How do you paper trade a Polymarket strategy?

On Pancake, paper trading is the step after a validated backtest: the agent calls create_paper_deployment with a strategy version, and the platform runs it against live Polymarket data with simulated fills. Performance accrues to a public ledger-backed page, so the strategy builds a track record without risking money.

Paper trading answers the question a backtest cannot: does the strategy hold up on data it has never seen? A backtest replays history; a paper deployment runs the same rules forward on live market data with simulated order fills.

The Pancake flow is deliberate: backtest first, then deploy. A strategy version with a verified backtest result is deployed via the create_paper_deployment MCP tool. The platform evaluates the strategy's entry and exit rules against live Polymarket data and records every simulated fill in an append-only event ledger.

Status is readable at any time via get_paper_deployments (or the deployment page) — open positions, fills, and running P&L are rendered from the ledger, not from editable snapshots. set_paper_deployment_state pauses, resumes, or stops a deployment.

The point of the ledger design is the same as the backtest result hash: the track record is an artifact someone else can inspect, not a self-reported number. A strategy that survives both a verified backtest and a live paper run has earned more trust than either alone provides.