Fees are 2% of a trader's gain after the price-impact haircut, plus 2% of the margin of liquidated positions, and half goes to PAPER stakers and half to the dev fee recipient. Profit the protocol-owned USDC pool earns above a $5 million cap is also paid to PAPER stakers.

Papertrade is a perpetual futures exchange on HyperEVM where every position is a trade against a single protocol-owned USDC pool, with no outside liquidity providers. Traders enter at the HyperCore mid price with no spread, slippage or funding. Losing traders are minted PAPER, which stakers lock to earn the protocol's USDC distributions.

Papertrade is a perpetual futures exchange on HyperEVM. Its contracts are upgradeable, owned by a timelock with a 7-day delay that is controlled by a 2-of-3 multisig.

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Papertrade

# papertrade Fees Supply Side Methodology

## 1. Overview

Fees Supply Side is defined as the portion of transaction fees that is distributed to supply-side participants. For Papertrade, this metric is set to a constant value of zero. Because stakers are classified as asset holders rather than external liquidity providers, all generated fees are designated as protocol revenue. Consequently, no fee allocations are directed to supply-side participants.

## 2. Data sources

- **None**: A constant value of zero is assigned, and blockchain events are not directly consumed for this metric.

## 3. Step-by-step calculation

### Component A: Supply-side fee allocation

- **Purpose**: The assignment of the portion of fees distributed to supply-side participants.
- **Logic**: A constant value of zero is applied to the metric for all intervals. All fees generated from positions closed and liquidations are classified as protocol revenue, as stakers are treated as asset holders rather than external supply-side participants.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Portion of fees distributed to service providers or supply-side participants.

PapertradePAPER

Supply-side fees

Supply-side fees

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