Papertrade, a decentralized perpetuals exchange, saw its staking revenue plummet 93% in one day after making its PAPER token non-transferable. This change caused many yield farmers to exit, leading to a sharp drop in trading volume and total value locked. The protocol's revenue depends heavily on trader losses and fees, which were initially boosted by farming incentives. Now, with reduced farming rewards and user trust questioned, the platform faces uncertainty about sustaining organic activity and revenue.
Papertrade's recent challenges come as a backdrop to today's cryptocurrency market performance. For readers following major cryptocurrencies on Pluang, as of Oct 22, 2026 22:51 WIB, 45 out of 50 major cryptocurrencies fell. Notable movers include BAL rising 11.14% to Rp16.297, FIL dropping 8.62% to Rp17.382 with 83% buy order activity, and EOS increasing 8.13% to Rp12.649.
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