01 Bust distance≈ 1/LEV − 0.05%
10×9.95%
50×1.95%
100×0.95%
500×0.15%
1000×0.05%
At 1000× the price only has to move 0.05% against you.
02 How PAPER worksIN 4 STEPS
- 01TradePerps on papertrade.xyz, priced off Hyperliquid, up to 1000×.
- 02Lose → mintEvery $1 you lose mints PAPER: loss × rate × 0.98. Rate now 10.99, down from 100.
- 03StakeStaked PAPER earns the house edge in USDC. 99.3% of supply is staked.
- 04The poolHouse profit refills the LP up to the $5M cap, then goes to stakers.
03 Official linksBOOKMARK THESE
04 PAPER tokenSTATUS
NOT YET TRANSFERABLE
PAPER can be minted, staked and claimed against, not sent. A pre-market perp trades on Hyperliquid (para:PAPER, $0.0246): that's a bet on the price, not the token.
what you can do with it today · hover a step
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Not possible yet: PAPER can't leave your wallet. The pre-market perp is only a price bet.
05 When the pool runs lowLIVE
$4.72M
← $0: winners queue
06 Past incidentsON RECORD
−55%of the pool · $2.2M
10.10 · price push on launch day
since launch · hover an event
10111213141516171819today
10.10 · a fast price push drains over half the LP, about $2.2M.