Spending $570,000 to bid on a ticker—that’s very HyperEVM.
BlockBeats reported on October 18 that Paragon, a HIP-3 market deployer, spent 570.98 HYPE (approximately $45,000) to win the ticker PAPER at auction. Papertrade (PAPER) perpetual contracts may be launching soon.
Deployed on HyperEVM, Papertrade is an on-chain synthetic perpetual trading platform offering up to 1,000x leverage. Its PAPER tokens are minted from users’ realized trading losses, with no pre-mine or allocations to the team or venture capitalists.
Observation 1: The relationship between the ticker auction price and the platform’s leverage multiple makes the cost structure worth watching. Observation 2: The token minting mechanism is directly tied to trading losses; whether this design is sustainable depends on actual trading volume.
Are you more interested in Paragon’s cost to acquire the ticker or PAPER’s minting mechanism?
Image 1: Paragon has acquired the PAPER ticker; Papertrade perpetual contracts may be launching soon · Partial screenshot of the source page
Image source: https://www.theblockbeats.info/flash/372398
BlockBeats reported on October 18 that Paragon, a HIP-3 market deployer, spent 570.98 HYPE (approximately $45,000) to win the ticker PAPER at auction. Papertrade (PAPER) perpetual contracts may be launching soon.
Deployed on HyperEVM, Papertrade is an on-chain synthetic perpetual trading platform offering up to 1,000x leverage. Its PAPER tokens are minted from users’ realized trading losses, with no pre-mine or allocations to the team or venture capitalists.
Observation 1: The relationship between the ticker auction price and the platform’s leverage multiple makes the cost structure worth watching. Observation 2: The token minting mechanism is directly tied to trading losses; whether this design is sustainable depends on actual trading volume.
Are you more interested in Paragon’s cost to acquire the ticker or PAPER’s minting mechanism?
Image 1: Paragon has acquired the PAPER ticker; Papertrade perpetual contracts may be launching soon · Partial screenshot of the source page
Image source: https://www.theblockbeats.info/flash/372398