Among the top 25 losers in Papertrade, only 4 made a profit after receiving USDC rewards

Among the top 25 losers in Papertrade, 21 remained in a loss making state even after receiving USDC rewards, while only 4 achieved overall profitability. These users generated a total of $111.5 billion in trading volume, earned 2.06 billion PAPER (accounting for 23.4% of the supply), and received $11.61 million in USDC rewards (accounting for 20.6% of the total rewards).