Data: Papertrade's cumulative nominal turnover exceeded US$573 billion, and open contract positions reached US$3.3 billion

According to the official website, since its launch at 22:00 Beijing time yesterday, the cumulative nominal trading volume of the synthetic perpetual agreement Papertrade platform based on the HyperEVM architecture has exceeded US$573 billion. The current open contract size reaches US$3.322 billion. The total amount of margin required for existing positions is US$20.29 million. This protocol is a full-chain synthetic perpetual trading system deployed on HyperEVM. Its price mechanism directly references the BBO middle price of the Hyperliquid order book, and users conduct point-to-point transactions with liquidity providers (LP) rather than matching through traditional order book. Its core functions include highly leveraged trading, zero-slip execution and the absence of capital rates. The initial supply of platform native token PAPER is zero and does not include any pre-mining allocations or team/VC holdings. The only source of casting is the release of liquidity from users due to losses or liquidation.