Add as a preferred source on GooglePapertrade Keeps PAPER Non-Transferable Amid Oracle Manipulation Concerns
Aster has offered a pre-launch perpetual contract tied to PAPER with leverage of up to 3x, even though the token cannot be transferred.
Papertrade will keep its PAPER token non-transferable amid concerns about potential oracle manipulation, leaving holders without a spot market even as derivatives tied to the token have traded.
The HyperEVM-based platform mints PAPER for eligible trading losses and liquidations. Holders can stake the token for USDC distributions, but they cannot transfer it to another wallet or sell it on a spot market.
The restriction has not prevented traders from taking positions in derivatives tied to PAPER.
The restriction reflects concern about potential oracle manipulation in Papertrade’s perpetuals market.
In earlier coverage of the platform’s pricing risk, crypto trader Rune alleged that manipulation of Hyperliquid’s best bid and offer could influence Ether (ETH) prices on Papertrade.
Aster’s PAPER pre-launch perpetual contract has allowed leverage of up to 3x without making PAPER transferable.
Simon Yoon
ReporterSimon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.