Papertrade, a synthetic perpetuals protocol built on HyperEVM, has opened pre-deposits and says users can complete deposits and account creation over the next two days. The team said that once live trading begins, priority for account creation and deposits will be sharply reduced, so funding accounts in advance may help users avoid launch congestion. It also said there is no extra benefit to depositing earlier during the pre-deposit window. Papertrade uses the Hyperliquid order book BBO mid-price, with users trading directly against protocol LPs. The protocol is pitched around high leverage, zero slippage and no funding fees. Its native token, PAPER, starts with a zero initial supply, with no pre-mine and no allocation to the team or VCs. According to the project, PAPER can only be minted through user losses or liquidations, and it will not be freely transferable at launch, serving mainly for staking. Based on the official timetable, live trading is expected to start about one hour after the HyperEVM network upgrade is completed on Oct. 10, with the exact timing to be announced through the Hyperliquid Discord. At launch, trading will be available through the official frontend and whitelisted relays, while direct contract interaction will open after congestion eases.
Papertrade, a synthetic perpetuals protocol built on HyperEVM, said pre-deposits are now live, giving users the next two days to complete deposits and create accounts.
The project said priority for account creation and deposits will drop sharply once live trading starts. Depositing ahead of the opening may help users avoid congestion at launch, though it added that there is no extra advantage to depositing earlier during the pre-deposit period.
Papertrade uses the Hyperliquid order book BBO mid-price, and users trade directly against protocol LPs. The protocol describes its core features as high leverage, zero slippage and no funding fees.
For token design, the native token PAPER has an initial supply of zero, with no pre-mine and no allocation to the team or VCs. The project said the only source of minting is user losses or liquidations. At launch, PAPER will not be freely transferable and will mainly be used for staking.
Under the official timetable, live trading is expected to begin about one hour after the HyperEVM network upgrade is completed on Oct. 10. The exact timing will depend on notices posted in the Hyperliquid Discord. During the opening phase, trading will require the official website frontend and whitelisted relays, while direct contract interaction will be opened after congestion eases.
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