BREAKING: Kimi K3.1 model has been announced. This model succeeds K3 the previous #1 ranked model for 'multimodal & grounded' benchmarks on BenchLM

On our @papertrade_xyz pre-market futures listing. We’re supportive of ambitious projects like Papertrade and believe open market price discovery can be valuable, even before a token launches. But the choice of financial instrument matters. Pre-market token perpetuals have a fundamental problem: without a spot market, there is no underlying price to index against. We believe dated futures are a better instrument for early-stage tokens. Unlike perpetuals, futures have a defined expiration date and settlement conditions. The underlying token doesn’t even need to exist. Take $PAPER26 on MNX: The contract expires on December 31, 2026. If $PAPER has never genuinely traded on a spot market by then, it settles to $0. This is particularly important for short sellers. They can trade with confidence that a token failing to launch has a clearly defined settlement outcome, allowing profitable shorts to realize their gains. That incentivizes short-side liquidity, which in turn promotes more balanced, accurate price discovery.