**[Papertrade's Single-Day Revenue Surpasses Circle for Two Consecutive Days, Ranking Second Globally]** BlockBeats News, October 16: According to DefiLlama data, Papertrade's single-day revenue reached $7.49 million, surpassing Circle and ranking second among all protocols globally for two consecutive days, second only to Tether. Since its launch seven days ago, the platform has accumulated $57.16 million in revenue and distributed approximately $52.76 million to PAPER stakers, accounting for about 92.30% of total revenue. It is worth noting that the calculation of the protocol's revenue is somewhat unique: it includes a 2% fee on realized PnL (Profit and Loss) from traders closing positions on the platform, a 2% fee on margin losses from liquidations, and LP balances exceeding the $5 million cap, which are transferred to PAPER stakers. Therefore, the so-called "protocol revenue" largely stems from the growth of LP balances caused by trader losses on the platform. According to the official documentation, PAPER staker dividends come from two sources: 1. The protocol's 2% fee revenue (split equally with developers). 2. Any LP balance exceeding $5 million, with all excess amounts fully allocated to stakers. As a result, the protocol forms a closed loop of "losers receiving platform shares (PAPER), winners taking the losers' money, and the platform taking fees from winners to subsidize losers." [Original Link]