papertrade Temporarily Disables PAPER Token Transfers, Will Adjust Fee Structure and Token Issuance Mechanism

papertrade announces that off-contract transfers of the PAPER token will not be opened for the time being. The rationale is that external PAPER perpetual contracts can be used to short the solvency of the capital pool, lowering the barrier to manipulation attacks. The protocol will also adjust its fee structure: new rates will apply to positions closed within 6 bps of the entry price during core trading hours, and within 10 bps of the entry price during non-core trading hours, with the impact on bot strategies being approximately 15 times that on regular traders. Token issuance will be modified to mint roughly 0.1% of the total supply for every $1 million in incurred losses. This upgrade will also introduce builder codes via a whitelist mechanism, which will take effect after a 24-hour timelock period.

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