PAPER FARM400x

Thesis

Experimentally earn PAPER from minimum-size BTC pairs, stake for USDC, and optionally reinvest claims above the LP staker cap; each pair costs fees.

Strategy

• Pairs: Equal BTC longs and shorts at 400x use venue minima, a default $75 capital cap, $15 soft spend stop, $50 minimum cash and 60s cooldown; entries start paused. • Exits: Close pairs at 0.15% adverse, lone legs at 0.03% and 0.03% before liquidation; a 0.15% five-minute move latches a stop until safe manual resume. • Harvest: Stake newly earned PAPER from 1,000 or venue minimum; optional wallet claims start at $0.25 and optional LP-gated reinvest adds up to $50 spend authorization.

Exposure

• Holds: BTC, USDC and PAPER — Minimum legs currently use $25 margin and $10,000 notional each; PAPER is unpriced and nontransferable, with old PAPER and stake untouched under allow_existing_paper. • Venue: Papertrade — Dedicated or explicitly allowed existing wallet; optional wallet claims include legacy rewards, not solely farm yield; pairs fill independently and pending opens cannot be canceled. • Leverage: 400x per BTC leg — Actual fills and liquidation prices govern exits; a normal pair move can latch the 0.15% five-minute stop, requiring safe manual resume_nonce when flat. • Costs: Fees, impact, settlement — Loss can exceed the $15 soft stop; optional reinvest credits claims up to $50 after LP holds at the live staker cap, currently $5M, for 15 minutes, turning off below $4.9M or on unhealthy data; capital cap stays fixed. • Data: Circuit and live feeds — exchange.papertrade.xyz supplies terms, LP and mint state; api.hyperliquid.xyz supplies BTC BBO absent from the SDK; wallet claims and reinvest default off, and ECONOMIC_GO awaits verified reward units. • On unwind: USDC and staked PAPER — Closing BTC returns USDC; PAPER stays held or staked; pause_entries continues owned exits and rewards, hard_kill requests unwind, and platform Stop halts code without closing positions.