Papertrade's cumulative notional trading volume exceeds 1000000000000 USD, with open interest of approximately 664000000 USD
BIBIBI
AT A GLANCE
Papertrade stated that cumulative notional trading volume exceeds 1000000000000 USD, with open interest of approximately 664000000 USD。
Article
Papertrade's cumulative notional trading volume exceeds 1000000000000 USD, with open interest of approximately 664000000 USD BlockBeats reported that October 14, according to official website data, the cumulative notional trading volume of Papertrade, a HyperEVM-based synthetic perpetual protocol, has exceeded 1000000000000 USD，TVL currently stands at 61800000 USD; open interest is approximately 664000000 USD; the margin corresponding to all existing positions is approximately 13280000 USD.
Papertrade is a fully on-chain synthetic perpetual trading platform deployed on HyperEVM. It reads prices from the Hyperliquid order book's BBO mid-price, and users trade directly against the protocol, with LP acting as the counterparty rather than using traditional order-book matching. The protocol emphasizes high leverage, zero slippage, and no funding rate. Its native token PAPER has an initial supply of zero, with no pre-mine, team, or VC allocation; the sole minting sources are user losses or liquidations. At launch, the token cannot be freely transferred and is primarily used for staking.
Original link https://m.theblockbeats.info/flash/371835
Key points
01
BlockBeats reported that October 14 according to official website data, Papertrade's cumulative notional trading volume has exceeded 1000000000000 USD。
02
Papertrade's TVL currently stands at 61800000 USD。
03
Papertrade's open interest is approximately 664000000 USD。
04
the margin corresponding to all existing positions is approximately 13280000 USD。
05
Papertrade is described as a fully on-chain synthetic perpetual trading platform deployed on HyperEVM.
06
Its prices are sourced from the Hyperliquid order book's BBO mid-price, and users trade directly against the protocol, with LP acting as the counterparty rather than through traditional order-book matching.
07
The protocol emphasizes high leverage, zero slippage, and no funding rate.
08
The native token PAPER has an initial supply of zero, with no pre-mine, team, or VC allocation; the sole minting sources are user losses or liquidations.
09
At launch,PAPER cannot be freely transferred and is primarily used for staking.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Notional trading volume is the cumulative value of traded contracts and is not equivalent to platform revenue, actual capital inflows, or token value. Open interest represents the size of unsettled contracts;TVL represents the amount of assets locked in the protocol. The article also states that users trade LP directly with the protocol, and PAPER is minted due to user losses or liquidations.
Why it matters to readers
These figures reflect Papertrade's reported trading volume, open interest, TVL, and position margin, and also illustrate its trading and token mechanisms. The different metrics have different meanings; cumulative trading volume alone cannot prove platform profitability, user numbers, or PAPER value growth.
Beginners should distinguish between cumulative notional trading volume,TVL, open interest, and margin; high trading volume does not represent an equivalent amount of real assets, nor does it mean that participating in trading will necessarily be profitable.
Risks and unknowns
The data was cited by BlockBeats from the official website; the original article did not provide independent on-chain verification results.
The original article did not specify the precise statistical methodology for cumulative notional trading volume,TVL, open interest, and margin.
“High leverage, zero slippage, and no funding rate” are promoted features of the protocol; the original article did not provide supporting verification materials.
Related Developments
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The original article did not address smart contract security, liquidation risk,LP liquidity, or redemption capacity.
The original text does not specify PAPER when unrestricted transfers are possible, nor does it provide complete staking and minting rules.
Related concepts
Nominal trading volume
This term is not in the glossary yet. Browse related concepts in the glossary.
