Users Leave After Token Transfer Ban? Papertrade's Daily Revenue Drops Out of Top 20 Protocols

Odaily reports: According to DeFiLama data, Papertrade's daily revenue has fallen out of the top 20 blockchain protocols, with current daily revenue at $178,000, ranking 20th in protocol revenue. Papertrade has been live for only 12 days, with total protocol revenue of $61.96 million, ranking 3rd in 7-day revenue. Previously, Papertrade's daily revenue even far exceeded Hyperliquid, ranking in the top three.

However, since Papertrade announced on October 20 that its protocol token PAPER would be non-transferable, various protocol metrics have declined to varying degrees, with user trading activity dropping, and current protocol TVL at only about $40 million. PaperTrade founder Jez previously stated that whether the token is transferable will not change whether a degen chooses to trade on PaperTrade long-term.

For more content, read "Can't Sell Tokens, 526 Days to Break Even, No One Is Playing PaperTrade Anymore"