Traders who realize losses on Papertrade receive PAPER tokens at an initial rate of 100 PAPER per $1 lost while the liquidity pool remains under $2 million

From the articleTrader nets over $1M on Papertrade's launch, then loses $450KAlso in Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid's ETH prices