$TRADE

Fixed supply of 1B: 75% to early traders who lose, 20% to the team over 2 years, 5% to PAPER holders. Staked, it earns half of all fees and a share of pool gains.

$TRADE is the pool's fee-claim token.

Supply and allocation

Fixed supply of 1,000,000,000 $TRADE, split three ways. Every allocation is paid out by contract on a public schedule; nothing is minted outside it.

At launch $TRADE cannot be transferred between wallets. It can be staked and unstaked.

Early-user emissions (75%)

The 750M is paid out over 26 two-week periods. Each period pays 10% less than the one before:

Within each period, that period's tokens are shared among everyone who lost, in proportion to their eligible loss during the period. Eligible loss is the same as on Papertrade:

• Losing close with an empty queue: the loss minus the 2% loss-side fee.
• Losing close with an active queue: the full loss.
• Liquidation: the full lost margin, always.

Funding paid does not count. Tokens are credited when the period ends.

Early traders earn far more $TRADE per dollar lost than later ones, because early periods are bigger and the pool is smallest then. After period 26 emissions end: losers no longer earn $TRADE, and stakers keep earning fees and pool gains.

Team (20%)

200M $TRADE stream linearly, second by second, over 24 months from launch, through an on-chain vesting contract to a published team wallet. There is no cliff and no up-front unlock. The contract cannot be sped up, paused or redirected, so anyone can check at any time exactly how much the team has received.

PAPER holders (5%)

50M $TRADE go to holders of Papertrade's PAPER token over the same first year, about 137,000 a day.

• Accrual. Each day, the day's 137,000 are shared among wallets holding PAPER (staked or unstaked) in proportion to their PAPER balance, read from Papertrade's token and staking contracts on HyperEVM. No snapshot: it is recalculated every day.
• Visible any time. A PAPER holder who connects the same wallet to tradeeverything.xyz sees what they have accrued so far.
• Claim once they have earned $TRADE. Accrued tokens unlock for claiming once that wallet has earned $TRADE from the early-user emissions, that is, once it has traded here and lost in at least one period.
• Transparency. A daily root of PAPER balances is posted on-chain; anyone can recompute it from HyperEVM data.

Staking

Stake and unstake any time, with a wallet signature. No lockup and no cooldown.

Stakers earn USDC from two sources:

1. Half of every fee. The toxicity win fee and the 2% loss-side fee, split 50% to stakers and 50% to the dev fee recipient. Paid only while the queue is empty and the pool can cover them.

2. A share of pool gains. Every dollar the pool gains is split between the pool and stakers, at a rate set by how big the pool is when the gain arrives:

   Pool equity	Stakers get	Pool keeps
   Under $5M	1%	99%
   $5M to $10M	50%, rising evenly to 80%	50% to 20%
   $10M and up	80%	20%

   • It works like tax bands: a gain that crosses $5M or $10M is split across the bands.
   • The 50% to 80% rates apply only when the pool is at a new high. If the pool falls from $9M to $7M, the gains that take it back to $9M are swept at 1%, so the pool rebuilds before stakers are paid again.
   • Pool equity means cash minus the payout queue minus what open positions are owed.
   • Nothing is swept while the queue has anyone in it, and stakers never pay back losses.
   • The pool keeps at least 20% of every gain at every size, so its buffer never stops growing.

Rewards accrue through a global reward-per-share accumulator. Claimed USDC goes to the staker's trading balance, from where it can be withdrawn.