Perpetual contract exchange Papertrade: Nominal turnover exceeds US$80 billion, and users have accumulated losses of US$4.73 million in order to swipe PAPER tokens

Get real-time price data from the Hyperliquid order book BBO. Within one hour since the Papertrade platform was deployed in HyperEVM, the cumulative nominal transaction volume exceeded US$80 billion. Statistics show that users incurred a total loss of US$4.73 million during the trading process on the platform. The official document of the platform discloses its issuance mechanism of token PAPER: When a user loses every US dollar, the agreement will cast the corresponding amount of PAPER based on a preset curve. Specifically, when the balance of the liquidity provider (LP) account is less than US$2 million, the casting ratio maintains a fixed standard of 100 PAPERs for every US$1 loss; but as the current LP scale has exceeded US$2 million, PAPER's casting efficiency began to enter a decay mode.