Unitree Introducing: H2-X Kung Fu Legend Guardian🤖 Powerful performance to serve and guard you, with a maximum endurance of approximately 8 hours. Please use the robot safely and in a friendly manner.

Just read this and after sitting with it for 15-20 minutes, these are my thoughts. As an early staker and owner of paper: - probably guarantees a decent return for stakers (as in the revenue is much more likely to come now) - excitement of being a paper owner is gone now, there is no bear base or bull case, there is only a lifetime max upside of around .02 per paper at current net losses/gross loss ratio. - only variable now is whether you get that in months or years. - token transferability doesn’t really matter anyway. Each token represents a max revenue/token potential at any stage and will get discounted to current level - only variable that affects max payout curve is netloss/gross loss ratio. I think as an early paper staker there is little to be happy about here. What was looking like opening price for paper (.026) is now more than what you can make in lifetime revenues. What some early stakers (including myself) were excited about there being a right tail event of papertrade being extremely successful is now bust. What it does tho is probably guarantees that you make around 2 cents per paper in lifetime revenues which was less certain. Its still a fantastic trade for most early users imo. I think what stings the most for me is that now there is no way to speculate and gain from protocols success over the long term. Pay off remains same no matter papertrade makes 500 mil a year or 10 billion a year. If you are a paper bull, there is no way to express it. Also now there should be absolutely 0 reason to farm the token. Should be a good test of where organic volumes settle at. As a perp trader : - each $1 lost in the casino earns paper which will recover around 22-30 cents of the $ lost paid out over months and years (depends on volume) - assuming there are no ev+ farms in crypto perps left (variational right now and maybe even hyperliquid s3?) papertrade becomes the most ev+ venue to trade on - this then ensures that the platform now has long term sustainability angle. Good for customers of the house, bad for owners of the house who will get diluted to 0. Argument is that without customers house owners would anyway be sitting at 0 which is fair. @izebel_eth i agree owning smaller slice of a bigger pie is better than large slice of smaller pie. But is there anyway to ensure the slice doesnt trend to 0 long term 😅 There is very little joy in playing limited upside games vs uncapped upside games. As for myself - i think i would continue to trade organically on papertrade for eth and btc since its ev+ and shift most of my focus back on farming variational (tradfi + alts) for the time being.