How Does PaperTrade Offer 1,000x Leverage With No Fees?

Quick favor: We’re deciding what Unchained does next; new shows, stream times, what’s worth paying for. Our listener survey (https://unchainedcrypto.com/survey) takes five minutes, it’s anonymous, and I read the write-in answers myself. Everyone who finishes it gets a free month of Premium, Unchained or Bits + Bips, your pick. Open through Sunday, November 8. — Laura ======================================================================== PaperTrade drew $140 million in pre-deposits by offering 1,000x leverage on Bitcoin and ETH with no fees, no slippage and no funding rate. Jason Pagoulatos, Head of Markets at Delphi Research, tells Laura Shin how that works: every trade is taken against a house pool funded by losers' margin, and losses mint a PAPER token as a rebate. He also covers why the team compared it to old bucket shops, the queues that slowed closing trades on HyperEVM, and the launch-day trader who pushed ETH around on Hyperliquid to move PaperTrade's price feed. ======================================================================== Host: 👉 Laura Shin - Founder, CEO and Host of Unchained - https://x.com/laurashin Guest: 👉 Jason Pagoulatos - Head of Markets at Delphi Research - https://x.com/3xliquidated ======================================================================== This clip is from a longer conversation on PaperTrade's 1,000x leverage model and its reversal on the PAPER token. Full episode here: https://youtu.be/Zs7VwdO270I We go live twice every week - subscribe to catch it live. Sponsor Put your crypto to work with Nexo: earn daily interest or borrow funds against your assets on one platform trusted by more than 10 million clients. Find out more at Nexo. Geo-restrictions, eligibility and terms apply. ======================================================================== Chapters: ⚡ 00:00 What PaperTrade is and why crypto Twitter piled in 🏛️ 03:47 Why PaperTrade's model echoes the old 'bucket shops' 🎰 04:44 How winners get paid and losers mint PAPER 🚀 08:30 Launch week: $140M in pre-deposits and slow exits on HyperEVM 📈 10:55 How one trader moved PaperTrade's price feed on day one ======================================================================== #bitcoin #ethereum #crypto #cryptocurrencies ======================================================================== Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!