blurr explains how papertrade uses $Paper to bootstrap liquidity with trader losses
“On a perp, whenever you take a long, someone on the other side is taking a short. That’s just how they operate. In a casino, when you’re betting, you’re betting against the house, which is owned by whoever owns the casino. That means you need somebody else on the other side to take that risk on.
“If you go to a casino, oftentimes they’ll have a max bet that you can’t break. The casino has to run Kelly on its bankroll, and that is a problem because the cold start for this kind of thing is much higher than it otherwise needs to be."
"But with tokens, you can effectively sell the upside in the bankroll by getting people to gamble into it”
“If people assume or think that I will be profitable in the long run, they’re encouraged to sort of lose money into it to buy the equity in the system.”
my full interview with @blurr, co founder of @papertrade_xyz
0:46 origins of papertrade
3:46 how papertrade works
11:29 learning from broken launches
13:35 why build on HyperEVM?
10:04 no funding fees on a $20M position?
25:00 how $Paper emissions work
32:59 I love jez
35:24 onchain wizard with no socials
39:18 super dead, super rich, or supermax
42:36 Tether on a phone was a Godsend
48:21 breeding CryptoKitties for profit
54:01 farming Curve for 3 hours
57:23 crypto can't be a social movement
1:07:29 value of labor is tunneling
1:10:46 why Blurr is a doomer
1:21:35 the CryptoPunks trade
1:28:19 advice for kids chasing the dream
as we get closer to papertrade launch, im going to be putting out some thoughts on the platform and the launch itself over the next week or so
if ppl have unanswered questions pls drop them below
gl to us