Came across Papertrade: synthetic perpetuals on HyperEVM just opened—and the team initially disabled deposits and opened trading. Pre-deposits reportedly reached around $120 million, across more than 10,000 accounts.
The setup is pretty wild: up to around 1,000x leverage, trading against a shared liquidity pool, and no traditional order book. The losing side mints $PAPER. The maximum atomic position per trade is around $10 million, with roughly $1 billion of room for new open interest in each market direction.
A high-leverage testing ground. Right now, whether it’s crowded at launch is more worth watching than the narrative.
#Papertrade #Hyperliquid $HYPE
The setup is pretty wild: up to around 1,000x leverage, trading against a shared liquidity pool, and no traditional order book. The losing side mints $PAPER. The maximum atomic position per trade is around $10 million, with roughly $1 billion of room for new open interest in each market direction.
A high-leverage testing ground. Right now, whether it’s crowded at launch is more worth watching than the narrative.
#Papertrade #Hyperliquid $HYPE