Papertrade Records $178,000 in Daily Revenue After PAPER Token Transfer Ban

Total value locked (TVL) was about $40 million, while cumulative revenue reached $61.96 million during Papertrade’s first 12 days. Revenue over the prior seven-day period ranked third among protocols, a longer measurement window than the daily ranking. Papertrade had earlier ranked among the top three protocols for daily revenue and generated more than Hyperliquid. Trading activity and other protocol metrics declined by varying amounts after the transfer restriction. Founder Jez had previously said that whether the PAPER token was transferable would not change a degen’s long-term choice to trade on Papertrade.