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Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
An address positioned at the lows for ZCAT has profited $1.57 million, with returns exceeding 1000x.
According to monitoring by Ai Yi, Solana address GZetT…1J2vq secured substantial returns by purchasing ZCAT at lows. The address opened a position six days ago at $0.00005785, becoming the fourth-largest holder of ZCAT. Following related social interactions, ZCAT's price rose to $0.0951. Currently, the address has sold 36.6% of its holdings, realizing cumulative profits of approximately $1.57 million. The remaining position still holds about $1.51 million in unrealized profit, with an investment return rate of approximately 100,870%.
Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
First week distribution exceeds $50 million as Papertrade supports 1000x leveraged synthetic positions
Ansem posted on X that Papertrade allows users to open and close synthetic 1000x leveraged positions without causing actual market impact. In its first week, the platform distributed over $50 million to PAPER stakers. Its model channels traders' losses to support on-chain liquidity pools, with losses exceeding the pool's size cap distributed to PAPER stakers. Ansem said the model could expand beyond perpetual contracts into speculative games and online entertainment, but whether it can continue attracting users, sustaining liquidity, and achieving long-term growth remains to be validated by market performance.
Up to 1000x leverage supported, Jupiter launches YOLO trading product
SIONG posted on X platform stating that Jupiter Labs has launched an experimental high-leverage trading product YOLO, supporting 500x to 1000x leverage. The product draws on the JLP model, simulating positions based on real market prices, but profit and loss actually occur without the need to execute leveraged positions of corresponding scale in the market. YOLO's profits are paid out from a liquidity pool; if the pool's liquidity is insufficient, related payments may be queued rather than settled instantly. SIONG stated that this model differs from traditional perpetual contracts and has its own risks and limitations. YOLO is currently still in its early stages, and the product was launched to provide experimental space for new financial products and trading experiences, with inspiration from PaperTrade.
PaperTrade Responds to Community Concerns: Fair Launch Mechanism Constrained by Performance, Manipulation Risks Anticipated
PaperTrade posted on X stating that trading volume in the first 6 hours after launch exceeded stock market trading volume; one day after launch, PaperTrade has become a trading platform supporting 1000x leverage, with liquidity pool (LP) size reaching $5 million and $25 million in rewards distributed to staking users.In response to community concerns about the fair launch mechanism and BTC/ETH market manipulation, PaperTrade stated that due to the need to prevent frontend congestion and spam request attacks, small orders cannot enjoy exactly the same priority as large orders, and the team has maximized fairness within these constraints. Some users exploiting the Hyperliquid BBO mechanism to manipulate BTC/ETH was not an oversight in mechanism design, but rather resulted from opening a higher OI cap during the initial launch period to alleviate queuing pressure. As traffic has declined, the team has begun tightening position limits at both the on-chain and relay levels to reduce the profit space for manipulation.PaperTrade added that no system can completely eliminate manipulation, and the goal is to make attacks nearly unprofitable through parameter adjustments, noting that in the relevant incidents, some users ultimately returned most of their profits to the platform due to persistent manipulation attempts.
Papertrade.xyz Attracts $118 Million in Deposits, Offers Up to 1000x Leverage
Odaily News — Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid HyperEVM, has attracted $118 million in deposits, reaching a total value locked (TVL) of $118 million, with the platform supporting up to 1000x leverage.As of 11:45 AM ET on October 10, data from Papertrade.xyz shows that the platform's 2,349 positions have open interest of approximately $11 billion, but the funds backing these positions amount to only $54 million.The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees. Trades are executed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders receive PAPER tokens, while profitable traders may experience delayed withdrawals when liquidity is insufficient.Papertrade.xyz was founded by Jez and Blurr, who operate under partial anonymity. The project also sold 100 pairs of custom paper pants at $2,000 each, which sold out in approximately 40 minutes, generating $200,000 in sales. (Bitcoin.com News)
User deposits on PaperTrade have reached $25 million ahead of its official launch
According to market sources, PaperTrade, a platform supporting perpetual contract trading with up to 1000x leverage, has seen user deposits reach $25 million ahead of its official launch. The platform is scheduled to go live on October 10.
Related news
Cumulative trading volume reaches $1.56 billion, @machibigbrother still down $424,000 after receiving PAPER airdrop
Odaily reports: According to monitoring by on-chain analyst Ai Yi, @machibigbrother has accumulated a trading volume of $1.56 billion since October 10, with realized losses of $833,000, ranking 10th on the loss leaderboard; the account received an airdrop of 437,000 PAPER tokens (405,000 tokens), yet after offsetting, the account remains down $424,000. @machibigbrother mostly opened ETH long positions on @papetrade_xyz, with leverage ranging from 50x to 1000x, mostly at 100x, and continuously posted multiple tweets praising the platform's model.
Solana ecosystem perpetual contract protocol Cardboardtrade sees daily average trading volume of $1 billion, cumulative liquidations exceeding $564 million
Odaily reports: SolanaFloor posted on X platform that Cardboardtrade, a perpetual contract protocol regarded as the Solana version of Papertrade, currently has a daily average trading volume of approximately $1 billion.It is reported that the platform offers leveraged trading of up to 1000x for BTC, ETH, and SOL. The platform's cumulative liquidations have exceeded $564 million, with open interest (OI) reaching $38 million. The data screenshot attached by SolanaFloor shows that the protocol's cumulative trading volume is approximately $4.4 billion.
First week distribution exceeds $50 million as Papertrade supports 1000x leveraged synthetic positions
Ansem posted on X that Papertrade allows users to open and close synthetic 1000x leveraged positions without causing actual market impact. In its first week, the platform distributed over $50 million to PAPER stakers. Its model channels traders' losses to support on-chain liquidity pools, with losses exceeding the pool's size cap distributed to PAPER stakers. Ansem said the model could expand beyond perpetual contracts into speculative games and online entertainment, but whether it can continue attracting users, sustaining liquidity, and achieving long-term growth remains to be validated by market performance.
Up to 1000x leverage supported, Jupiter launches YOLO trading product
SIONG posted on X platform stating that Jupiter Labs has launched an experimental high-leverage trading product YOLO, supporting 500x to 1000x leverage. The product draws on the JLP model, simulating positions based on real market prices, but profit and loss actually occur without the need to execute leveraged positions of corresponding scale in the market. YOLO's profits are paid out from a liquidity pool; if the pool's liquidity is insufficient, related payments may be queued rather than settled instantly. SIONG stated that this model differs from traditional perpetual contracts and has its own risks and limitations. YOLO is currently still in its early stages, and the product was launched to provide experimental space for new financial products and trading experiences, with inspiration from PaperTrade.
PaperTrade Responds to Community Concerns: Fair Launch Mechanism Constrained by Performance, Manipulation Risks Anticipated
PaperTrade posted on X stating that trading volume in the first 6 hours after launch exceeded stock market trading volume; one day after launch, PaperTrade has become a trading platform supporting 1000x leverage, with liquidity pool (LP) size reaching $5 million and $25 million in rewards distributed to staking users.In response to community concerns about the fair launch mechanism and BTC/ETH market manipulation, PaperTrade stated that due to the need to prevent frontend congestion and spam request attacks, small orders cannot enjoy exactly the same priority as large orders, and the team has maximized fairness within these constraints. Some users exploiting the Hyperliquid BBO mechanism to manipulate BTC/ETH was not an oversight in mechanism design, but rather resulted from opening a higher OI cap during the initial launch period to alleviate queuing pressure. As traffic has declined, the team has begun tightening position limits at both the on-chain and relay levels to reduce the profit space for manipulation.PaperTrade added that no system can completely eliminate manipulation, and the goal is to make attacks nearly unprofitable through parameter adjustments, noting that in the relevant incidents, some users ultimately returned most of their profits to the platform due to persistent manipulation attempts.
Papertrade.xyz Attracts $118 Million in Deposits, Offers Up to 1000x Leverage
Odaily News — Papertrade.xyz, a synthetic perpetual contract DEX built on Hyperliquid HyperEVM, has attracted $118 million in deposits, reaching a total value locked (TVL) of $118 million, with the platform supporting up to 1000x leverage.As of 11:45 AM ET on October 10, data from Papertrade.xyz shows that the platform's 2,349 positions have open interest of approximately $11 billion, but the funds backing these positions amount to only $54 million.The platform does not charge slippage, funding rates, spreads, or traditional notional trading fees. Trades are executed through synthetic swaps between users and a shared protocol liquidity pool. Losing traders receive PAPER tokens, while profitable traders may experience delayed withdrawals when liquidity is insufficient.Papertrade.xyz was founded by Jez and Blurr, who operate under partial anonymity. The project also sold 100 pairs of custom paper pants at $2,000 each, which sold out in approximately 40 minutes, generating $200,000 in sales. (Bitcoin.com News)