727 FinancePANews October 20 news: papertrade announced that it will temporarily not open off-contract transfers of the PAPER token. The reason is that external PAPER perpetual contracts can be used to short the funding pool's solvency, which would lower the threshold for manipulation attacks. The protocol will also adjust fees: positions closed within 6 bps of the opening price during major trading sessions and within 10 bps during non-major trading sessions will be subject to the new rates, with the impact on bot strategies approximately 15 times that on ordinary traders. Token issuance will change to minting about 0.1% of the supply for every $1 million in losses. This upgrade will also introduce builder codes in whitelist form, taking effect after a 24-hour timelock.
papertrade is temporarily not opening PAPER token transfers and will adjust the fee and token issuance mechanism.
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