Papertrade Dashboard Shows $10.3M in Staker Rewards Hours After Launch

The striking detail is the funding source: staker rewards are being paid out of trading losses, not emissions or external incentives, which ties yield directly to how badly leveraged traders perform. That makes the headline reward figure a function of counterparty pain rather than protocol subsidy, a structure worth watching because it inverts if traders start winning. The absence of queued payout debt and the relatively modest house pool against rewards already distributed is the other tension — whether the pool keeps pace as positions accumulate is the open question.