Paragon Settles PAPER Perpetuals at $0.026296 After Trading Halt

Paragon has halted trading in perpetual contracts tied to Papertrade’s PAPER token and settled every open position at $0.026296 as transfer restrictions disrupt markets linked to the asset.

The settlement closes outstanding positions on Paragon’s PAPER market. Its $0.026296 settlement price applies to those contracts; PAPER transfers remain prohibited.

Aster separately moved its PAPER premarket perpetual contract to reduce-only mode and announced plans to delist it. Traders can reduce or close existing positions under that restriction, but cannot increase them. Aster’s contract is a derivative tied to PAPER, rather than a market for transferable tokens.

Papertrade’s founder said the PAPER perpetuals market opened earlier than expected while potential attack risks to the protocol remained unresolved.