Delphi’s Jason Pagoulatos Says Papertrade Is ‘Kind of Bait and Switching’ PAPER Holders
By Unchained
AI summary of the source article
Papertrade altered its plans to enable PAPER token transferability after users pre-deposited approximately $140 million. Delphi Digital's Jason Pagoulatos criticized the change in terms, while acknowledging risks regarding token shorting and price manipulation.
Why it matters
Papertrade explained its decision by stating that "a market for shorting PAPER would make price manipulation pay."
Key facts
- Papertrade announced on Oct. 19 that it has no plans to allow off-contract token transferability, despite listing transfers in its Oct. 1 launch plan.
- Users had pre-deposited roughly $140 million into Papertrade before the rule change.
- Papertrade distributed about $57 million to PAPER stakers through Oct. 21, according to DefiLlama.
Source excerpt · Unchained
The Delphi Digital head of markets said Papertrade has the attack risk right, but that rewriting the rules once roughly $140 million had come in is "a bad look." The post Delphi’s Jason Pagoulatos Says Papertrade Is ‘Kind of Bait and Switching’ PAPER Holders appeared first on Unchained .