Papertrade Traders Lose $18.2 Million as Staking Rewards Reach $12.6 Million
- Published
- Updated
Papertrade traders recorded losses of about $18.2 million to $18.6 million, while staking rewards on the platform reached about $12.57 million to $12.6 million. The rewards were distributed to PAPER stakers rather than sent back to the individual traders who lost money.
Key claims & sources
What it means
People trading on Papertrade are the ones directly affected today, because the platform recorded losses for traders while staking rewards were paid out to PAPER stakers. That means the rewards flow to stakers rather than back to the traders who lost money.
In practice, the distribution of money on the platform is not the same as a reimbursement to each losing trader. The setup still leaves trading losses on traders and staking payouts on stakers, even though the amounts are reported alongside each other. (per cryptobriefing.com)
Market reaction i
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
Coverage timeline
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Crypto Briefing
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