PaperTrade said the platform paid $25 million to stakers one day after launch. According to NS3.AI, liquidity provider funds reached $5 million, and the platform became a fully operational exchange supporting 1000x leverage.

PaperTrade said overly loose open interest caps during initial congestion enabled overnight manipulation attempts involving BTC and ETH. The platform has since begun tightening open interest caps at both the on-chain and relayer levels as congestion eased.

PaperTrade said the team continues to assess risks to prevent market parameters from giving the platform or traders undue advantages that could destabilize the system.