Paper Trading

Purpose

Paper Trading is Arenaton’s no-real-value rehearsal environment. It exists to practice market decisions, test execution flows, review PnL, and build decision memory before committing real capital.

User-facing terminal copy should prefer ppUSD or Paper Prediction USD for paper credit. Some current infrastructure and legacy app strings still expose PaperUSDC for the Amoy/CTF paper path. Both labels refer to no-real-value paper rehearsal only.

Area	Paper
Chain	Polygon Amoy (80002)
Collateral	ppUSD/PaperUSDC, no real value
CTF	Gnosis CTF on Amoy
App	https://paper.arenaton.com
API	https://server.arenaton.com/api/paper/*
Faucet	POST /api/paper/faucet/claim
Registry	Approved paper registry config; target HTTP route is /api/paper/contract-registry

Paper Trading mirrors execution mechanics without production funds. It uses the same order fields, Live State Version stale-order protection, lifecycle states, settlement semantics, and direct redemption model where those paths are active, but every money-like surface is separated from production.

The paper registry HTTP route is not listed in the current pulse route table. Treat it as a target client surface until it is implemented; current paper APIs expose the active market, book, order, portfolio, lifecycle, and WebSocket behavior.

Market Types

Paper markets come in three varieties:

Type	Description	Data Source
Crypto Templates	Built-in price markets (BTC, ETH, SOL)	On-chain prices
Custom Markets	User-created prediction markets	User-defined
CTF Mirror Markets	Real CTF markets mirrored for paper	Polymarket CLOB API

For the contract and indexer mechanics, read CTF Paper Mode.

Faucet Rules

• ppUSD/PaperUSDC is not real USDC.
• Faucet claims are rate-limited.
• Faucet mints must never target production collateral.
• Paper balances must not appear in production portfolios.
• Claims are idempotent when the same Idempotency-Key is replayed.
• The faucet recipient is the selected Smart Account or Raw EOA Mode account, not an Arenaton-held balance.

Paper Market Flow

claim ppUSD/PaperUSDC
open paper Market
sign EIP-712 order
match into matchedPending fill
run settlement
show confirmed Outcome Shares
close Market
resolve and finalize payout
redeem directly against paper CTF state

Until settlement confirms, a matched fill is not a confirmed position. Until final resolution, a settled Outcome Share is not redeemable Collateral.

Safety Checks

• ppUSD/PaperUSDC has no cash value, transfer, withdrawal, bridge, sale, or redeemable real-money claim.
• Paper and production order books are separate.
• Paper and production contract registries are separate.
• Paper and production databases or schemas must be separate for money-like state.
• Paper builds refuse Polygon mainnet signing.
• Production builds refuse Amoy signing.
• Paper incident controls may stop new risk but must preserve cancellation, settlement retry, and redemption paths where rules permit.

Operator Drill Endpoints

GET  /api/paper/status
GET  /api/paper/admin/audit-log
POST /api/paper/admin/order-intake/pause
POST /api/paper/admin/order-intake/resume
POST /api/paper/admin/markets/{marketId}/close-only
POST /api/paper/admin/settlement/retry
POST /api/paper/admin/incidents/notes

Incident controls stop new risk. They must preserve cancellation, settlement retry, and redemption paths where market rules permit.

Paper Rehearsal Coverage

Paper Trading is expected to cover faucet idempotency, signed order intake, WebSocket updates, settlement, portfolio projection, resale, close, resolve, finalize, redemption, and decision review before equivalent production flows are enabled.