Start here · the strongest pieces on $PAPER
Explainer09 Aug 2026Papertrade explained: 1000x synthetic perps on HyperEVM's BBO precompilePapertrade prices synthetic swaps against its LP at Hyperliquid's on-chain BBO mid, with no orderbook, oracle, funding or slippage. The LP starts at $0 and bootstraps from trader losses, and the PAPER token has zero premine and mints only as traders realize losses.Data22 Oct 2026Papertrade staker income collapse: $6.7M to $88K a day and PAPER scenariosStaker payouts fell from $6.7M to $88K a day between 15 and 21 Oct; ~84% of the $62M headline revenue was LP overflow, i.e. trader losses passed through, not fees. Scenario values for PAPER range from $0.0006 to $0.19.Explainer25 Sep 2026Papertrade explained: 1000x oracle-free perps on HyperEVMPapertrade runs synthetic perps against an LP priced off Hyperliquid's BBO mid via precompile: 1000x leverage, zero slippage and funding, no oracle. The LP starts at $0 and grows only from trader losses; PAPER has no premine and is minted per dollar of LP gain.
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