2025-12-31 09:28:37

Extreme funding rate phenomena have appeared in the perpetual contract market. The funding rate for a certain token has reached 338% APR, with shorts enduring approximately $920,000 in daily bleeding losses to maintain their positions. The underlying supply-side dilemma is even more concerning—67% of the token's circulating supply is staked, with the vast majority locked in long-term commitments. From the protocol level, the official has burned 25% of the maximum supply, and 50% of the emission revenue is allocated to buyback programs. This means that the truly freely circulating supply has nearly been exhausted. Amid such a severe shortage on the supply side and high financing costs on the demand side, participants holding short positions are effectively trapped in a rapidly worsening dilemma.

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SelfRugger

· 5h ago

Shorts are really struggling now, with a 338% fee rate, losing $920,000 in just one day. Who can withstand that? Wait, 67% of the tokens are staked? The supply is too tight, no wonder the fee rate is so outrageous. The official burns 25% and repurchases 50%, truly blocking the path for shorts. I think this is a perfect short trap. Shorting this kind of token is just like giving away money; the mechanism design is too ruthless. There are very few tokens that can actually be traded freely. If shorts persist, they will really get liquidated.

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rugpull_ptsd

· 5h ago

Shorts are bleeding $920,000 every day. This isn't trading; it's charity. --- 338% fee rate? That's hilarious. It's blatant leek-cutting. When liquidity is locked, you're just waiting to be exploited. --- 67% staking, 25% burning, and another 50% buyback... This thing is a carefully designed short trap. --- Shorting this kind of token is really asking for death. The supply is frozen, and the fee rate is skyrocketing. --- Bleeding $920,000 daily and still holding the position? Is this guy a real warrior or just out of his mind? --- The official move is quite ruthless. Lock the liquidity and then start harvesting the shorts' leek. I see through it.

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HappyMinerUncle

· 5h ago

Whoa, a 338% fee rate? Shorts are bleeding 920,000 every day, how can anyone withstand that? --- 67% is staked, only a few can actually trade, no wonder the fee rate is so outrageous. --- The official burn is 25%, and they are still repurchasing, slowly choking off the supply. --- The guy doing the short probably already went bankrupt, haha. --- With such tight liquidity, no wonder the financing costs are exploding. Shorts are basically suicidal operations. --- Wait, with so much locked supply, who's buying? How can the price still be rising? --- 67% staking, this protocol is really ruthless, turning the market into a deadlock. --- Bleeding 920,000 daily, this is a meat grinder. --- Supply depletion plus skyrocketing financing rates, the shorts are being dragged to death by the official.

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