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      Papertrade Achieves Over 57.3 Billion USD in Transaction Volume

      Papertrade, a synthetic perpetual trading platform based on HyperEVM, has reported a cumulative nominal transaction volume exceeding 57.3 billion USD since its launch at 22:00 Beijing time on October 10, 2026. The platform has also recorded open contract positions totaling approximately 3.322 billion USD, with a total margin amount of 20.29 million USD corresponding to these positions.

      The platform operates on a fully on-chain model, utilizing price readings from the Hyperliquid order book's best bid and offer mid-price. Users engage directly with liquidity providers as counterparties, bypassing traditional order book matching. Papertrade is designed to offer high leverage, zero slippage, and no funding rates, enhancing the trading experience for users.

      The native token of the platform, PAPER, has been introduced with an initial supply of zero, meaning there was no pre-mining or allocation to teams or venture capitalists. The token's minting is exclusively tied to user losses or liquidations, and it is primarily intended for staking, with transferability restricted at the outset.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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