PAPER MILL 250

Thesis

Mint PAPER from 250× BTC losses while a surviving opposite position targets a 2% move to offset cycle costs.

Strategy

• Cycle: Fix each BTC leg at initial allocation ÷ 24; open both together, let liquidation occur, then hold the survivor for a favorable 2% move. • Pause: Block new cycles below $500 bankroll, on unpaid winnings, after 18 losses, above $0.005 per PAPER over 20 cycles, or on errors. • Reports: Check fees before entry, close incomplete entries, log each cycle and report every six hours; never stake, claim or transfer funds.

Exposure

• Holds: BTC pairs and PAPER — One cycle at a time; after liquidation, the survivor stays open until its 2% target or liquidation. • Venue: Papertrade — Start with allocated Papertrade USDC; $2,000 gives about $83.33 fixed margin per leg; insufficient capacity is rechecked every 60 seconds. • Leverage: 250× per leg — Each leg needs $10,000 exposure; the smallest allocation is 960 USDC with $40 margin per leg. • Costs: Win haircut and fee — Published terms charge a haircut and 2% fee on winning gains, with no notional trading fee or user-paid gas. • Data: Circuit + fee docs — Circuit supplies BTC prices and positions; docs.papertrade.xyz supplies fee terms absent from Circuit data. • On unwind: USDC and PAPER — Closed positions return available or queued USDC; minted PAPER remains unstaked and stopping leaves open positions in place.