Papertrade has no current plans to enable the transferability of the PAPER token and will adjust its fee and token minting mechanisms.

BlockBeats news, October 20 - Papertrade announced that there are currently no plans to open external transfers of the PAPER token contract, and will adjust short-term trading fees and the token issuance curve. The team believes that PAPER perpetual contracts could make the liquidity pool's solvency a target for shorting, and external short exposure may increase the profits of manipulation attacks, and these markets are not controlled by the protocol.

Fee adjustments will be implemented in phases, affecting only trades where the closing price is within 0.06% or 0.1% of the opening price; fees for trades exceeding the corresponding thresholds remain unchanged. The team stated that based on backtesting of data since launch, these adjustments have about 15 times the impact on the profitability of bot strategies compared with ordinary traders, and are expected to create room for relaxing the upper limit on open contract size.

Regarding token issuance, for every $1 million in future losses, tokens equivalent to about 0.1% of the PAPER supply at that time will be minted, with the specific ratio depending on the minting rate at the time of the contract upgrade. When the liquidity pool approaches or enters an insolvent state, it will no longer mint a fixed 100 PAPER per $1 of loss, and will instead use a weighted multiplier mechanism that grows over time. The team stated that in the long term, the new mechanism will gradually dilute the share of earlier holders, giving recent users an advantage.

This upgrade will also introduce builder codes that are initially open only to whitelisted users, and adjust some contract permissions to prevent gas consumption attacks. The team will make a separate announcement when the upgrade enters the time lock, and plans to launch 24 hours thereafter, subject to final security checks.