The Mysterious Paper Scraps are a collection of 11 coded messages, spread out among 77 separate pieces of paper. The scraps can be found via Digging, Scavenging, and in randomized chests (Iron Treasure Chests and Gilded Decorative Chests).
Here is a thread chronicling users gathering and attempting to piece together the messages. Each one of the eleven sets has a separate letter substitution cipher.
The mysterious messages ended up being a lead-in to the Beastclans On The Rise lore.
1[]
CPHX RLP/OI V/LLROL SOPMQ/H BQ/JUK, B/LHS NPOOY/QOB
MANY PEARL KEEPER DRAGON SOUTH, SEND WARRIORS
2[]
IVASD UASU/VASP M/Q ROQKC LAS/JYBVMSA/KVDV/OJ, VDZ IQ/ISDM
MAREN PREPARED TO BLOCK FRESHWATER CANALS, ANY MOMENT
3[]
LWJOAWN/VNJ/SBF AJOYA/WND F/WJN/MD, GWWQ K/JOYA
FEATHER DRAGON HATCHERY NEARBY, KEEP WATCH
4[]
UNIAF SR/NGRI X/NEF TEBQ/IF, PN/ZRE P/K VNOR E/RVP
HARPY LEADER MANY INJURY, TAKEN TO SAFE NEST
5[]
WBMWQ H/WXQ/RC QRYXF M/Z JC/FWQ, TF/QFWOL XR/WOBWIJF
AVIAR PATROL ROUTE IS CLEAR, BE READY TO ADVANCE
6[]
VFADWTJD EU/TDN E/PTNZHTBTS, OJ/EWF/IS X/FI UFDCD/ZEL
MOUNTAIN CLANS CHASED AWAY, VICTORY FOR LONGNECK
7[]
HMNFA NX/HFJ/MP PMJHNC D/UMT G/JMH/U, PJCHUM/NFV
GROUP OF GUARD DRAGON VERY LARGE, DANGEROUS
8[]
GCYTFQ/VO WY/IAU, UYNFG/Z VO Q/YCXF/OLSEFCU, Y/GGYIA YU JOF
TRAVEL IN PACKS, SAFETY IN LARGE NUMBERS, ATTACK AS ONE
9[]
QDFNG FYY/Q BCF/Z ZFQDVZBN/DRCF/S, DINM/FG DKQNUF/DA LVERXGA
STEAL EGGS WHEN NEST UNWATCHED, TRAVEL TO SAFETY QUICKLY
10[]
XIVVC JSX/NMZ/NRC CNKV, KS/TI-VR/V YINF/SJ GISZ/MLJF
TREES NOT ALWAYS SAFE, FOUR-EYE DRAGON PROWLING
11[]
NXLZE/CN HIUK/CN PYQ/HIXZX, AX/ACII AUCZ, UK/W AX A/CII ACK
SERTHIS PLAN IS COMPLETE, WE WILL WAIT, AND WE WILL WIN