The $Paper Mechanic Is Wild @paperdao_xyz I dug deeper into PaperDAO and the token design is way more interesting than the usual perp narrative. Here’s the part most people will miss: Trader losses become the source of $PAPER. When a user realizes a loss or gets liquidated, that loss goes to LPs and $Paper is minted as the claim on those fees. You can’t just deposit into the LP yourself. And at launch, $Paper can’t be freely transferred either. It’s basically built around staking, unstaking and treasury exposure. Then $PULP creates another loop. 100% of trading fees from $PULP volume go toward buying back and burning $PULP. 1.1B total supply. 100M locked in a Uniswap V3 pool. So you have: Trader losses → $Paper creation $PULP volume → buybacks + burns Treasury → pro rata claim through $PAPER The oracle setup is interesting too. PaperDAO uses Hyperliquid BBO mid for pricing, but doesn’t actually trade perps on Hyperliquid, meaning there are no Hyperliquid funding costs. That’s a pretty different architecture from the typical perp meta. And @4IV4R / @izebel_eth is building it. I’m paying attention before the crowd fully figures out what the token mechanics are doing. Apply for the PaperDAO whitelist: daos.world/launch/paperdao/a…