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MAVRICK13
MAVRICK13
THE INCOME STATEMENT HAS A PLOT TWIST. Papertrade generated approximately $8.5M in protocol revenue over seven days, according to DefiLlama. Now examine its TVL: Oct 11: $102.09M Oct 24: $33.22M A 67.5% decline. Here’s the accounting catch: reported revenue includes liquidity-pool profits distributed to stakers, not merely trading fees. Impressive revenue and shrinking collateral can coexist. Neither number tells the full story. #DeFi #Derivatives

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