Trust
Trust and risk
Some of PaperJet is enforced by the contracts. Some of it is a treasury you can watch but not control. Read both before you mint.
On-chain
- Mint routing: fee to the dev wallet, deposit to the vault, in one transaction.
- The deposit stored on each NFT, which is the reward weight.
- Distributor math: who is staked, and how a USDC distribution is split.
- Custody of a staked NFT by the distributor until you unstake.
Custodial
- UETH or USDC that has left the vault for the trading account.
- Balances and positions inside papertrade.
- PAPER sitting in that account, and the decision to stake, claim, and distribute.
- The hardware wallet that can withdraw from papertrade.
The trading account and the Safe are published on paperjet.world when the mainnet deployment is recorded. Until then the site says “Published at deploy” and does not show a stand-in address. Check the address on the site against the block explorer before you approve UETH.
Risks
Principal
Trading can lose the USDC. A hard bust on a leveraged position can wipe that position. You cannot redeem the original UETH.
No redemption
The model is perpetual. Selling the NFT on a market is the way to exit the position. The sale price is whatever a buyer pays. The deposit does not come back from the vault.
Stake to earn
An unstaked jet does not receive distributions. Its share is allocated across jets that are staked. Unstaking pays what is already pending and then stops the jet earning.
Custody
After capital leaves the vault, you are trusting the trading account, its allow-list, and the people who can sign. The vault cannot force papertrade to return funds.
Protocols
papertrade, Hyperliquid, Unit (UETH), and Circle (USDC) can fail, pause, queue payouts, or change under their own admin. A queued win on papertrade is not USDC in the distributor yet.
PAPER
PAPER is non-transferable at launch. Its only path to holders is the USDC it might earn while staked by the treasury. That stream can be small or zero.
Contracts and rules
The contracts are non-upgradeable, and they were not externally audited before the mint window. Pooled profit-sharing can be regulated where you live. The site can refuse the mint in restricted regions. The contracts themselves do not know your country.
PaperJet is not affiliated with papertrade.xyz. Use only paperjet.world and docs.paperjet.world. A mint prompt on any other host is not this project.