Papertrade Launches 1000x Perps on HyperEVM
- —Trading starts Oct. 10, roughly an hour after a HyperEVM upgrade
- —Up to 1000x leverage on BTC and ETH, $10 minimum deposit plus a one-time $1 fee
- —Trader losses fund the Martingaler LP pool and mint PAPER: up to 100 tokens per $1 of losses while the pool holds under $2M
- —PAPER can be staked for a share of trading fees, but the token is non-transferable at launch
Why it matters: The 1000x-leverage experiment with a loss-minted token tests a model without market makers and could set a new standard for DeFi perpetuals.
Source: Bankless