PAPER Perpetual contract launches 11 Hourly trading volume exceeds 12900000 USD, with open interest 4580000 USD
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AT A GLANCE
PAPER Perpetual contract launches 11 Hourly trading volume exceeds 12900000 USD, with the current price falling from a 0.035 USD high to 0.025 USD。
Article
PAPER Perpetual contract launches 11 Hourly trading volume exceeds 12900000 USD, with open interest 4580000 USD BlockBeats reports that October 19，Papertrade（PAPER) perpetual contract launched on the Hyperliquid HIP-3 market has been live for 11 hours, reaching a high of 0.035 USD, and is currently quoted at 0.025 USD，11 Hourly contract trading volume exceeded 12900000 USD, with open interest of 4580000 USD. The contract has generated more than HIP-3 in fee revenue for its deployer, Paragon, accounting for over 6000 USD of its total revenue.
According to Paperdash data, 5%currently has a total supply of approximately PAPER tokens, of which approximately 8650000000 tokens are staked. At a current price of approximately 8580000000, this corresponds to a fully diluted valuation of approximately 0.025 USD. The token is currently not freely transferable and can only be staked to earn protocol 212000000 USD yield; approximately USDC has been distributed to stakers cumulatively.
Papertrade is an on-chain synthetic perpetual contract trading platform deployed on HyperEVM, offering leverage of up to 54020000 USD x. Its token 1000 is minted from users' realized trading losses, with no pre-mine, team allocation, or venture capital allocation.
Original link PAPER https://m.theblockbeats.info/flash/372469
Key points
01
BlockBeats states that the Papertrade (PAPER) perpetual contract has been live on the Hyperliquid HIP-3 market for 11 hours.
02
The report shows that the contract reached a high of 0.035 USD and is currently quoted at 0.025 USD。
03
11 Hourly contract trading volume exceeded 12900000 USD, with open interest at 4580000 USD。
04
The contract has generated more than HIP-3 in fee revenue for its deployer, Paragon, accounting for over 6000 USD of its total revenue. 5%。
05
According to Paperdash data,PAPER has a total supply of approximately 8650000000 tokens, of which approximately 8580000000 tokens are staked.
06
The report calculates that, at a current price of approximately 0.025 USD, its fully diluted valuation is approximately 212000000 USD。
07
PAPER It is currently not freely transferable and can only be staked to earn protocol USDC yield; approximately 54020000 USD。
08
Papertrade is described as an on-chain synthetic perpetual contract trading platform deployed on HyperEVM, offering leverage of up to 1000 x.
09
The report states that PAPER is minted from users' realized trading losses, with no pre-mine, team allocation, or venture capital allocation.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Trading volume represents the total size of purchases and sales of this contract during the reporting period; open interest represents the size of contracts that remain unsettled. The data indicate trading participation shortly after launch, but the current price is below the high cited in the report.PAPER itself is currently not freely transferable; the use described in the report is primarily staking to earn protocol USDC yield.
Why it matters to readers
Trading volume, open interest, and fee revenue can be used to gauge the early activity of a new contract; supply, staking ratio, and transfer restrictions affect token liquidity and valuation assessment.
Beginners should not equate high trading volume with inevitable price appreciation. Leverage of up to 1000 x means even small price movements can cause substantial losses, while the token's lack of free transferability limits exit options.
Risks and unknowns
The data in the article are relayed by BlockBeats and Paperdash; no independently verifiable underlying market records are provided.
The report does not specify the precise statistical methodology for trading volume, open interest, fee revenue, or staking-yield data.
PAPER The original article does not state when it will become freely transferable.
The liquidation mechanism, liquidity, and specific risk parameters under maximum 1000 x leverage have not been disclosed.
PAPER The specific rules and sustainability of minting through user trading losses cannot be confirmed from the original article.
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Related concepts
Perpetual Contract
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
