Paperplanes visualizes BTC or ETH positions as paper-plane flights through a city. Its earlier practice-only prototype and planned builder-code integration remain part of the existing profile's history. On 25 October 2026, @paperplanesxyz announced real-USDC trading on Papertrade, with wallet connection and a trading-key signature, while retaining separate practice mode.
On 26 October the public homepage described real trading, and /flight loaded REAL USDC, a public BTC reference price and a wallet-connection prompt. No wallet was connected, no key authorised and no position or flight started. An accessible real-mode screen and a launch announcement do not establish tested execution, safety or reliability.
The /practice page is explicitly simulated, with no real orders or redeemable PAPER. It loaded 10,000 virtual USDC and price data during this check, with no positions or completed trades. No practice parameters were changed and no simulated round was started. The earlier check in which practice data remained waiting is a dated historical observation, not the current loaded-screen result.
Terms dated 25 October say real intents are signed in the browser and sent to Papertrade's relayer. They describe a seven-day trading key encrypted in browser storage and unlocked by a separate wallet signature. It can open and close, not withdraw; browser compromise can still cause trading losses. Disconnecting or clearing storage is not onchain revocation and does not cancel queued orders. Revocation, expiry enforcement, storage and actual permissions were not tested.
The terms describe protocol impact, a 2% win fee and a 0.5% builder fee on adjusted gains; on losses, builder payment can come from the LP's gain and is excluded from PAPER loss basis. Deposits/withdrawals stay on Papertrade. Accepted closes and visible landing actions do not end exposure until execution; opens, closes and payouts can queue. Fees and settlement were not independently measured.
The official registry displays the Paperplanes-named address as Active, consistent with the project's approval claim; no registration or transaction was inspected to bind the interface to that exact fee address. In Play / Early Access is proposed for accessible real-mode and separate practice surfaces. No audit, playtest, financial flow or reward was verified. Paperplanes / tradepaperplanes.xyz / @paperplanesxyz is distinct from Paper Plane / paperplane.cash / @paperplanecash.
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