Papertrade has now been live for 24 hours, having launched at 22:00 Beijing time yesterday. Its cumulative notional trading volume has exceeded $678 billion, with a TVL of $77.8 million. Open interest stands at $1.3 billion, down about 60% from $3.3 billion 12 hours ago. The margin backing all current positions is $14.34 million, down about 30% from $20.29 million 12 hours ago.
Built on Hyper EVM, Papertrade uses the midpoint of Hyperliquid’s order book BBO for pricing. Users trade directly against the protocol’s LPs, with high leverage, zero slippage, and no funding rates. Its native token, PAPER, has an initial supply of zero, with no premine or allocation for the team or VCs. The only source of minting is user losses or liquidations. At launch, the token cannot be freely transferred and is primarily intended for staking.
#Papertrade #Hyperliquid #DeFi #CryptoNews
Built on Hyper EVM, Papertrade uses the midpoint of Hyperliquid’s order book BBO for pricing. Users trade directly against the protocol’s LPs, with high leverage, zero slippage, and no funding rates. Its native token, PAPER, has an initial supply of zero, with no premine or allocation for the team or VCs. The only source of minting is user losses or liquidations. At launch, the token cannot be freely transferred and is primarily intended for staking.
#Papertrade #Hyperliquid #DeFi #CryptoNews