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<p>The non-transferability is good from a tax perspective.

Probably smart from a protocol longevity perspective.

Terrible if you were an early farmer getting diluted to infinity.

At least for tax, it was questionable whether $PAPER  was income taxable on receipt.

With the launching of para:PAPER markets, a potential "fair market value" was one step closer.

Now it is simplified:

The USDC you earn from staking rewards is likely taxed as income when you earn it.

The trading gains/losses you incur are same as any other perps.

But is a tax benefit ever worth a reduced payday?</p>

The non-transferability is good from a tax perspective.
Probably smart from a protocol longevity perspective.
Terrible if you were an early farmer getting diluted to infinity.
At least for tax, it was questionable whether $PAPER  was income taxable on receipt.
With the launching of para:PAPER markets, a potential "fair market value" was one step closer.
Now it is simplified:
The USDC you earn from staking rewards is likely taxed as income when you earn it.
The trading gains/losses you incur are 

The non-transferability is good from a tax perspective. Probably smart from a protocol longevity perspective. Terrible if you were an early farmer getting diluted to infinity. At least for tax, it was questionable whether $PAPER was income taxable on receipt. With the launching of para:PAPER markets, a potential "fair market value" was one step closer. Now it is simplified: The USDC you earn from staking rewards is likely taxed as income when you earn it. The trading gains/losses you incur are same as any other perps. But is a tax benefit ever worth a reduced payday?

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