This is the most textbook example of a Huajiao-style structure I’ve ever seen @papertrade_xyz 1. This is a mutual-aid + dividend-focused project. The split isn’t clear yet, but the liquidity flow of high-to-low cuts post-paper can be recombined and rebuilt. 2. The protocol’s (dealer’s) profit formula is close to a mutual-aid model variant: Profit ≈ rake (haircut + win fee + front-end) + liquidity accumulation from queue delays + secondary market potential driven by early attention (when transfers are enabled in the future). 3. Chop the head: forced loss on entry + soft lock; Cut the tail: profit queue + non-transferable + liquidation; Middle flow: losses → LP → PAPER → staking rake flywheel.