Maji Dage: PAPER is non-transferable for the long term, and holders' interests are misaligned with the team's.

On October 20, Machi Big Brother (@machibigbrother) posted that Papertrade (@papertrade_xyz) recently issued a statement regarding the transferability of the PAPER token. Papertrade stated that it is a complex underlying primitive with high risk management complexity, and that the PAPER token is integrated into the protocol's economic model to a much greater extent than most protocol tokens. Machi believes that the PAPER token will remain non-transferable for an extended period. Holders can currently only obtain investment returns through protocol fees, but this fee share will be diluted; furthermore, the project has no team tokens, so token value, dilution, and exit liquidity impact holders more than they impact the team. Only the fee revenue portion achieves interest alignment, and Machi stated, "this issue can be resolved."