Huo Xing Finance reports that on October 18, HIP-3 market deployer Paragon spent 570.98 HYPE (approximately $45,000) to bid on the code PAPER, potentially signaling the upcoming launch of the Papertrade (PAPER) perpetual contract. Papertrade is an on-chain synthetic perpetual trading platform deployed on HyperEVM, offering up to 1000x leverage. The PAPER token is minted based on users' realized trading losses, with no pre-mine, team allocation, or venture capital distribution.
Paragon Purchases PAPER Code for Potential Paper Trading Perpetual Contracts
MarsBitShare
Summary
On October 18, 2026, Paragon acquired the PAPER token contract for 570.98 HYPE ($45,000), potentially in anticipation of Papertrade’s perpetual futures. Papertrade operates on HyperEVM, offering up to 1,000x leverage. The PAPER token is minted from user losses, with no pre-mine or VC allocation. On-chain data confirms the transaction was executed via the HIP-3 market deployer.
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