HyperEVM-based perpetual futures protocol announced on October 19, 2026 that PAPER will not support off-contract transfers. The team says opening transfers could enable manipulated trading that threatens the protocol’s solvency. No timeline exists for when that might change. Holders aren’t left with nothing. They can stake PAPER and collect distributions in USDC. They just can’t send the token to another wallet or list it on an exchange, which means PAPER currently has no market price at all.
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